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Around the Tax World- May 26, 2026
In The HeadlinesTrump settles his lawsuit against the IRS—and gains audit protection in the process.
What's New In The Tax World?Jeff Bezos stirs up talk about eliminating income taxes in a recent interview
State-By-State-UpdatesNew Mexico faces disappointing results from its $512 million in state tax credits.
Tax Planning TipsThe enhanced premium tax credit didn’t make it to 2026—what has the impact been?
READ MOREAround the Tax World- May 7, 2026
In The HeadlinesThe S&P 500 stalls as the war in Iran continues and the Federal Reserve meets on interest rates.
What's New In The Tax World?Republican lawmakers look to woo voters with lower capital gains taxes
State-By-State-UpdatesCalifornia’s “billionaire tax” makes it a step closer to the November ballot.
Tax Planning TipsWho can benefit most from the IRS’ free tax withholding tool?
Around the Tax World- April 23, 2026
In The HeadlinesJust how bad is the energy crisis? Experts assess the impact of the ongoing war in Iran.
What's New In The Tax World?Despite the OBBBA tax cuts, polls show that most Americans think they are overpaying on taxes—a sentiment that could impact midterm elections
State-By-State-UpdatesHawaii’s climate cruise tax is blocked by an appeals court—what’s next?
Tax Planning TipsAs annuity sales reach record growth levels, what does this mean for tax planning?
Around the Tax World- April 9, 2026
In The HeadlinesPresident Trump projects an end to the war in Iran in April, causing stocks to rally.
What's New In The Tax World?Did you know tax assessments have an expiration date? Here’s what to know.
State-By-State-UpdatesAlaska struggles with lost revenue from properties erroneously claiming a tax exemption.
Tax Planning TipsAre your investments tax-advantaged—and if not, what needs to change?
Around the Tax World- march 25, 2026
In The HeadlinesThe Federal Reserve keeps interest rates as-is but alludes to a future cut.
What's New In The Tax World?The National Taxpayer Advocate anticipates 2026 challenges due to staffing reductions and retroactive changes to tax law
State-By-State-UpdatesCalifornia adds animated and competition TV shows to its Film & Television Tax Credit Program.
Tax Planning TipsHow do the OBBBA tax policies impact retirement planning?
Around the Tax World- march 10, 2026
In The HeadlinesThe Trump administration takes a 10% stake in Intel.
What's New In The Tax World?The IRS has released a new OBBBA schedule: Taxpayers can now claim a tax exemption on tips, overtime, and car loan interest
State-By-State-UpdatesCalifornia lawmakers are torn over a new gas tax study.
Tax Planning TipsHow could A.I. impact the way taxpayers approach filing season?
Around the Tax World- February 24, 2026
In The HeadlinesTariffs and A.I. top the “Global Risks Report” for 2026.
What's New In The Tax World?Why are tax refunds being issued more slowly this year—and how might this impact the economy?
State-By-State-UpdatesGeorgians could see an extra $500 through the surplus tax refund program.
Tax Planning TipsHeirs are waiting for more than a year to receive tax refunds after a loved one’s death
Around the Tax World- February 10, 2026
In The HeadlinesA.I. is headed to outer space: Elon Musk closes a record-setting deal as SpaceX acquires startup xAI.
What's New In The Tax World?What’s new with the clean fuel tax credit?
State-By-State-UpdatesCalifornia’s proposed mileage tax won’t make it onto the highway just yet.
Tax Planning TipsThese are the scams to watch out for this tax season
Around the Tax World- January 27
In The HeadlinesHow will the “sell America” trade impact U.S.-centric investments?
What's New In The Tax World?Has your state resolved to lower individual income taxes in 2026?
State-By-State-UpdatesAlabama cities filed a lawsuit against the internet sales tax—now the legislature is pushing back.
Tax Planning Tips2026 could be the year you reap maximum benefits from homeowner tax deductions
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CURRENT EDITION
Small Mistakes With Huge Costs for Your Client’s Tax Returns
We’ve all been there. A client walks into your office and, somewhere in the conversation, you realize that a seemingly minor oversight, a missed deadline, a form nobody filed, an election nobody mentioned, has spiraled into a five- or six-figure tax problem. In my years of practice, some of the most expensive mistakes I’ve seen weren’t the result of aggressive planning gone wrong. They were small, quiet errors. The kind that happens when a deadline slips, an election isn’t made, or a form gets overlooked entirely. The tax code is unforgiving in these situations, and the IRS has little sympathy for “I didn’t know.” This article walks through some of the most common, and most costly, small mistakes that can devastate your client’s tax situation, along with practical guidance for avoiding them.
When Debts Go Bad: The Challenges of Deducting Delinquent Debts
It is painful when you finally realize that the money you expected to be repaid is never coming back. The tiny silver lining in that cloud might be the tax benefit of “writing off” the debt. Unfortunately, that silver lining may well be eclipsed by an even bigger cloud. Writing bad debt off is not that easy, and there’s probably no silver lining to that cloud. Ironically, you might find that the mistakes that caused you to be holding a bad debt might be what prevents you from getting a usable deduction.
Building a Partnership the Right Way: Tax Strategies From Day One
Setting up a partnership is a lot like getting married. It’s exciting, full of promise, and if you do it right, it can be incredibly rewarding. Do it wrong, and you’re setting yourself up for years of headaches and potentially significant financial loss. The decisions you make at the formation stage of your partnership will impact your tax situation for years to come, and in some cases, these decisions can be difficult or costly to undo later. In this article, we’ll explore the critical steps in setting up a partnership and the tax implications of various contribution strategies. You’ll learn how to establish a foundation that maximizes tax advantages from day one.
