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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
READ MOREAround the Tax World- January 8
In The Headlines2026 kicks off with labor market concerns and a slowly rebounding stock market.
What's New In The Tax World?The long-debated ACA health subsidies have expired—what’s next?
State-By-State-UpdatesCalifornia asks an important question: is a tax on billionaires worth losing a few?
Tax Planning TipsElon Musk donates $100 million Tesla shares to charity before the year-end.
Around the Tax World- DECEMBER 10
In The HeadlinesCostco takes the Trump administration to court over tariff payments.
What's New In The Tax World?New tax-advantaged “Trump Accounts” receive a $6.25 billion boost from the Dell family
State-By-State-UpdatesFlorida may change its constitution to create property tax relief for homeowners.
Tax Planning TipsCapital gains taxes are causing Baby Boomers to reconsider their approach to estate planning
Around the Tax World- November 18
In The HeadlinesStarbucks on strike: The “Red Cup Rebellion” impacts 65 coffee shops across the U.S.
What's New In The Tax World?The government shutdown has ended, but the future of health care tax credits remains uncertain
State-By-State-UpdatesDelaware’s Supreme Court rules in favor of property tax relief for New Castle County.
Tax Planning TipsRoth IRAs get a boost with higher income limits for 2026
Around the Tax World- November 10, 2025
In The HeadlinesWhat do TikTok influencers and soybean farmers have in common? They may be impacted by the recent U.S.-China trade deal.
What's New In The Tax World?What to expect if the enhanced premium tax credits expire
State-By-State-UpdatesFlorida lawmakers consider rewriting their property tax system, especially for homesteads.
Tax Planning TipsThe IRS punts on a new tax law on reporting auto loan interest
Around the Tax World- OCTOBER 27, 2025
In The HeadlinesWhat is the U.S. “gold card” visa program, and will it actually be implemented?
What's New In The Tax World?The “One Big Beautiful Bill” Act could result in major tax cuts next year depending on the state you live in
State-By-State-UpdatesIowa is anticipating a significant dip in tax revenue in 2026.
Tax Planning TipsTop U.S. universities are facing a steep tax increase via the “One Big Beautiful Bill.”
Around the Tax World- OCTOBER 8, 2025
In The HeadlinesNew A.I. safety laws will impact the majority of top A.I. companies.
What's New In The Tax World?A failed deal over ACA premium tax credits gives way to a government shutdown.
State-By-State-UpdatesMichigan debates a 24% increase to its marijuana wholesale tax.
Tax Planning TipsTrump throws his weight behind Hollywood with a new 100% tariff on foreign-made films
Around the Tax World- September 23, 2025
In The HeadlinesTikTok and trade talks: What’s the latest in the U.S. relationship with China?
What's New In The Tax World?Could a wealth tax be the next step for New York City—or the U.S.?
State-By-State-UpdatesIndiana considers a pause on utility bill taxes.
Tax Planning TipsHow have the new Trump tax policies affected companies?
Around the Tax World- September 9, 2025
In The HeadlinesMeta’s flirtatious Taylor Swift and Scarlett Johansson chatbots were created without permission.
What's New In The Tax World?Could a second federal tax and spending bill be in the works?
State-By-State-UpdatesAlabama shoppers can enjoy two new tax breaks starting this September.
Tax Planning TipsWhich jobs are covered by the new “no tax on tips” rule?
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CURRENT EDITION
Tackling Taxes On an Inherited HSA
The Health Savings Account (HSA) is a first line of defense tax strategy. Contributions are deductible and earnings are tax-free if used for qualified medical expenses. There are numerous features to the HSA that secure maximum tax benefits. Structured properly, an HSA can provide serious tax-free money to beneficiaries as well as the account holder. Before we review the implications of inheriting an HSA, let’s review some of the powerful features an HSA has that increases the value of the account.
Kadau v. Commissioner and the Line Between Effective and Broken Captives
Captive insurance remains one of the most closely examined tax planning strategies in use today, not because it is inherently flawed, but because small missteps can carry outsized consequences. Many taxpayers assume that careful formation and proper documentation are enough to protect the intended tax outcome. A recent Tax Court decision, Kadau v. Commissioner, serves as a reminder that those assumptions deserve closer scrutiny. The court’s analysis did not hinge on whether captive insurance can work, but on how a specific arrangement actually functioned in practice. For tax professionals advising clients who rely on micro-captives, the case raises important questions about where structures tend to break down, why some arrangements attract IRS attention while others do not, and what really separates a defensible captive from one that invites challenge.
Not Every Client Is a Keeper: When Saying Goodbye Protects Your Practice
Bad chemistry with one client can disrupt the flow with everyone. That one client who doesn’t follow your processes and messes up the workflow during tax season. The client who never turns things in on time but then wants results from you immediately when they do. These things affect how you interact and work with your other clients as well. As the firm owner we should do whatever we can to protect good chemistry within our business. As a tax advisor the people we work with become our family. We help them make decisions that impact them and their families. That is why firing clients can be a delicate matter when you are doing the firing.
