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Around the Tax World- JUNE 9, 2026 – Copy
In The HeadlinesOpenAI goes on a spending spree to the tune of $3.7 billion.
What's New In The Tax World?Money is running out from a Social Security trust fund—what could that mean for your taxes?
State-By-State-UpdatesCalifornia’s governor pushes back on a proposed billionaire tax.
Tax Planning TipsTax planning could make a major difference to your student loan payments
READ MOREAround 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
Around 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
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CURRENT EDITION
What Happens If You Can’t Use All Your Clean Energy Tax Credits This Year?
Clean energy tax credits have a lot going for them. Clients buy them at a discount, apply them dollar-for-dollar against federal tax liability, and walk away paying less to the IRS. That alone makes them worth a serious look. But here’s what often gets overlooked and what makes these investments genuinely remarkable compared to almost anything else in your tax planning toolkit: the flexibility built into how and when the credits can be used. Can’t absorb the full credit this year? Carry it back up to three years and trigger refunds on taxes your client already paid. Think about that for a second. There are very few places in the tax code where you can go back in time and rewrite last year’s tax bill. This is one of them. Still have excess after the carryback? Carry it forward for up to 22 years. That’s not a typo. Two decades of runway to put those credits to work as your client’s passive income grows. And if circumstances change and the credits simply aren’t needed? An emerging secondary market means there may even be an option to sell them. No other common tax planning strategy offers this combination a guaranteed discount on purchase, dollar-for-dollar offset of tax liability, the ability to look backward and forward, and a potential exit if plans change. Understanding how each of these features works is what separates a good credit investment from a great one.
Perspectives on IRS Scrutiny of Captive Insurance Elections
The Internal Revenue Service has made no secret of its increased scrutiny of captive insurance arrangements, particularly those involving the small insurance company election. For taxpayers and their advisors, this has created understandable concern and, in some cases, hesitation about whether captive insurance remains a viable risk management and tax planning tool. Yet heightened scrutiny does not mean prohibition. The Internal Revenue Code continues to recognize captive insurance, Congress has refined it, and courts evaluate it based on well-established insurance principles. The real issue is not whether captives are allowed, but whether a specific taxpayer has a legitimate business need for insurance, has structured the arrangement properly, and has implemented it in a manner consistent with both tax law and insurance fundamentals. Understanding where scrutiny arises, how elections function, and what separates compliant captives from problematic ones is critical for CPAs advising closely held businesses today.
Strict Substantiation: Why Being Right Without Proof Can Cost You Your Charitable Deduction
Reilly’s Sixteenth Law of Tax Planning – Being right without substantiation can be as bad as being wrong – is particularly apt when it comes to charitable contributions. The case law makes it clear that there is not much wiggle room in rules relating to substantiation and reporting of charitable contributions. We’ll dig into the rules here.
