Welcome to THINK OUTSIDE THE TAX BOX, the premier on-line publication for tax reduction information!
Here at TOTTB, we produce in-depth, easy to understand, exhaustively cited, essays on the topic of tax reduction for our subscribers! And, every two weeks, we add more articles and more features like our live webinar events, private Facebook group, downloadable “Client Alerts” and Infographics, features like our blog, Around the Tax World, an aggregator of all the news happening in the tax world!
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Around the Tax World- August 18, 2026
In The HeadlinesTariff refunds hit a whopping $100 billion—but consumers may not see the benefits.
What's New In The Tax World?President Trump eyes a capital gains tax cut as a possible midterm election strategy
State-By-State-UpdatesCan California’s wealth tax overcome a billionaire opponent?
Tax Planning TipsWhat does the “no tax on Social Security” provision actually do?
READ MOREAround the Tax World- March 10, 2025
In The HeadlinesNew leadership, fewer lawsuits—changes are afoot at the Consumer Financial Protection Bureau.
What's New In The Tax World?Will federal budget cuts be enough to offset the revival of TCJA tax cuts?
State-By-State UpdatesFlorida’s governor advocates to axe the state’s property tax.
Tax Planning TipsHCould repealing the clean energy tax credits drive up electricity bills?
Around the Tax World- February 24, 2025
In The HeadlinesCVS Health could be making a revenue comeback in 2024.
What's New In The Tax World?Could $4.5 trillion in tax cuts be coming down the federal pipeline?
State-By-State UpdatesA new Georgia bill could provide taxpayers with another special refund.
Tax Planning TipsHave a home equity loan? Be clear on the tax deductions available to you.
Around the Tax World- February 10, 2025
In The HeadlinesIs DeepSeek the wave of the future of A.I.—or a threat to data security?
What's New In The Tax World?Will Trump’s $4 trillion tax cut plan prevail? Not without progress on reducing the national deficit
State-By-State UpdatesIdaho lawmakers aim to tackle rising property taxes.
Tax Planning TipsAvoid an audit by making sure these important forms are submitted.
Around the Tax World- January 23, 2025
In The Headlines Meta will be cutting 5% of its staff in efforts to raise performance standards.
What's New In The Tax World?What tax changes are Americans most likely to see in the early months of the Trump administration?
State-By-State UpdatesCould Arkansas soon say farewell to its grocery tax?
Tax Planning TipsA new year’s resolution: Stay on top of your taxes in 2025.
Around the Tax World- January 09, 2025
In The Headlines The S&P 500 has its worst performance in over 70 years in the stretch between Christmas Eve and New Year’s Eve.
What's New In The Tax World?The newly-minted Department of Government Efficiency may take an axe to the IRS.
State-By-State UpdatesKansas legislators will battle it out over new property tax cuts.
Tax Planning TipsTaxpayers in these nine states will see an income tax reduction starting this year.
Around the Tax World- December 10, 2024
In The Headlines Using A.I. to fight A.I.—Meta plans to use facial recognition to protect users from celebrity-bait scams.
What's New In The Tax World?Inauguration Day may also be new tariffs day as Trump returns to the White House.
State-By-State Updates.California’s governor queues up a tax credit for zero-emission vehicles.
Tax Planning Tips
Around the Tax World- November 22, 2024
In The Headlines Biden rushes to roll out his chip manufacturing program—will Trump reverse it?
What's New In The Tax World?Saying hello to the next Trump administration may mean goodbye to Biden’s EV tax credit.
State-By-State UpdatesCalifornia may up its tax credit offerings to the film and television industry.
Tax Planning TipsWill overtime pay taxes disappear under the Trump administration? And how much will that impact workers?
Around the Tax World- November 7, 2024
In The Headlines -Starbucks wants to win you back—with simpler menu offerings and lower prices
What's New In The Tax World?Is the elimination of federal income tax a real possibility?
State-By-State UpdatesCalifornia may up its tax credit offerings to the film and television industry.
Tax Planning TipsWhat happens if the Tax Cuts and Jobs Act provisions expire? You can prepare today for the future of your estate.
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CURRENT EDITION
When Your Client’s World Is Bigger Than the U.S.
A lot of client meetings still start with the same assumptions: W-2 in a U.S. state, mortgage nearby, a 401(k), maybe some RSUs, and a college-savings plan. Yet many of those “simple” clients now own an apartment in another country, freelance for a foreign company, or have parents wiring money from overseas. The tax code does not see those details as background color; it treats them as organizing facts. This is where citizenship, residency, and domicile quietly step onto center stage. For planners, the challenge is not memorizing every cross-border rule. It is knowing when a client is no longer “just domestic” and shifting your planning framework before you stumble into penalties, double taxation, or blown opportunities.
Are You Committing Filing Status Malpractice?
Consider this article your periodic reminder that, for married taxpayers, filing jointly is an election and not the default (and certainly not the only) filing status option. It is important in a busy practice to remember to offer this option to clients who may benefit from filing separately, even if they don’t ask.
Syndicated Easements: Fresh IRS Offer and the Perils of Post-BBA Gamesmanship
The IRS has issued a statement about a new settlement offer that is going out for conservation and historic preservation easement disputes. It is similar to previous offers, but there is one big difference. The partnership will not have to make a payment at the time that it accepts the offer. Other than that, it is similar to the deal offered in 2020. Taxpayers get to deduct what they are out-of-pocket as an ordinary deduction and are subject to a 10% penalty. In general, the out-of-pocket donation might be around 20% to 25% of the claimed charitable deduction. The Tax Court, on average, has been allowing 6%, although results vary. There is usually a 40% penalty in the decided cases.
