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- JULY 7, 2026
In The HeadlinesTrump pushes back on foreign digital services taxes by threatening 100% tariffs.
What's New In The Tax World?Could the federal gas tax be on its way out?
State-By-State-UpdatesCalifornia approves a tax on Trump’s “anti-weaponization” fund.
Tax Planning TipsDo Trump Account contributions need to be reported as a gift to the IRS?
READ MOREAround the Tax World – December 28, 2023
In The Headlines - One of the most successful businesses of 2023 is… Taylor Swift.
What's New In The Tax World? - Popular electric vehicles may fall out of favor in 2024 without the help of the EV tax credit
State-By-State Updates -California’s climate programs may have one adverse side-effect—$6 billion in lost gas tax revenue.
Tax Planning Tips - New guidance on the Clean Hydrogen Production Tax Credit is finally being released… but is this good news or bad news?
Around the Tax World – December 11, 2023
In The Headlines - AI-generated fake reviews are taking a toll on the tourism industry—and Exceptional Alien is fighting back with the help of celebrity investors.
What's New In The Tax World? - The fate of a potential “wealth tax” rests on a current Supreme Court case
State-By-State Updates -Georgia’s Republican lawmakers want to speed up state tax cuts.
Tax Planning Tips - Looking to save on taxes next year? Lose the money market funds and consider municipal money market funds and Treasury bills instead.
Around the Tax World – November 23, 2023
In The Headlines - Ryan Gosling is the most popular celebrity—among internet scammers, according to cybersecurity software company McAfee.
What's New In The Tax World? - U.S. lawmakers continue to push for changes to the tax rules on EV credits and cryptocurrency taxation
State-By-State Updates -Overtime just got more exciting in Alabama, which has officially eliminated state taxes on overtime pay.
Tax Planning Tips - Service members can opt into a new tax benefit—the Dependent Care Flexible Spending Account (DCFSA).
Around the Tax World – November 10, 2023
In The Headlines - What do Selena Gomez, Kim Kardashian, Rihanna, and Reese Witherspoon have in common?
What's New In The Tax World? - House Republicans propose a $14 billion reduction in the IRS’ budget to fund aid to Israel
State-By-State Updates -Alabama residents will see a little income boost through a round of tax rebates.
Tax Planning Tips - The IRS’ latest mission: hunting down $1 trillion lost to overseas tax havens.
Around the Tax World – October 26, 2023
In The Headlines - Not liking Louis Vuitton’s men’s line this year? Blame Pharrell.
What's New In The Tax World? - A new Supreme Court case questions whether a couple’s $15,000 tax bill is unconstitutional
State-By-State Updates -Californians are getting an extended deadline for federal and state taxes.
Tax Planning Tips - The IRS is piloting its free tax-filing platform in 13 U.S. states.
Around the Tax World – October 9, 2023
In The Headlines - The Hollywood writers strike has ended, but the actors aren't back just yet
What's New In The Tax World? - An IRS contractor has been charged with leaking tax information belonging to Donald Trump and thousands of other wealthy taxpayers.
State-By-State Updates -Arizona cities are encouraging new housing developments by offering major tax breaks.
Tax Planning Tips - Can TikTok be your tax advisor? Tax professionals are warning about the dangers of misinformation on social media.
Around the Tax World – September 26, 2023
In The Headlines - Want to chat with your favorite celebrity? A new startup is introducing celebrity “AI clones” that allow users to engage in simulated dialogue with well-known online personalities.
What's New In The Tax World? - Could the end of the expanded Child Tax Credit be the reason for the recent rise in child poverty?
State-By-State Updates -Maryland ends its fiscal year with leftover cash, the result of a 5% increase in tax revenue.
Tax Planning Tips - Roth IRA conversions can reduce taxes in retirement—but taxpayers need to consider these factors before making the leap.
Around the Tax World – September 7, 2023
In The Headlines -Chef Gordon Ramsay heads to southern Florida to open his two newest
restaurants.
What's New In The Tax World? - The Biden administration puts forth a proposal for...
State-By-State Updates - ● The verdict is still out on whether Colorado’s state tax refunds may be...
Tax Planning Tips - President Biden is racing to implement a 15% corporate tax as opponents rise up to
challenge it.
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CURRENT EDITION
2026 Changes to Form 2441 and Dependent Care Benefits
The credit for dependent-care expenses (such as daycare costs) has long been stuck at 20% for “average” taxpayers. It finally gets a permanent boost in 2026 (for returns filed in 2027). Also, the amount of money a taxpayer can put into a dependent care assistance program is increasing by $2,500 for 2026. This change presents a chance for taxpayers and tax pros to reevaluate which is better – claiming the credit or using a flex plan.
Turning Intellectual Property into Interest Deduction Capacity: Use of an IP Holdco After the OBBBA
Many taxpayers have lived with a frustrating mismatch since the Section 163(j) limitation tightened after 2021 – the business may generate plenty of cash, yet its interest deductions are limited because adjusted taxable income (“ATI”) is too low, e.g., due to capex. The 2025 restoration of depreciation and amortization addbacks makes ATI planning relevant again, especially for groups that own valuable intangible property (“IP”), and the choice of legal entity to house group IP may have very different tax consequences as discussed in this article.
Do You Know U.S. Tax History?
In recognition of the 250th anniversary of the adoption of the Declaration of Independence on July 4, 1776, let’s review 250 years of tax history. Our nation’s tax systems have evolved over two and a half centuries as ways of doing business and living have changed. Also, expectations of services the public wants and needs from the government have grown, resulting in tax changes to generate increasing amounts of tax revenue. Along the way, lawmakers have considered principles of simplification, equity, fairness, economic growth and effective tax administration that have shaped our tax laws. This article offers questions and answers to cover a range of interesting aspects of our federal tax history.
