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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?
READ MOREAround the Tax World – August 29, 2023
In The Headlines -Beyoncé is in the business of helping her fans smell great...
What's New In The Tax World? - Tax code revamps are a key talking point for 2024 presidential candidates
State-By-State Updates - ● A new tax in Jacksonville, Florida would raise funds for homeless and domestic violence victims.
Tax Planning Tips - The new 1% stock buyback tax adds up to $3.5 billion for the largest U.S. companies.
Around the Tax World – August 7 2023
In The Headlines -Joe Biden and Elon Musk exchanged tax policy quips on Twitter.
What's New In The Tax World? - As presidential hopefuls look ahead to 2024, DeSantis focuses on taxes, regulations, and policy toward Chinas
State-By-State Updates - A bill that is set to repeal rental tax in Arizona has yet to see the governor’s desk.
Tax Planning Tips - The rules for inherited IRAs have shifted—and could mean a higher tax bill for you or your beneficiaries.
Around the Tax World – July 25, 2023
In The Headlines -Barbie’s box office debut is expected to rake in as much as $500 million...
What's New In The Tax World? - As universities see an end to affirmative action, they may also see the beginning of higher taxes
State-By-State Updates - As Californians cut back on smoking, early childhood programs may see their funding plummet.
Tax Planning Tips - Over 800,000 student loan borrowers will be eligible for loan forgiveness
Around the Tax World – July 11, 2023
In The Headlines -Love him or hate him, Elon Musk is seeing record sales at Tesla…
What's New In The Tax World? - ATTN: Next Tax Scam Victim — See Details About the Latest Tax Refund Scam Inside
State-By-State Updates - Pennsylvania seniors may see property tax rebates in their mailboxes soon…
Tax Planning Tips - Lawmakers are looking to boost the Child Tax Credit with both an increase and a new “baby bonus.”
Around The Tax World- June 27, 2023
In The Headlines - Ryan Reynolds banks $1.35 billion after the sale of his latest business venture…
What's New In The Tax World? - The Tax Wars Rage on: Higher Standard Deduction vs. Expanded Child Credit, Small Business Tax Breaks vs. Clean Energy Tax Cuts… Who Will Win?
State-By-State Updates - California’s “mansion tax” is resulting in a surplus of vacant luxury homes worth over $5 million each…
Tax Planning Tips - How “stealth” taxes can impact retirees—and how to avoid them.
Around The Tax World- June 9, 2023
World NEWS - Alaska is making plans to tax online car sharing platform Turo…
U.S. NEWS - Cities in Tennessee, Texas, and Oklahoma rank as the most tax-friendly for high-income earners
STATE NEWS - New Jersey debates expanding property tax relief for seniors…
TAX PLANNING - Taxpayers who withdrew IRA funds during COVID-19 are running out of time to claim a tax refund.
Around The Tax World- May 25, 2023
World NEWS - The Supreme Court rules that the IRS does not need to give notice to third parties when requesting bank records…
U.S. NEWS - The IRS is developing a free electronic tax filing system that could replace commercial options
STATE NEWS - Texas legislators advance a bill that would change property tax limits…
TAX PLANNING - In 2023, the IRS flagged over 1 million tax returns as potentially fraudulent.
Around The Tax World- May 9, 2023
World NEWS - A group of U.S. Senators push the IRS to take action against AI-generated tax scams…
U.S. NEWS - New York and California tax revenue took a hit during COVID-19 as high-income earners moved to low-tax states
STATE NEWS - The Minnesota Senate passed a $4 billion tax bill…
TAX PLANNING - The deadline is approaching for the 1.5 million taxpayers with an unclaimed 2019 tax refund to file their return.
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CURRENT EDITION
Remember, Influencers, the IRS Follows You Too!
The influencer marketing industry was able to grow during Covid as many advertisers had to adjust or cancel their marketing campaigns. This was because more people were sitting at home consuming content on social media. This new opportunity for smaller influencers has created a new group of taxpayers who need to know their new filing obligations. They’ll also be open to tax planning strategies that you have to help them reduce their tax liability.
Hobby Loss Regulations And Loper Bright
For me, the most exciting Tax Court opinion of 2025 was Judge Joseph Goeke’s supplement to his 2024 opinion in the case of Gary M. Schwarz. With a $1,851,878 tax deficiency, it is the largest hobby loss opinion since 2019. (The really big dollar cases tend to settle.)
Consult, Don’t Convince: Turning Discovery Calls into Advisory Opportunities
The most successful accountants aren’t the ones who pitch the hardest, they’re the ones who listen the most. When you ask better questions, you can diagnose problems that clients didn’t even know they had, which then helps us clarify outcomes instead of listing services. When we shift from “convincing” to “consulting,” discovery calls stop being “sales” conversations and start becoming advisory conversations. And advisory conversations naturally lead to advisory engagements.
