Filing your 2025 tax return marks the end of last year’s compliance process, but it also marks the beginning of this year’s planning opportunity. With your numbers finalized, you now have a clear picture of what worked, what changed, and what needs attention before December 31. For investors, partnership interest owners, and individuals with complex income, a post-filing review is one of the most productive conversations of the year.
Rental days are only part of the equation. Learn how personal use, guest stays, expenses, and services can affect the tax treatment of a vacation home or short-term rental.
Choosing the Right Retirement Account for Your Situation Key Takeaways Compare tax rates now and later. Pretax accounts may be appealing when current tax rates are high; Roth accounts may be attractive when future tax rates are expected to be higher. Coordinate IRA...
Why the Placed-in-Service Date Matters In real estate and business asset planning, the placed-in-service date can be one of the most important details in the depreciation file. Under Section 168, depreciation for tangible property is generally determined using the...
With the April deadline behind us, most taxpayers fall into one of two categories: those who filed their returns, and those who requested an extension. While both are common, they come with different implications and opportunities. If You Filed Your Return Filing your...
Beginning in 2026, new tax law changes significantly reshape how individuals benefit from charitable contributions. These updates expand access to deductions while also limiting certain benefits thereby making tax planning more important than ever. 1. New Deduction...
Rental Real Estate Loss Rules & Tax Deduction Strategies Rental real estate loss rules often surprise property owners who expect all rental losses to be immediately deductible. In fact, more than half of rental property owners report losses on Schedule E each...
Education Tax Credits: A Brief Overview Education tax credits can help offset the cost of college or trade school by reducing the amount of tax owed. If you, your spouse, or a dependent attended an eligible educational institution during the year, it may be worth...
What are Trump Accounts? The IRS has released its first round of guidance on Trump accounts for children, a new long-term savings program created under H.R. 1, P.L. 119-21—commonly known as the One Big Beautiful Bill Act (OBBBA). Designed to help children build...
Tax projections are an essential planning tool for real estate owners, enabling a shift from reactive, year-end tax filing to proactive, strategic management of investments. By estimating future tax liabilities, owners can optimize cash flow, make smarter investment...