Tax Strategy News and Headlines
Tax Strategy News and Headlines
Tax Strategy Pulse
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Daily
Every morning
Weekly
Tuesday recap
The 2025 tax season brings the new OBBBA provisions, which add roughly $4,000 in average tax cuts per filer when both individual and business benefits are combined. While software automatically captures standard deductions and the Child Tax Credit, it misses half of the savings that require manual discovery, such as overtime premiums, auto‑loan interest, expanded SALT caps, and restored 100% bonus depreciation. Tax professionals can also amend prior returns to claim retroactive domestic R&D expensing and other overlooked deductions. Ignoring these hidden strategies means leaving millions of dollars on the table for clients.
Millennial and Gen Z entrepreneurs are turning tax planning into a proactive growth tool, using AI-driven loss harvesting and real‑time accounting to cut liabilities before year‑end. They favor S‑corporations or LLCs taxed as S‑corps to lower self‑employment taxes and gain pass‑through...
The One Big Beautiful Bill Act (OBBBA) cemented a $15 million estate‑gift exemption but introduced a 35 % cap on itemized deductions and a 0.5 % AGI floor that erodes charitable benefits for high‑income families. A pending California billionaire tax would levy a one‑time 5 % charge on...
The One Big Beautiful Bill Act (OBBBA) makes key expensing provisions permanent, allowing companies to immediately write off equipment, machinery, and domestic R&D costs. It also expands Section 179 for small businesses and adds a temporary expensing rule for new manufacturing...
At Nareit’s REITwise 2026 conference, Roberts & Holland partner Ezra Dyckman warned REITs about hidden tax pitfalls in operating‑partnership transactions. He explained that “disguised sale” rules can turn OP‑paid costs into taxable cash, creating unexpected tax bills and debt‑capacity issues. Dyckman...
New York’s tax code mandates that a federal S corporation be deemed a New York S corporation when more than 50% of its federal gross income is classified as investment income. In a recent case, the Department of Taxation and...
Basis substantiation audits focus on a taxpayer’s outside basis in partnerships and stock or debt basis in S corporations. The IRS examines how partners compute outside basis, especially liability allocations, while S‑corp shareholders must complete Form 7203 to prove loan documentation...
