For decades, taxpayers trusted a simple rule: if you mailed a tax return or payment by the deadline, the IRS treated it as timely filed. Recent U.S. Postal Service (USPS) practices have changed that reality and created a serious trap for anyone who relies on last-minute mailing.

If your business pays a large lump-sum commission to terminate a salesperson or vendor, the tax treatment matters. In many cases, you can deduct the full payment in the year you pay it rather than spreading the deduction over many years.

The Section 318 attribution rules can treat you as owning business interests you never purchased, simply because of family relationships, entity ownership, or even stock options. When that happens, your tax results can change dramatically.

Congress created a valuable new tax break for tipped workers under the One Big Beautiful Bill Act. The No Tax on Tips deduction applies retroactively beginning January 1, 2025, and the IRS has designated 2025 as a transition year. As a result, the deduction operates differently for 2025 than for later years.

Serious real estate investors rely on the Section 1031 exchange because it allows them to grow wealth faster while legally deferring federal income taxes.

Routing personal commissions through an S corporation to reduce self-employment tax doesn't work

If you receive mileage reimbursements from your employer or your corporation, you may face an unexpected tax result when you sell or trade your vehicle.

Your tax refund will no longer arrive by paper check. The IRS recently announced that it will stop issuing refund checks, with limited exceptions, and will require taxpayers to receive refunds electronically.

You may give a much more expensive basket if you choose, but you can deduct only the first $25.

If you give money or property, you may be legally required to file a gift tax return with the IRS—even if you owe no gift tax.

 If you’re considering buying a business, it’s important to understand how the related investigation and acquisition costs are treated for federal income tax purposes—especially if a deal falls through.

Do you own a business organized as a pass-through entity (PTE)—such as a partnership, a limited partnership, an S corporation, or a multimember LLC taxed as a partnership or an S corporation? If so, you face an important tax decision.

Taxpayers often assume that clothing purchased for work qualifies as a tax deduction. The tax law takes a much narrower view.

When you skip depreciation, the IRS applies the allowed-versus-allowable rule. The depreciation you claimed counts as the “allowed” amount. The depreciation you should have claimed counts as the “allowable” amount. If you claimed zero depreciation but should have claimed $5,000, the tax law treats those amounts as different. That difference creates two problems.

If you operate multiple corporations, you might assume each one entitles you to its own set of tax benefits—separate Section 179 limits, additional credits, or even expanded retirement plan flexibility.

After four years of work, the IRS has finalized its cryptocurrency regulations, and crypto tax reporting now begins. Starting with the 2025 tax year, custodial crypto platforms must report taxable crypto transactions directly to the IRS.

Our firm didn't qualify for any new retirement plan credits (we've been around a while). But if you recently started a new retirement plan or need to do so, we'll provide some ideas here for potential savings. You have time before December 31 to take steps that will help you fund the retirement you desire. Here are five things to consider:   1. Establish Your 2025 Retirement Plan   First, a question: Do you have your (or your corporation’s) retirement plan in place?   If not

Here are six powerful business tax deduction strategies you can easily understand and implement before the end of 2025.

If you have inherited (or may someday inherit) an individual retirement account (IRA), the 2025 changes may significantly impact your tax planning.   Key Updates   RMD requirements. Starting in 2025, annual required minimum distributions (RMDs) are mandatory for most inherited IRAs. Failure to comply may result in penalties of up to 25 percent, reducible to 10 percent if corrected promptly. 10-year rule enforcement.  Non-spousal beneficiaries must fully deplete inherited IRA

Should you take the bigger SALT deduction on your personal taxes—or continue using the Pass-Through Entity Tax (PTET) through your business?