In the complex world of the tax code, it’s rare to find a provision that works in the taxpayer’s favor no matter which way the investment swings. Net Section 1231 gains are one of those rare gems — offering long-term capital gain treatment when you win, and ordinary loss treatment when you lose.

If you receive a Schedule K-1 from a partnership, S corporation, or other pass-through entity, you may have seen a line for “Net Section 1231 Gain (Loss)” — often appearing on Line 10. Understanding how these amounts work can help you maximize tax benefits and make better investment choices.

When it comes to taxes, most people just want clarity, certainty, and a clear end date to any IRS matter. That is exactly what Right #6: The Right to Finality is about.

The IRS has rules that limit how long it can take certain actions. This right ensures you know the timelines that apply, and it prevents the IRS from keeping a tax issue open forever.

The 2025 tax year brings a wave of changes for educators — from K–12 teachers to college professors — that could affect everything from your paycheck to your retirement savings. Some updates are brand-new, while others make past temporary provisions permanent. Court rulings are also reshaping how certain education-related deductions are handled. Here’s what you need to know to stay ahead.

Bringing up estate planning with your parents can feel uncomfortable — even daunting. These are personal conversations that often touch on mortality, money, and family dynamics. It is no surprise that many people put them off. However, having these discussions now can help preserve family harmony and protect everything your parents have worked so hard to build.

On July 4, 2025, Congress passed the One Big Beautiful Bill Act, bringing sweeping updates to the tax code—especially in the area of information reporting for Form 1099. These changes will significantly affect businesses, gig workers, freelancers, and third-party payment platforms alike.

With the passage of the One Big Beautiful Bill Act on July 4, 2025, depreciation strategy has entered a new era. The legislation made sweeping, permanent changes to both Section 179 expensing and Bonus Depreciation, significantly expanding immediate deduction opportunities. This article outlines when and why to use each provision—based on income, asset type, timing, and planning goals.

On July 4, 2025, Congress passed and signed into law the One Big Beautiful Bill Act—the most extensive tax overhaul in years. Many of its provisions are retroactive to the 2025 tax year and introduce powerful planning opportunities for both individuals and business owners.

Many individuals turn their passions into side projects—whether that’s baking custom cakes, selling handmade goods online, or offering consulting services. But when it comes to taxes, it’s important to know: Is this activity a hobby, or is it a business?

The Tax Cuts and Jobs Act (TCJA) of 2017 brought sweeping tax changes—but many of them are temporary. If Congress does not act to extend key provisions, most individual tax cuts will expire on December 31, 2025, and revert to 2017 law starting in 2026.

Here’s what’s changing—and who’s most at risk of paying more.

The IRS 2025 Dirty Dozen: Top Tax Scams to Avoid

Each year, the IRS releases its "Dirty Dozen" list, highlighting the most prevalent tax scams and schemes that pose risks to taxpayers. The 2025 list emphasizes the importance of vigilance, especially during tax season.

Retirement Tax Prep Checklist: What to Consider Before You Draw a Dime

Avoid costly missteps and get tax-smart before you start tapping your retirement savings.