The California Franchise Tax Board has released proposed amendments to California Code of Regulations Title 18 section 17951-7 addressing how gains and losses from real property are sourced for nonresidents.

Although described in part as clarifications and technical revisions, the proposed amendments are significant and substantive. They materially reshape how California sources both deferred and recognized gain involving California real property, including transactions arising from like kind exchanges under Internal Revenue Code section 1031 and involuntary conversions under Internal Revenue Code section 1033.

Federal law allows new deductions for overtime and tip income starting in 2025, but California does not conform. Learn why California workers must add these amounts back on their state return.

Selling on Amazon FBA can create California tax nexus even if you live out of state. Learn how inventory stored in California can trigger the $800 annual LLC tax.

A recent Tax Court case shows why real estate professional status depends on documentation, qualifying work, and proper planning before rental losses are claimed.

IRS Notice 2026-5 explains how the One Big Beautiful Bill Act expands HSA eligibility through telehealth relief, ACA bronze and catastrophic plans, and direct primary care arrangements.

Learn how Trump Accounts work under IRS Notice 2025-68, including the $1,000 federal seed money, state and charitable contributions, employer funding, growth period limits, and how Draft Form 4547 will be used for the election.

A detailed overview of the new charitable giving rules under OBBBA, including the non itemizer deduction, new AGI floors, high income limitations, and strategies for timing charitable gifts in 2025 versus 2026.

Learn how cryptocurrency traders may qualify as a Section 162 trade or business, how courts define trader status, what IRS guidance exists, and how taxpayers can build a defensible crypto trading business under current law.

A detailed examination of middle class tax benefits under the One Big Beautiful Bill, including expanded SALT deductions, Child Tax Credit updates, Schedule 1-A deductions, charitable rules, retirement and education changes, and key planning steps for 2025 and 2026.

A clear overview of the 2026 Medicare Part A, B, and D premium increases and IRMAA thresholds, with charts that show the key income levels that affect premiums and year end tax planning decisions for taxpayers.

An overview of the IRC §139L 25% interest exclusion for qualified rural and agricultural real estate loans, including qualification rules, property use standards, and planning considerations for lenders and borrowers.

A taxpayer focused explanation of the GENIUS Act, detailing the new federal rules for payment stablecoin issuers, reserve requirements, disclosures, and what individuals should know when using stablecoins.

Comprehensive overview of federal education tax benefits for 2025, including the AOTC, LLC, student loan interest deduction, §529 plans, Coverdell ESAs, scholarship rules, and OBBBA education changes. Learn how to coordinate benefits and maximize tax savings.

IRS Notice 2025-67 raises 2026 contribution limits for 401k plans, 403b plans, governmental 457 plans, SIMPLE and SEP IRAs, traditional IRAs, and Roth IRAs. Includes updated catch-ups for ages fifty and sixty through sixty three, new income phase outs, and expanded saver credit limits. Learn how these changes affect tax planning for 2026.

IRS Revenue Procedure 2025 31 confirms that properly structured investment and grantor trusts may stake digital assets without reclassification as business entities, preserving pass through tax treatment for staking rewards beginning with tax years ending on or after November 10, 2025.

Learn how Section 1231 gains and losses are taxed under 2025 law, why they matter for real-estate and business sales, and how to optimize timing.

A step-by-step guide for employers to create an IRS-compliant accountable plan so employee business and travel expenses are reimbursed tax-free, even after the permanent end of miscellaneous itemized deductions.

In T.C. Memo. 2025-82 the Tax Court disallowed $46,147 in unreimbursed travel expenses claimed by a W-2 employee under IRC §§62(a)(2) and 67(g). Learn the employee vs trade-or-business distinction, reimbursement plan requirements and deduction risk.

In Young v. Commissioner (T.C. Memo. 2025-95), the Tax Court denied deductions because the taxpayers failed to demonstrate a profit motive and lacked organized records. The ruling highlights that good intentions do not substitute for disciplined accounting and documentation.

A complete 2025 year-end tax planning checklist to reduce taxes and meet deadlines. Includes RMDs, Roth conversions, charitable giving, gifting, and more.