The IRS can deny business deductions if it determines an activity is a hobby rather than a business. Learn how taxpayers won and lost real Tax Court cases, what records impressed the court, and the mistakes that destroyed otherwise valid deductions under IRC Section 183.

If your business, side hustle, farm, rental activity, or passion project generates losses, the IRS may challenge your deductions. Learn the hobby loss rules, the profit motive factors, and the steps taxpayers can take to protect valuable tax benefits.

The Kwong case has created interest in COVID 19 tax penalty refund claims. Learn the IRS position, protective claim rules, and why First Time Abatement or reasonable cause relief may be better options.

Learn how Trump Accounts work, who qualifies for the $1,000 Treasury contribution, and why parents and grandparents may want to open one for a child even without the government match.

A new Federal Circuit case shows how selling appreciated assets inside a C corporation can trigger massive transferee liability, penalties, and interest. Learn the tax risks business owners need to understand.

Self employed taxpayers and small business owners may qualify for a new $1,000 federal retirement match through qualifying IRA contributions under SECURE 2.0 and TrumpIRA.gov.

The IRS continues aggressive audits of conservation easement tax deductions and syndicated easement deals. Learn how recent Tax Court losses, inflated appraisals, and 40% penalties are affecting landowners and investors.

Learn how trust distributions are taxed, when beneficiaries owe income tax, how DNI works, and why timing matters for trust distribution planning.

IRS 2026 filing season data shows where high income taxpayers pay the most tax and where the IRS is focusing audits. Learn key planning opportunities and risks.

Service workers may qualify for a new tax deduction on tip income. Learn who qualifies, what counts as tips, eligible professions, and how to maximize your deduction under current IRS rules.

Life insurance policy loans can create unexpected taxable income when policies lapse. Learn the risks, Tax Court guidance, and how to avoid costly tax surprises.

Do husband and wife LLCs need to file Form 1065? Learn the federal tax classification rules, including differences between community property and separate property states and when partnership filing is required.

Business owners often reimburse expenses incorrectly. Learn how S corporations and partnerships can reimburse expenses without triggering payroll tax, guaranteed payments, or audit risk.

Proposed Department of Education rules could cap graduate student loans and redefine which degrees qualify as professional. Learn how the changes may affect education financing and tax planning.

Revenue Ruling 2026-4 explains when government related bonds qualify as tax exempt and why many do not. Learn how IRS rules affect bond interest.

The IRS explains why most homeowners associations do not qualify as tax exempt social clubs. Learn what activities disqualify HOAs and how tax exposure arises.

The IRS denied 501(c)(3) status to a mental health charity after finding improper private benefit to for profit providers. Learn what triggered the ruling and how nonprofits and donors can avoid costly mistakes.

A federal appeals court ruled that the IRS can assess tax decades later if a tax preparer committed fraud, even when the taxpayer acted in good faith. Learn what this means for you.

Learn how W2 wages interact with the Section 199A Qualified Business Income deduction. Understand income thresholds, wage limitations, and planning considerations for S corporations, partnerships, and other business owners.

Understand who qualifies for the qualified overtime compensation deduction, including federal employees, income limits, and IRS eligibility rules.