The IRS recently reminded taxpayers that hobby income is taxable even when an activity is not operated as a business. Learn how hobby income is reported, why Forms 1099-K and 1099-DA matter, and how the IRS distinguishes a hobby from a business under IRC Section 183.

Worker misclassification is one of the most expensive tax mistakes a business can make. Learn how the IRS determines whether a worker is an employee or independent contractor and how to avoid payroll tax penalties, audits, and compliance issues.

A recent Tax Court case highlights the strict requirements for claiming the mortgage interest deduction. Learn when mortgage interest is deductible, why documentation matters, and how homeowners can avoid costly IRS challenges.

The Tax Court has now confirmed that cryptocurrency staking rewards are taxable income when received, not when sold. Learn how the Paschall case affects crypto investors, the IRS position on staking rewards, and what records you should maintain to avoid costly tax reporting mistakes.

Good records can be the difference between winning and losing an IRS hobby loss audit. Learn which documents impressed the Tax Court, how successful taxpayers proved profit motive, and the records every business owner should maintain under IRC Section 183.

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.

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.

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.