IRS Furloughs Begin October 8: What Taxpayers Need to Know Starting October 8, 2025, the IRS has furloughed nearly 34,000 employees due to the government shutdown—causing major delays in processing, support, and refunds. While e-filing and payments remain active, deadlines are still in effect. Learn how to protect yourself, stay compliant, and adjust your tax strategy during this critical period.

Real Estate Professional Status: How to Use Rental Losses to Offset W-2 Income Looking to reduce your taxable income using rental property losses? The IRS’s Real Estate Professional (REP) status may allow you to offset W-2 wages or business income with 100% of your rental losses—but only if you meet specific IRS requirements. This guide breaks down how to qualify, common pitfalls, and whether REP status is the right tax strategy for your real estate investing goals.

Starting with the 2025 tax year, more people than ever will receive a Form 1099-K—thanks to updated IRS rules under the One Big Beautiful Bill (OBBB). If you earn money through freelancing, gig work, online selling, or small business, and you bring in $2,500 or more via third-party platforms, a 1099-K is coming your way. And in 2026, that threshold drops to just $600. Learn what these changes mean for you, how to report income correctly, and how to avoid common pitfalls.

Want to earn thousands in tax-free income—legally? The Augusta Rule lets homeowners rent their residence to their business for up to 14 days a year, with zero tax owed. It’s a powerful, IRS-approved strategy that small business owners and real estate investors often overlook. In this post, we break down how it works, what properties qualify, and how to use it correctly to maximize your tax savings.

With 100% bonus depreciation back in 2025, cost segregation is once again a hot topic among real estate investors. But while it can unlock massive tax deductions, it’s not a one-size-fits-all solution. In fact, many investors spend thousands on studies they can’t actually benefit from—because they don’t qualify to use the losses. In this article, we break down when cost segregation works, when it doesn’t, and the real-life scenarios that can turn a smart strategy into a cost

For high-income earners, Roth IRAs are an attractive way to grow wealth tax-free—but income limits often block direct contributions. That’s where the Backdoor and Mega Backdoor Roth strategies come in. While powerful, both come with a hidden tax pitfall: the Pro Rata Rule. If you’re not careful, your “tax-free” Roth conversion could trigger a big surprise from the IRS. Learn how to use these strategies the smart way—and avoid costly mistakes.

Looking for a smart way to save on taxes and prepare for medical costs—both now and in retirement? A Health Savings Account (HSA) offers unmatched flexibility with a triple tax advantage: tax-deductible contributions, tax-free growth, and tax-free withdrawals for qualified expenses. In this post, we’ll explore five key HSA tax benefits that can boost your long-term financial health.

Small business owners: cut your tax bill and grow your retirement savings by contributing to retirement accounts like Solo 401(k)s and SEP IRAs. Learn how to choose the right plan, maximize deductions, and take action before year-end to keep more of what you earn!

Thinking about buying an electric vehicle? The clock is ticking. The federal EV tax credit—worth up to $7,500 for new EVs and $4,000 for used EVs—is set to expire on September 30, 2025. Whether you're an individual or a business owner, this is a limited-time opportunity to capture major tax savings. Here’s what you need to know before the deadline hits.

Your kids helping in your business? You could legally pay them—and lower your tax bill at the same time. The IRS allows business owners to pay their children for real work, deduct those wages, and potentially owe zero in taxes on that income. It’s a smart tax strategy and a great way to teach kids responsibility.

Working from home? You could be missing out on major tax savings. The home office deduction lets small business owners write off a portion of rent, utilities, and more. Here's how to make your space work for you at tax time.

Paying Yourself Without IRS Trouble: A Quick Guide Paying yourself from your business isn't as simple as making a bank transfer—especially if you want to stay off the IRS’s radar. The right method depends on your business structure, and choosing incorrectly could lead to penalties or audits. From owner’s draws to reasonable salaries and guaranteed payments, this guide walks you through how to compensate yourself legally and smartly—without triggering IRS red flags.

LLC vs. S Corp: Which Saves You More on Taxes? Choosing the right business structure can lead to major tax savings. While LLCs are simple and flexible, switching to an S Corp once your profits grow could save you thousands in self-employment taxes. With the latest tax law changes under the One Big Beautiful Bill, it’s more important than ever to evaluate your options — and your bottom line.

The One Big Beautiful Bill: What “No Tax on Tips” and “No Tax on Overtime” is here – and it could mean major tax savings for workers who earn tips or overtime. Signed into law on July 4, this bill allows eligible employees to deduct up to $25,000 in tips and $12,500 in overtime from their federal income. But there are strict rules to follow.

The One Big Beautiful Bill is now law — and it’s packed with powerful tax breaks for business owners. From a permanent 20% QBI deduction to 100% bonus depreciation and even new personal car loan interest deductions, this is your chance to save big. Here are five smart strategies to cut taxes and boost your bottom line.

The IRS Section 121 exclusion can save homeowners up to $500,000 in capital gains tax when selling a primary residence—but only if the rules are followed precisely. In this post, we share a real-life example of a couple who lost their entire exclusion by missing a critical deadline. Their home, once a primary residence, had been a rental for just a little too long—and that small oversight cost them hundreds of thousands in taxes.

The IRS is overhauling crypto tax regulations starting January 1, 2025—and the changes are big. From mandatory wallet-by-wallet cost basis reporting to the new Form 1099-DA, digital asset investors, traders, and DeFi users must act now to avoid costly mistakes.

Short-term rentals are all the rage—but did you know that reporting your Airbnb income incorrectly could cost you tens of thousands in unnecessary taxes? That’s exactly what happened to one host—until a strategic tax review turned a potential loss into an $80,000 win.

Big tax changes are coming. The House just passed a massive tax bill with major breaks for business owners, investors, and high earners—think 100% bonus depreciation, a bigger QBI deduction, and no tax on tips. Now’s the time to plan smart.

As a small business owner, missing just one deduction could cost you thousands. From home office expenses to client meals, the IRS offers plenty of ways to legally lower your tax bill—if you know where to look.