How Should a Dental Practice Handle Quarterly Tax Filings?
A dental practice runs three quarterly cycles that do not line up: payroll returns, federal estimated tax, and California on a 30/40/0/30 schedule.
How does the IRS appeal process work? (2026 guide)
How do I appeal an IRS decision I disagree with? You can ask the IRS Independent Office of Appeals to review your case. The IRS appeal process is a formal, unbiased review that operates separately from the IRS office that made the original determination — and every taxpayer has the right to use it under…
No Tax on Overtime Deduction: How Much Can You Claim?
How much of my overtime pay is actually tax-free? Less than most workers think. The new no tax on overtime deduction is capped at $12,500 (single) or $25,000 (joint), phases out above $150,000 MAGI, and applies only to the FLSA overtime premium — not the entire overtime paycheck. On August 6, 2026 the IRS released…
Charitable Contribution Scams (2026 IRS Dirty Dozen)
Are my charitable donations at risk of an IRS challenge? They can be if you fall for one of the charitable contribution scams the IRS just named on its 2026 Dirty Dozen list. Fake charities and inflated non-cash appraisals top the list, and both can turn a well-intentioned gift into a disallowed deduction, penalties, and…
Life Events Tax Filing: What to Update With the IRS
How do major life events affect my tax filing? Marriage, a new child, divorce, and the death of a loved one can all change your life events tax filing — from your filing status and withholding to the credits and deductions you can claim. Handling each event with the IRS the same year it happens…
Life Events Tax Impact 2026: Marriage, Baby, Divorce & Death
How do major life events affect my taxes? Marriage, a new child, divorce, and the death of a spouse each change your filing status, your withholding, and the credits you can claim. The life events tax impact shows up on next year’s return — but the paperwork you need to update is due now, not…
Charitable Donation Records 2026: IRS Rules to Know
What records do I actually need to deduct my charitable donations? The IRS requires charitable donation records for every gift you claim — a bank record or written communication for cash, a written acknowledgment for anything $250 or more, and Form 8283 for larger noncash gifts. And beginning in 2026, non-itemizers can also deduct up…
Newlywed Tax Checklist 2026: 6 Steps After the Wedding
What should newlyweds do about their taxes after the wedding? Follow a short newlywed tax checklist: update your name with the Social Security Administration, file a change of address with the IRS if you moved, give your employer a new Form W-4 within 10 days, pick a filing status, and combine your records — the…
IRS Automatic Penalty Relief: AEP Replaces First Time Abate
Do I have to ask the IRS for penalty relief anymore? Not for the most common relief. Starting summer 2026, the IRS is replacing First Time Abate with automatic penalty relief — the new Automatic Exemption from Penalty (AEP) will waive failure-to-file, failure-to-pay, and failure-to-deposit penalties for eligible taxpayers during return processing, with no request…
Hiring Seasonal Employees: 2026 Payroll Tax Guide
Do seasonal and part-time workers change my payroll tax obligations? No — hiring seasonal employees does not create a lighter set of federal payroll rules. Wages paid to summer, holiday, and part-time help are subject to the same federal income tax withholding, Social Security, and Medicare taxes as wages paid to your full-time staff. The…
Trump Accounts Guide 2026: $1,000 Deposit and Section 530A Rules
What is a Trump Account and how do I open one for my child? A Trump Account is a new federally authorized investment account for children, created by the One Big Beautiful Bill Act as IRC Section 530A. The Trump Accounts guide below walks families through the $1,000 federal seed deposit, $5,000 annual contribution cap,…
Newlywed Tax Checklist 2026: 6 Steps Before You File
What tax steps should newlyweds take after the wedding? Update your name with Social Security, file a fresh Form W-4 with each employer, tell the IRS if you moved, and model your return under both joint and separate filing status. This newlywed tax checklist walks through each step so next spring is calm, not chaotic….
Federal Scholarship Tax Credit 2027: IRC §25F Guide
Who can claim the new Federal Scholarship Tax Credit? Starting January 1, 2027, individual taxpayers can claim the Federal Scholarship Tax Credit — a federal credit of up to $1,700 for cash donations to Scholarship Granting Organizations (SGOs) in a participating state. Twenty-eight states have already opted in. Beginning next year, a new line item…
Trump Account Gift Tax Safe Harbor (Rev. Proc. 2026-25)
Do I have to file a gift tax return for money I put in a Trump Account? In most cases, no. Under IRS Rev. Proc. 2026-25, the Trump Account gift tax safe harbor treats qualifying cash contributions as current-interest gifts within the $19,000 annual exclusion, so most families skip Form 709 entirely. The launch of…
Tip Deduction 2026: Who Qualifies for the $25K Break?
Who qualifies for the new $25,000 federal tip deduction? The tip deduction 2026 is an above-the-line deduction for workers in customarily tipped jobs — waiters, bartenders, stylists, rideshare drivers and roughly 70 other IRS-listed occupations — worth up to $25,000 of qualified tips for tax years 2025 through 2028, subject to income phaseouts. For decades,…
California Discretionary Trust Tax: FTB 2026-01 Ruling
When is a California resident beneficiary of a discretionary trust actually taxed on trust income? Only when the trustee decides to distribute. In its new Legal Ruling 2026-01, the FTB confirmed that California discretionary trust tax under R&TC section 17742 hinges on whether the beneficiary’s interest is “contingent” — and while the trustee holds sole…
Restaurant Tip Payroll 2026: Withholding, Form 8027 and the FICA Tip Credit
What are the new 2026 tips and overtime deduction rules for employers? For tax years 2025 through 2028, employees can deduct up to $25,000 of qualified tips and up to $12,500 of qualified overtime pay ($25,000 for joint filers). The tips and overtime deduction is claimed on the employee’s return, but it creates new payroll…
Vacation Home Rental Tax: The 14-Day Rule Explained
Do you owe tax when you rent out your vacation home? It depends on how many days. Understanding vacation home rental tax starts with one number: 14. Rent the place 14 days or fewer a year and the income is tax-free; rent it more and the income is taxable — but you can deduct expenses,…
Taxpayer Bill of Rights: Your 10 Rights With the IRS
What rights do you have when dealing with the IRS? Ten of them. The Taxpayer Bill of Rights groups long-standing protections in the tax law into ten fundamental rights — from the right to be informed to the right to a fair and just tax system. They are adopted in Internal Revenue Code § 7803(a)(3)…
Section 1031 Exchange: Defer Tax on Investment Real Estate
Can you defer tax when you sell investment property? Often, yes. A Section 1031 exchange lets you defer capital gains tax when you swap real property held for business or investment for like-kind real property. The trade-off: strict deadlines — 45 days to identify a replacement and 180 days to close — and, since 2018,…
QOZ Update: IRS Notice 2026-40 and the Dec 31, 2026 Deadline
Are the Opportunity Zone rules changing? Yes. In IRS Notice 2026-40, the Treasury Department and the IRS announced that they intend to issue proposed regulations on Qualified Opportunity Zones under Internal Revenue Code §§ 1400Z-1 and 1400Z-2, as amended by the One, Big, Beautiful Bill Act (OBBBA). The notice provides transitional guidance for investments made…
SALT Deduction Cap 2026: Now $40,000 (Courts Uphold It)
Is the SALT deduction cap going away in 2026? No. Federal courts continue to uphold the SALT deduction cap, with a New Jersey federal court dismissing another constitutional challenge in May 2026. But there is relief: the One Big Beautiful Bill raised the cap from $10,000 to $40,000 beginning in 2025, with a 1% annual…
Federal Student Loan Caps 2026: Graduate PLUS Phase-Out and Accounting Impact
What are the federal student loan caps 2026 effective July 1? The Department of Education’s final rule eliminates unlimited borrowing under the Graduate PLUS Program effective July 1, 2026. Eleven designated “professional” degrees (law, medicine, dentistry, etc.) face $50K annual / $200K aggregate caps. All other graduate fields — including accounting, engineering, and nursing —…
IRS Letter Real or Scam? 2026 Verification Guide & Paper Check Phase-Out
How can I tell if an IRS letter is real or a scam in 2026? The IRS’s paper-check phase-out has triggered an unprecedented wave of legitimate letters asking taxpayers for bank account information — which looks suspiciously like a scam. Always verify by logging into your IRS online account at IRS.gov, where every real notice…
IRS Conservation Easement Settlement Opportunity 2026 — IR-2026-63
What is the IRS conservation easement settlement opportunity announced in 2026? Per IR-2026-63 (May 6, 2026), the IRS updated its Conservation Easement site with expanded warnings on abusive transactions and recent court decisions, and announced a forthcoming time-limited settlement program — letting eligible partnerships resolve disputed federal tax consequences with certainty before pursuing litigation. If…
IRS Withholding Estimator OBBBA: Mid-Year Tax Check Guide 2026
Why use the IRS Withholding Estimator OBBBA update for mid-year tax planning? The IRS Tax Withholding Estimator now reflects all the new OBBBA deductions and credits — tipped income, overtime pay, car loan interest, enhanced senior deduction, plus updated family, homeownership, and charitable giving items — making mid-year withholding adjustments essential to avoid surprise balance-due…
Wagering Losses 90% Limitation: OBBBA Section 165(d) and Slot Threshold
What is the new wagering losses 90% limitation under OBBBA? Section 70114(a) of the One Big Beautiful Bill Act amended IRC Section 165(d) to limit the deduction of wagering losses to 90% of the amount lost during the year — and only to the extent of wagering gains. Treasury’s proposed regulations (REG-113229-25) implement this change…
California PTE Elective Tax 2026: June 15 Payment Rules and SB 132 Changes
What are the California PTE elective tax 2026 deadlines and SB 132 changes? Qualified entities must make the PTE elective tax initial payment by June 15, 2026 — the greater of 50% of last year’s elective tax or $1,000 — or face a 12.5% reduction in PTE credit allocated to consenting partners under Senate Bill…
IRS Tax Debt Resolution: Installment Agreements, OIC, and Penalty Abatement
What are the IRS tax debt resolution options if I can’t pay what I owe? The IRS offers four main paths: short-term and long-term Installment Agreements, Offer in Compromise (OIC) for those who can prove inability to pay, Currently Not Collectible (CNC) status to pause collections, and Penalty Abatement to reduce or eliminate associated penalties….
Foreign Earned Income Exclusion Relief: Rev. Proc. 2026-16 Countries
What is the foreign earned income exclusion relief under Rev. Proc. 2026-16? The IRS waives the section 911 residency and presence tests for 2025 for qualified individuals who had to leave seven specified countries due to war, civil unrest, or similar adverse conditions. If you’re a US citizen or resident who was living abroad and…