A break for many who have been hit by high gas prices: The IRS has quietly announced a revision to the optional standard mileage rates for computing the allowable deductible costs of operating an automobile. Click through to see what has changed—and what hasn’t.
Poor recordkeeping can create costs that include problems with tax compliance, reporting, and planning—among others. Click for details and avoid these errors.
The installment method is a tax-reporting strategy that allows you to spread out the recognition of capital gains over multiple tax years when you finance an asset sale yourself. There is a lot to know—click for the details.
Recent tax law changes have expanded the definition of qualifying research and development activities and created new opportunities for manufacturers to recover capital. Click for important details.
January 1 ushered in a new set of provisions resulting from the One Big Beautiful Act that will influence what 2026 looks like. You will want to pay attention now, before the year gets too far along.
The structure behind real estate investment is key—the difference between a well-structured investment and a poorly structured one can be significant. Click for the details.
States can create their own tax laws—and that adds complexity for taxpayers who must file both federal and state tax returns. Click for more information and some specifics for Arizona.
New proposed changes to Form 990, which is filed by not-for-profit organizations, will focus on making an organization’s use of funds more transparent. Click for more details.
At its core, the federal R&D tax credit, enacted in 1981 to stimulate innovation and business investment, provides dollar-for-dollar savings tied to qualified research activities. It is now complemented by similar tax credits in many states and, together, federal and state credits can amount to as much as 20 percent of the costs incurred in…
The One Big Beautiful Bill Act (OBBBA) brought welcome news for businesses with the permanent return of 100 percent bonus depreciation. Businesses are now eligible to deduct the full cost of qualifying assets acquired and placed in service after Jan. 19, 2025. Until recently, bonus depreciation was scheduled to phase out entirely under previous law.…