Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

The Internal Revenue Service has announced several changes for the 2001 tax year that adjust tax laws to reflect inflation. One change affects the way donors calculate their charitable deductions.

When it comes to your finances, understanding the various components that make up your taxable income is crucial. Adjusted gross income (AGI) is a key element of that equation. It’s essentially your ...

Editor’s Note: The CARES Act made several changes designed to encourage charitable giving during the COVID-19 outbreak. For the 2020 and 2021 tax years, the CARES Act amended IRC Section 62(a), ...

In a case of first impression for the Eleventh Circuit, the court affirmed a Tax Court holding that expenses of activities not engaged in for profit, i.e., hobbies, are allowable only as miscellaneous ...

March 12, 2025 Add as a preferred source on Google Add as a preferred source on Google With the April 15 deadline right around the corner, you want to ensure you're taking advantage of all the ...

A few months ago, in response to a question from a reader, I discussed the deduction of health care premiums. I received many responses, and several readers raised issues related to this deduction.