Tax Plan: Buy $500,000 of Goods on December 20 and Expense Them
If your business sells merchandise, there may be a valuable year-end tax planning opportunity that many small-business owners overlook. Under today’s tax rules, many qualifying small businesses can deduct the cost of inventory when it is purchased and paid for—even if the goods remain on the shelf at year-end. But there is one critical requirement: […]
How to Get the IRS to Pay Your Attorney Fees
If you successfully challenge the IRS, you may be able to recover your attorney fees and other professional costs—but only if you meet several strict requirements. One of the biggest hurdles is your net worth. Individuals generally qualify only if their net worth does not exceed $2 million. Married couples filing jointly have a $4 […]
Lawyer Burned by Fake AI Tax Cases—Don’t Be Next
Artificial intelligence (AI) is all the rage today. AI tools like ChatGPT, Claude, Grok, and Perplexity are being used for everything, including legal research. But beware! AI is not perfect. It’s not even intelligent. AI doesn’t think like a human, and it has no internal fact-checker. It produces new content by analyzing vast amounts of […]
Do You Need a W-2 for Spouse-Employee 105-HRA Benefits?
If you employ your spouse in your business and use a Section 105-HRA to deduct family medical expenses, you may be wondering whether issuing a W-2 is necessary. The good news from a tax law standpoint, a W-2 is not required. IRS guidance and court decisions confirm that medical reimbursements under a properly structured Section […]
A Little-Known Way to Pay Family and Save on Taxes
Many business owners overlook a powerful strategy that allows them to pay family members, reduce taxes, and avoid payroll taxes altogether. You likely know the traditional approach: hire your child and put them on payroll. That strategy works well for younger children in a sole proprietorship. But once your child turns 18—or if you operate […]
$12,000 Door Replacement: Repair or 39-Year Asset?
When a five-figure commercial building expense hits your desk, the first question is simple: Can you deduct it, or must you depreciate it over 39 years? Consider a recent example. An office building owner replaced a failed sliding glass door and frame at a total cost of $12,000, including removal and installation. The new unit […]
Late Filing Costs Estate $1.5M—Will Yours Be Next?
With today’s $15 million federal estate and gift tax exemption ($30 million for married couples), it’s easy to believe estate tax planning is no longer a concern. But a recent Tax Court case proves otherwise—an estate lost $1.5 million simply because a portability election was not properly and timely filed. Here’s the key issue: When the […]
The Business Owner’s Tax Survival Guide — 2025 Edition: Navigate New Rules, Maximize Deductions, and Bulletproof Your Business
By AG Fintax Expert Team | Business Tax Strategy & Compliance Specialists The 2025 tax landscape presents both unprecedented opportunities and hidden landmines for business owners. With major tax provisions expiring, new regulations taking effect, and an increasingly aggressive IRS enforcement environment, business owners who operate with outdated tax knowledge are walking into a financial […]
Urgent: Want an Electric Vehicle? Act by September 2025
If you’re considering the purchase of an electric vehicle for your business or personal use, now is the time to pay close attention. On July 1, the U.S. Senate passed a tax bill that proposes to terminate the following three major electric vehicle tax credits, effective September 30, 2025: Section 45W—Commercial Clean Vehicles Credit. Up […]
Understanding the Medicaid Impact of Trump’s “One Big Beautiful Bill”
By AG FinTax | July 2025 | Policy Insights President Trump’s recently enacted “One Big Beautiful Bill” (OBBB) isn’t just a tax reform headline—it’s a sweeping policy overhaul with significant ripple effects across healthcare, particularly Medicaid. While most of the public conversation has centered around individual tax cuts and business incentives, the changes to federal […]
Top 5 Mistakes That Will Cost You Under the New OBBA Tax Law
A thriller-style breakdown of the most dangerous assumptions lurking in your 2025 tax return. The Date Was July 4th. The bill was signed. The fuse was lit. And the countdown began. Now, with less than 6 months to react, taxpayers are walking straight into a trap. Why? Because OBBA doesn’t punish what you do wrong—it […]
The Midnight Signature: Winners, Landmines, and the Hidden Blueprint in Your 2025 Tax Return
A suspense thriller for small business owners, HNIs, professionals, and high-income W-2 earners — written by the CPA who reads between the lines. July 4, 2025 – America Watched Fireworks. Washington Lit a Fuse. At 11:47 PM, while the skies burst with color, a single pen carved new code into American tax law. OBBA — […]