ERC Refund in 2026: One Great Way to Handle It
If your business receives an Employee Retention Credit (ERC) refund in 2026 for wages paid in 2020 or 2021, you may have an important tax planning opportunity. Many businesses filed ERC claims years after they filed their original income tax returns. Because the IRS took so long to process many claims, some refunds are only […]
When Self-Created Intangibles Are Taxed as Ordinary Income
If you plan to sell a business or an intangible asset, you need to understand a critical tax rule that can significantly increase your tax bill. Tax law treats many self-created intangible assets as non-capital assets. This treatment means you must report the gain as ordinary income instead of lower-taxed long-term capital gain. This rule […]
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 […]
IRS Moves Toward All-Electronic Refunds: What You Need to Know
Your tax refund will no longer arrive by paper check. The IRS recently announced that it will stop issuing refund checks, with limited exceptions, and will require taxpayers to receive refunds electronically. Why the Change?Paper checks cost more, create security risks, and take much longer to process. In addition, the Trump administration directed all 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 […]
Avoid These 7 Costly Mistakes People Make Without a Financial & Tax Check-Up
W-2 vs. Business Owners: Why Everyone Needs a Custom Financial Health Strategy In today’s unpredictable economy, understanding your financial health is not just smart—it’s essential. Whether you’re a W-2 employee with a stable paycheck or a small business owner navigating variable income, a one-size-fits-all approach to money management won’t cut it. As a CPA with […]
Year-End 1099-NECs Are Often Wrong—And How to Correct Them
Did you receive a Form 1099-NEC that overstates your income? You’re not alone—and it could mean you’re paying more taxes than you owe. This problem often arises at year-end when a business issues a 1099-NEC based on what it paid rather than what you received. For example, if you were paid in January for the […]