Taxes

Now is an excellent time to review how your clients’ legal structure affects their business and personal taxes. Let’s look at the types of entities, how taxes are filed, and when clients should consider changing their entities.

A Section 529 plan is a tax-favored way to save for a child’s college education. Contributions can grow without any current tax while distributions to pay for qualified expenses like tuition are tax-exempt.

The F-150 Lightning is one of 10 electric vehicles to qualify for the full $7,500 in tax breaks. But only the most stripped-down models.

Thanks to last year’s Inflation Reduction Act, the IRS got a funding boost that enabled it to improve taxpayer service.

The new functionality enables Bloomberg Tax Provision customers to automate workflows across the tax provision lifecycle.

Effective statistical tools can be used by those who review scientific studies to help detect and investigate suspect data.

The bill would expand eligible uses of 529 savings plans to include fees and expenses required to obtain or maintain recognized post-secondary credentials.

The AICPA is asking that the IRS provide guidance that will clarify how digital asset losses are handled in various scenarios.