“OBBBA Falls Short on Casualty Reliefbut Yields a Small Win” To get my complete article with all the details… $80,000 uninsured loss. $0 tax deduction. Presidential disaster declaration required. Two calculations that eliminate deductions even when you qualify. One exception bypasses everything. No declaration needed. No deduction-killing calculations. Works … [Read more...]
The Life Insurance Rule Nobody Warns You About
“Selling a Term Life Insurance PolicyCreates Thorny Tax Issues” To get my complete article with all the details… Find Answers to Three Questions Uncle Bob has a $1 million term life policy. His nephew Joe pays him $10,000 and agrees to pay all future premiums because Uncle Bob made Joe the beneficiary.Three questions: CLICK HERE to read my completely new article … [Read more...]
Big Win for Many Business Borrowers Starting This Year
The OBBBA Change That Could Add Thousandsin Businesses Interest Deductions To get my complete article with all the details… Business owners, who are not exempt from the business interest limits, have struggled for years with the TCJA’s tight limits on deducting interest. But thanks to the One Big Beautiful Act (OBBBA), that’s changing—starting this year. For … [Read more...]
Are Your Tips Really Tax-Free Under the OBBBA?
Why Many Workers Won’t Benefit from the“No Tax on Tips” Law To get my complete article with all the details… The OBBBA’s new “No Tax on Tips” law sounds like a huge win for millions of service workers—but don’t celebrate just yet. While the law promises a break for tipped employees and self-employed workers, the reality is packed with fine print, phaseouts, and … [Read more...]
The IRS Just Published the Tips List—Are You On It?
68 Occupations Can Deduct$25,000 in Tips—Are You One? To get my complete article with all the details… The IRS just published the official list. 68 occupations. 8 industries. If you're on it, you qualify for the $25,000 tips deduction. If not, you're out. Some occupations make no sense. Others create legal conflicts. Jobs explicitly excluded by law somehow … [Read more...]