New IRS ruling treats some 351 exchange ETF conversions as taxable sales. See who is affected, what is still allowed and California rules. Book a review.
Deferred opportunity zone gains are taxed Dec. 31, 2026, and Opportunity Zones 2.0 starts in 2027. See what changes, California rules, and book a review.
Opportunity Zones 2.0: What the December 31, 2026 Deadline Means for Your Deferred Gains Read More »
If you held shares affected by the Scale AI Meta transaction, you may have received a large Form 1099-DIV. Here is what that cash payment means for your taxes, in plain terms. What we’re seeing with the Scale AI Meta transaction This tax season, we’ve worked through many cases involving transactions like the Scale AI
Eligible employees can deduct up to $12,500 ($25,000 joint) of FLSA overtime premium pay for 2025-2028. See who qualifies, limits and W-2 code TT.
No Tax on Overtime: How the New Overtime Deduction Works (Up to $12,500) Read More »
Buying a Home Before vs. After OBBBA: How the Rules Change for High-Income Individuals Understanding the OBBBA Changes Many high-earning individuals focus on mortgage rates when buying a house. However, few realize that tax law timing can have a six-figure impact on their real after-tax cost of ownership. The One Big Beautiful Bill Act (OBBBA),
Buying a Home Before vs. After OBBBA: How the Rules Change for High-Income Individuals Read More »
Updated October 2026 with the 2026 AMT amounts under the 2025 federal tax law. Exercising Incentive Stock Options (ISOs) and Non-Qualified Stock Options (NSOs) can be one of the most stressful parts of an equity compensation package, especially when the Alternative Minimum Tax (AMT) leaves you with a surprise bill. In this Silicon Valley case
Case Study: How to Calculate AMT on ISOs & NSOs: Equity Compensation Tax Guide Read More »
Last reviewed September 30, 2026. The rules below still reflect current California law. Moving out of California can change how your stock awards are taxed. This guide explains California equity compensation rules for restricted stock units (RSUs), incentive stock options (ISOs), nonqualified stock options (NSOs) and employee stock purchase plans (ESPPs). In short, California taxes
California Equity-Based Compensation Guidelines – Move from CA to Other States Read More »
An earlier version of this article was written with wikiHow and featured on its website. We updated it for 2026. If you earn a salary, you still have ways to lower your tax bill. First, you can shrink your taxable salary income with pre-tax contributions to retirement and health accounts. Then you can claim every
How to Reduce Your Taxes on Salary Income Read More »
If you run a business from home, you may use more than one room for work. So how many rooms can you count for the home office deduction? The short answer: there is no set number. The rule for the home office deduction Under Section 280A(c), you can claim a home office based on the
How Many Whole or Partial Rooms Can You Use for Your Home Office? Read More »
You likely formed an S corporation to save on self-employment taxes. If so, is your S corporation salary nonexistent, too low, too high or just right? Why your S corporation salary matters Getting the salary right is important, for three reasons. Taxes and penalties. If the IRS finds your salary too low, you will owe
Avoid Trouble: Don’t Let the IRS Set Your S Corporation Salary Read More »
If you run a business from home, you may be using things you first bought for personal use, such as a desk, a computer or a printer. When you start working at home and use those items for business, you may be able to depreciate them. Here is how the rules work. Note: These deductions
Working at Home? Don’t Overlook These Deductions Read More »
Selling a home in the U.S. as a nonresident alien raises two big questions. First, can you use the Section 121 home sale exclusion? Second, how does FIRPTA withholding apply? This guide answers both. What is the Section 121 exclusion? Internal Revenue Code Section 121 lets you exclude gain from selling your main home. A
Nonresident Aliens and The Section 121 Principal Resident Exclusion Read More »
Marrying a non-U.S. citizen changes how you file your U.S. tax return. This guide explains your filing status options when your spouse is a nonresident alien, and the trade-offs of each. Is your foreign marriage valid for U.S. taxes? The IRS looks to state or foreign law to decide whether a marriage is valid. In
Filing Taxes When Marrying a Non-U.S. Citizen Read More »
The IRS provides you with a choice of two methods for claiming business mileage on your taxes. You can use the actual expenses method to calculate your mileage deduction, which requires adding up all of the money spent operating your vehicle and multiplying it by the percentage that you used it for business. Or, you
How to Calculate Mileage Deductions on Your Tax Return Read More »
Some people who give up U.S. citizenship can get expatriate tax relief from the IRS. Under special procedures announced in 2019 (News Release IR-2019-151), certain former citizens may avoid the exit tax under Section 877A. In addition, they may avoid other unpaid taxes and penalties. Who can use expatriate tax relief? The relief applies to
IRS offers expatriate tax relief Read More »
If a federally declared disaster damages your property, you may be able to deduct the casualty losses a year early. Under Section 165(i), you can elect to claim the loss on your return for the year before the disaster. As a result, you may get a refund sooner, when you need cash most. Which casualty
Taxpayers may deduct casualty losses in prior years Read More »
RSU: Two reasons to sell the shares as soon as the RSU vest are: If you were paid a cash bonus, you wouldn’t use the money to buy company stock. So turn the stock bonus into cash by selling the shares immediately. You need to save for short-term goals (e.g., a down payment). It’s better
RSU: WHAT SHOULD I DO WITH COMPANY STOCK? Read More »
Restricted stock units (RSUs) are one of the most common ways companies share ownership with employees. If you work at a public company or a late-stage startup, you may already have them. This guide explains how restricted stock units work, how they are valued and how they are taxed. Restricted stock units at a glance
Equity Compensation 101: RSUs (Restricted Stock Units) Read More »
Your 2026 year-end tax planning checklist: new charitable and SALT rules, 401(k) and IRA limits, business depreciation, and deadlines through April 2027.
2026 Year-End Tax Planning Checklist for High Earners, Business Owners & Investors Read More »
IRS rolled out a new tool to prevent nasty refund surprises at tax time This tax season a bunch of stories hit the press full of taxpayer grumbling about bigger bills and smaller refunds. If this happened to you, that might be a cue to adjust the amount that your employer (or you, if you’re
TIME FOR A WITHHOLDING CHECKUP? Read More »
Home- and Mortgage-Related Deductions Mortgage interest deductions capped In the past, homeowners who took itemized deductions could count interest payments on debt related to buying, building or “substantially improving” a home — on debt up to $1 million. That’s been capped at $750,000 and applies to homes purchased after Dec. 15, 2017. Homes bought prior
INVESTMENT-SPECIFIC INTEREST AND TAXES Read More »
Although nearly 200 million Americans file tax returns every year, not everyone has to. But new tax laws and other filing requirements may have changed. Whether some of these citizens who haven’t had to file before legally require to file a tax return now. Previously, your age, income level, and filing status (married, single, etc.)
DO I HAVE TO FILE TAXES? Read More »
If you borrow money to invest, the interest you pay may be deductible. The investment interest deduction can offset part of the tax on your investment income. Here is how it works and how to claim it. What counts for the investment interest deduction? Investment interest is interest on money you borrow to buy property
Using the Investment Interest Deduction (Form 4952) Read More »
W-4 allowances were removed in 2020. Here’s how the 2026 Form W-4 works, what’s new from the 2025 tax law, and why California’s DE 4 still uses allowances.
What Happened to W-4 Allowances? The 2026 Form W-4 Explained Read More »
You’ve submitted your tax return for the year, so now what do you do? Instead of shoving all your records into a disheveled pile in a closet, now is a good time to get organized. Here are some tips on organizing tax records after you file to make sure you’re ahead of the game next year.
Organized Your Tax Paperwork Read More »
