Taxes February 13, 2026
Tax Court Slams Brakes on Charitable Deduction
The Tax Court immediately nixed the deduction because of the inadequate substantiation and the lack of any appraisal for high-income items.
Taxes December 27, 2023
IRS Issues Guidance on Tax Credit for Clean Hydrogen Production
The Inflation Reduction Act (IRA) of 2022 provides a production credit for each kilogram of qualified clean hydrogen produced by a taxpayer at a qualified clean hydrogen production facility.
Taxes December 22, 2023
Georgia Tax Preparer Gets 2 Years in Prison for Tax Evasion
The professional tax preparer was accused of omitting $1.28 million in income from his own tax returns.
Taxes December 21, 2023
A PIG in a Poke – How to Use a Passive Income Generator Strategy
Instead of deals designed to generate losses in the formative years of a limited partnership, a PIG is set up to start churning out income right away.
Sales Tax December 21, 2023
Increasing Scrutiny on States’ Sales Tax Compliance
While South Dakota v. Wayfair changed the foundation of sales tax more than five years ago, the ripple effects are still as strong.
Taxes December 21, 2023
Clean Vehicle Credits Under the Inflation Reduction Act
If purchasing a new electric vehicle after Aug. 16, 2022, final assembly must take place in North America to qualify.
Tax Planning December 21, 2023
2024 Tax Planning Tips from Grant Thornton
Recent tax changes coupled with the potential for an economic slowdown have made it even more critical for companies and individuals to make smart decisions on investments and financing.
Taxes December 20, 2023
The Tax Benefits of ‘Bunching Up’ Year-End Charitable Deductions
The tax law allows you to deduct contributions made to qualified charitable organizations, within generous limits, but only if you itemize deductions.
Taxes December 19, 2023
IRS: Collection Notices Are Coming Back in 2024
The IRS has hit the restart button on sending out automated collection notices, ending a two-year hiatus because of the COVID-19 pandemic.
Taxes December 19, 2023
New York Considers New Taxes on Guns and Ammunition
Firearms and ammunition are already subject to New York sales tax. If New York State Senate Bill 7733 is enacted, it will place an additional excise tax on the sale of firearms and ammunition.
Taxes December 19, 2023
Hunter Biden Faces Jan. 11 Arraignment on Tax Charges
Hunter Biden must respond to federal charges that he failed to pay taxes on millions of dollars he received from foreign businesses.
Taxes December 18, 2023
IRS Expands Business Tax Accounts to Include S Corporations and Partnerships
Individual partners of partnerships and individual shareholders of S corporation businesses are now eligible for a business tax account in addition to sole proprietors.
Taxes December 15, 2023
Bill Would Give Tax Credits for Rare Earth Magnets Made in the U.S.
The legislation would provide a $20 per kilogram production tax credit for rare earth magnets manufactured in the United States.