Taxes July 22, 2025
Operation Needed to Claim Net Operating Losses
Prior to the Tax Cuts and Jobs Act (TCJA) NOLs could be carried back two years to offset taxable income before being carried forward for up to 15 years.
Taxes July 15, 2025
Trump Tax Law Could Be to Blame If Your Employer Gets Rid of This Longstanding Office Perk
Beginning on Jan. 1, companies in the U.S. will no longer be able to deduct the cost of snacks, coffee or on-site lunches provided to workers, according to a provision in the "big, beautiful bill."
State and Local Taxes February 6, 2025
Trump Considers Ending Carried Interest, Expanding SALT Deduction
President Donald Trump outlined his tax priorities in a meeting with Republican lawmakers, including a call to end the carried interest tax break used by private equity fund managers and expand the state and local tax deduction.
Taxes February 4, 2025
IRS Says No Tax Deduction for IVF Expenses of Surrogate
In a new private letter ruling, the IRS said that in vitro fertilization (IVF) expenses for a surrogate on behalf of a married couple are not deductible by the couple as a medical expense under the tax code.