deepdive.

A frequently encountered issue is when an elderly parent turns the title of his or her home over to a child or other beneficiary and continues to reside in the home, thinking that it is the correct thing to do, but without considering the tax repercussions.

When engaging in business overseas, it's crucial to understand how travel expenses are treated under U.S. tax law. Unlike domestic travel, where transportation costs are often fully deductible if the trip is "primarily" for business, foreign travel requires a more granular day-by-day calculation to account for personal time. 

Individuals have many options when they cannot pay their tax liability, including setting up an IRS payment plan, tapping a retirement plan, acquiring a home equity loan and borrowing money from a friend or relative. Each option has negative implications, and some have substantial fees, penalties and/or interest.

If your federal tax refund is seriously overdue, it’s normal to feel worried — especially if you were counting on that money for bills or other expenses. Before panic sets in, here’s a clear, practical guide explaining what may be happening, why a new IRS administrative change could be the culprit, and exactly what steps you should take now.

Early 2025 tax returns filing data indicates substantial use of the new tax law’s signature middle‑class tax changes, and the average refund rose compared with last year. However, polling suggests room remains to improve taxpayer awareness and not all eligible people, especially those with tip and overtime pay, took full advantage of the new law.

Think you can afford a new hire? The true cost goes far beyond salary. Learn how to evaluate hiring decisions and avoid costly mistakes for your business.

From side hustles to creator income, Gen Z is earning in new ways—but missing key tax rules. Learn the most common mistakes and how to avoid them early.

The IRS is successfully challenging aggressive tax strategies using the economic substance doctrine. Learn what recent cases mean for your business and tax planning.

A recent federal court decision could open the door for refunds of certain IRS penalties and interest assessed during the pandemic. Learn who may qualify and why July 10, 2026 matters.

The U.S. penny is being phased out. Learn how rounding, pricing strategy, and payment trends could impact your business—and what to do now.

A former NBA executive was sentenced for embezzling millions. Here’s what the case reveals about internal controls and business risk.

Struggling with slow-paying clients? Learn how to protect your cash flow, improve collections, and get paid faster with smarter payment terms and systems.

Most business owners track revenue—but miss the numbers that actually matter. Learn the 3 key metrics to monitor monthly to improve cash flow, profitability, and growth.

The Real Estate Professional designation is coveted among property owners due to its potential to significantly reduce how passive activity losses are taxed.

New policies target drug prices and retirement access. Here’s what the latest White House announcements mean for Americans.

For taxpayers sitting on significant capital gains in 2026, the strategy for when to sell and reinvest in qualified opportunity zones (QOZs) has shifted dramatically. Under the new OBBBA rules, waiting until 2027 to reinvest can unlock far superior benefits compared to the original QOZ program framework.

If you pay substantial state and local taxes (SALT), itemize your deductions, and feel the pain of the federal cap on SALT deductions, the pass-through entity elective tax (PTET) may provide you relief to overcome the limit on deducting state and local taxes on your tax return.

Gas prices jumped after the Iran conflict began and that could mean the IRS will raise the business mileage rate mid‑2026. Consider why the actual‑expense deductions method could be better this year, and what records are needed.

Do you know there is a tax code section that specifies the term “income” means all income from whatever source derived, regardless of its source or amount, counts as taxable income unless specifically excluded by law?

IRS enforcement is increasing with more data-driven reviews and notices. Learn why and what steps to take if you receive a notice.

AI can help small businesses reduce operating costs, improve efficiency, and increase profit margins. Learn how to apply it strategically.

College acceptance season is here. Learn how parents can compare net costs, use smart funding strategies, and make tax-efficient decisions.

“Kiddie Tax" is a term that refers to the tax imposed on the unearned income of children to prevent families from exploiting a lower tax rate by shifting income to their children to take advantage of lower tax brackets.

You've probably seen the advertisements promising quick cash for unneeded life insurance policies, targeting those who might not see the need for policies anymore. While these transactions can indeed serve a financial purpose, the process of selling a life insurance policy, known as a life settlement, comes with a labyrinth of financial implications, particularly around taxes.

As America’s population ages, many taxpayers are making home modifications to help prevent falls or accommodate age-related infirmities. While home improvements generally are not tax-deductible, a medical expense deduction for medically necessary home modifications may be claimed for costs that exceed any resulting increase in the home’s value. To benefit, the taxpayer must itemize deductions and...