2026 Tax Insights

Affordable Healthcare Marketplace Alert!

If you purchase health insurance through the Affordable Care Act (ACA) marketplace and receive premium tax credits, a major rule change begins in 2026—and it could create a painful surprise. Under prior rules, if your income came in higher than expected, the amount of excess ... (continued)

Goodwill Deductions--Beware of This Trap!!

If you donate clothing or household goods to charity, there’s an IRS trap you need to know about. In a recent Tax Court case, a taxpayer lost a $6,760 charitable deduction—not because the donations were improper, but because his documentation failed to meet strict technical ... (continued)

Employer Child Care Credit enhanced!

Beginning in 2026, the One Big Beautiful Bill Act increases the employer childcare credit for small businesses to 50 percent of qualified expenses, up to $600,000 per year. Even one-owner businesses can benefit—and the savings are substantial. If you operate as a sole proprietor, you ... (continued)

Beware of Transactions with Family Members

Family relationships and overlapping ownership can quietly sabotage well-intentioned tax planning. Internal Revenue Code Section 267 often causes the damage. This rule does not announce itself with penalties or warnings. Instead, it erases deductions, disallows losses, and delays expenses after the transaction feels complete. Section ... (continued)

Employer Tax Credits for Providing Child Care-YES!

The One Big Beautiful Bill Act (OBBBA) dramatically expanded the employer childcare credit starting in 2026, turning a modest tax break into a significant planning opportunity for many businesses. The employer childcare credit allows businesses to claim a general business tax credit for qualified childcare ... (continued)

Married Couples Owning Real Estate in LLC-Must Read!

Many married couples form an LLC to own rental property to obtain liability protection. After they create the LLC, they often ask an important tax question: Does the LLC force them to file a partnership return? The answer depends largely on where they live ... (continued)

USPS has Changed Postmark Date--Be Aware!

For decades, taxpayers trusted a simple rule: if you mailed a tax return or payment by the deadline, the IRS treated it as timely filed. Recent U.S. Postal Service (USPS) practices have changed that reality and created a serious trap for anyone who relies ... (continued)

More on the Taxability of Tip Income

Congress created a valuable new tax break for tipped workers under the One Big Beautiful Bill Act. The No Tax on Tips deduction applies retroactively beginning January 1, 2025, and the IRS has designated 2025 as a transition year. As a result, the deduction ... (continued)