By month: January 2025

Court Battles Rage: File Your FinCEN BOI Report Now or Wait?

Are you prepared for the twists and turns of the Corporate Transparency Act (CTA)? Court battles and shifting deadlines have thrown businesses into uncertainty about filing FinCEN’s beneficial ownership information (BOI) reports. This article breaks down the legal chaos, the risks, and your options—read on to decide whether you should file now or wait.

Download the Updated 2025 IRS Key Contact Information Guide Now

Tired of wasting time searching for the right IRS contact numbers and links? Our updated 2025 IRS Key Contact Information & Helpful Links guide puts everything you need at your fingertips: hotlines, resources, and essential tools. Don’t let frustration slow you down—download this must-have guide today!

Can Real Estate Professional Status Free Up Old Passive Losses?

Can real estate professional status unlock your suspended passive losses? Many real estate investors are surprised by the answer. Learn how the rules work and what it means for your tax strategy.

Are You a Real Estate Dealer or Investor?

Real estate dealer or investor? The IRS distinction could cost you big on taxes. Dealers pay up to 37 percent on gains, while investors enjoy a maximum tax rate of 23.8 percent. But the line isn’t always clear, and you might be both. Curious about how this impacts your bottom line? Dive in to navigate the high-stakes world of real estate tax classification and potentially save thousands.

Missed an Estimated Tax Payment—Now What?

Are you at risk of a costly penalty for missing your estimated tax payments? This article breaks down the basics of quarterly estimated tax payments, the best pay methods, and the key exceptions that can help you avoid or reduce the penalty.

Tax-Free Home Sale: When and Why You Need to Report to the IRS

Home sales are tax-free if the gain is less than the $250,000/$500,000 home sale tax exclusion. But even if the home sale is tax-free, you must report it on your tax return if the sale was reported to the IRS on Form 1099-S. And then, even if a Form 1099-S was not issued, it’s often wise to report the sale anyway.

Inherited IRAs: Critical IRS Updates for 2025

New IRS rules for inherited IRAs take effect in 2025, requiring many beneficiaries to start taking required minimum distributions (RMDs). Missing the RMDs can trigger penalties of up to 25 percent. For non-spousal beneficiaries, the entire IRA must be withdrawn by the end of the 10th year.

Access 2025 State Tax Department Contacts with This Handy PDF Download

Download this 2025 state tax department contact information update. It provides accurate, verified contact details for all 50 states and the District of Columbia, making it an excellent resource for tax professionals and business owners.

 

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