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Tax Tips for March 2026

Tax Tips for March 2026

by | Mar 26, 2026 |

Click on the links below to jump to each section in this article: Don't Let the AMT Catch You Off Guard 2025 IRA Contribution Deadline Is Coming Up Understand the Tax Details When Starting a Business   Don't Let the AMT Catch You Off Guard Are you subject to the alternative minimum tax (AMT)? In general, this tax applies if your “tentative minimum tax” exceeds your regular income tax liability. Significant long-term capital gains and dividend income or recently exercised incentive stock options can trigger the AMT. Although the 2025 tax legislation, commonly known as the One Big Beautiful Bill Act, makes higher AMT exemptions permanent, it phases them out twice as fast beginning in 2026. Also, the legislation quadrupled the limit for the state and local tax deduction, which isn’t...

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Tax Tips for March 2026

Tax Tips for February 2026

by | Feb 26, 2026 |

Click on the links below to jump to each section in this article: 2026 Tax Law Changes for Businesses Which Parent Gets the Tax Breaks After Divorce? If You're Closing Your Business, Don't Forget These Tax Steps   2026 Tax Law Changes for Businesses Here’s a sampling of some significant tax law changes going into effect this year: Increase of the Section 179 expensing limit to $2.56 million and the phaseout threshold to $4.09 million (up from $2.5 million and $4 million, respectively, for 2025). Expansion of the income ranges over which the Section 199A qualified business income deduction limitations phase in, generally to $201,750 — $276,750 (up from $197,300 — $247,300 for 2025), double those amounts for married couples filing jointly. Reduction of the threshold for the excess...

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Estate Planning for 2026 and Beyond

Estate Planning for 2026 and Beyond

by | Feb 10, 2026 |

Until recently, much tax uncertainty surrounded estate planning. The Tax Cuts and Jobs Act doubled the federal gift and estate tax exemption to an inflation-adjusted $10 million, but only for 2018 through 2025. Fortunately for those with larger estates, in 2025, legislation was signed into law that increases the exemption to $15 million for 2026, with annual inflation adjustments going forward — and no expiration date. This provides more estate planning certainty, but not complete certainty. Lawmakers could still reduce the exemption in the future.

If your estate is large, transferring assets to loved ones or trusts sooner rather than later may be beneficial. It can lock in tax savings should the exemption be reduced in the future.

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Unlock Bigger Deductions on Rental Real Estate

Unlock Bigger Deductions on Rental Real Estate

by | Feb 2, 2026 |

Many rental property owners are surprised to learn that federal tax law often restricts their ability to deduct losses, treating most rental activities as passive unless specific requirements are met. But if you can qualify for the real estate professional exception, you may be able to turn otherwise suspended losses into immediate tax savings.

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