Jul 24, 2026
In this episode:
- Hobby loss rules – refresher on when the IRS may reclassify a business as a hobby.
- Trump accounts – contributing up to $5,000 for a minor without triggering a gift tax filing.
- Gift tax basics – $19,000 annual exclusion, filing requirements above that, and the $15M lifetime exemption.
- Gambling...
Jul 10, 2026
In this episode:
- Premium tax credit changes affecting Marketplace health coverage enrollees.
- Long-term care insurance premium deductions and new retirement plan withdrawal rules.
- A proposed Newborn Tax Credit and updates to ABLE accounts.
- IRS partnership audit trends and lingering ERC (Employee Retention Credit) claim...