The Tax Professionals Blog
Per Building Safe Harbor Rule: Section 263 Expl...
The Per Building Safe Harbor Rule can help clients deduct qualifying repair and maintenance costs instead of capitalizing them. A valuable tool for tax savings, compliance, and better cash flow...
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Understanding the Partial Disposition Election
Learn how the partial disposition election under Reg. Sec. 1.168(i)-8(d) allows taxpayers to recognize losses on replaced building or asset components.
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Highlights of Internal Revenue Bulletin 2026-07...
IRB 2026-07 includes OPR disciplinary sanctions, updated adequate disclosure rules for penalty relief, and a deadline extension to 12/31/2027 for SECURE 2.0 IRA, SEP, and SIMPLE plan amendments.
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De Minimis Safe Harbor Expensing for Businesses
Learn how de minimis safe harbor expensing works, including $2,500 and $5,000 limits, annual election rules, and how businesses can simplify expense deductions.
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Highlights of Internal Revenue Bulletin 2026-06...
IRB 2026-06 is out with updates on depreciation rules, rollover safe harbors under SECURE 2.0, federal rates, and key administrative corrections tax pros should note.
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Real Estate Professional Rules and Rental Loss ...
This article explains the $25,000 rental passive loss allowance and how qualifying as a real estate professional may allow unlimited loss deductions. Learn more about eligibility and planning strategies.
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