The Tax Professionals Blog
Qualified Joint Venture
Spouses running a business together may qualify to elect out of partnership rules. This article explains requirements, reporting, and self-employment tax impacts.
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Highlights of Internal Revenue Bulletin 2025-51...
This week’s Internal Revenue Bulletin includes updates on PTIN rules, pension rate guidance, estate tax user fees, stock repurchase excise tax rules, and OBBBA-related income tax notices.
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Expenses of a Failed Business
Learn how Rev. Rul. 67-12 allows certain expenses of a discontinued business to be deducted when paid, and how to report them correctly.
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Highlights of Internal Revenue Bulletin 2025-50...
Internal Revenue Bulletin 2025-50 includes OPR disciplinary actions, guidance on new OBBBA tip and overtime deductions, advanced energy credits, and updated federal tax rates.
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Home Office in a Separate Structure
Selling a home with a separate business structure brings special tax rules. Learn how §121 exclusions, depreciation, and gain treatment apply—and how to plan for the best outcome.
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Highlights of Internal Revenue Bulletin 2025-49...
Here’s a look at important changes from IRS Bulletin 2025-49, featuring updated Section 415 limits and the new 2025 base period T-bill rate.
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