Key Considerations for Enrolled Agents in the Upcoming Tax Season
The Tax Cuts and Jobs Act (TCJA) of 2017 brought substantial changes to individual income taxes, but many of these provisions are scheduled to expire at the end of 2025. As tax practitioner... Stephen Molchan, EA
Ice, Ice Baby and the Accession to Wealth
Clarice’s grandma left her an old wooden box full of recipes and a set of antique furniture. Clarice was excited to see the exact recipe for her grandma’s famous apple pie, but, to her surprise, the box held another secret. Nestled in that recipe box, in it... Kimberly Nava-Jones, EA
Tax Planning Versus Preparation – What Is the Difference?
Visit social media or Google these days and you will most likely see advertisements for tax planning. But many taxpayers (and even tax professionals) are confused about the differences between tax planning... Dominique Molina, CPA
Assessable Penalties and Abating Them
The United States federal tax system operates on a system of somewhat voluntary compliance. However, human nature being what it is, a voluntary system without a means of enforcement lends itself to fraud, ignorance, and disregard. I... David Woods, EA
Demystifying §199A and Rental Activities
I read Gil Charney’s analysis of the application of §199A to a rental activity in the September/October 2019 edition of EA Journal (“Your Questions Answered,” pp. 12-13) and I do not agree with it. In that case, I believe the taxpayer clearly qualifies to take the §199A deduction on th... Thomas A. Gorczynski, EA, CTC, USTCP