Individual Tax Topics

Planning for the Estate Tax Exemption Cliff

2026 is just around the corner! We all knew it was coming, but now that it’s almost here, the pressure to use the increased lifetime estate and gift tax exemption…

Tax Rules for Rentals and Vacation Homes

The rise of booking platforms, like Airbnb and VRBO, makes it simple for taxpayers to rent vacation homes during down times. However, the IRS has clear guidelines for determining personal…

Income Exclusions for Members of the U.S. Armed Forces

Members of the U.S. Armed Forces are eligible for income exclusions to help increase their take-home pay. Understanding these income exclusions is essential for tax preparers assisting clients in the…

Tax Credits For Higher Education

Two credits are available to reduce the cost of higher education for taxpayers, their spouses. and their dependents: the American Opportunity Credit (AOC) and the lifetime learning credit. The following…

Saving For Retirement Through Backdoor Roths

Help your tax clients maximize their retirement savings with backdoor Roth IRAs and Mega Backdoor Roth IRAs. Learn how high-income earners can navigate income limitations and employ strategic maneuvers to bolster their retirement nest egg.

How to Correct Rejected E-filed Tax Returns

This article summarizes recent IRS guidance for tax practitioners when correcting e-filed returns that have been rejected. It focuses on specific steps to take, guidance on contacting the IRS e-help desk, and it addresses distinctions in handling rejections for business versus individual returns. It also offers insights into specific rules for dealing with e-filed extension rejections.