Tax School Blog

Practical tax insights for working tax professionals.
Written by tax professionals for CPAs, EAs, and tax preparers.

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Update on 2022 Federal Tax Workbook

Recently, more than 25 Tax School staff, instructors, authors, reviewers, and stakeholders from across the country gathered at the University of Illinois to review the Federal Tax Workbook. The…

Navigating the Illinois Income and Property Tax Rebates

Illinois officials recently passed legislation that puts money back in the pockets of taxpayers through a program known as the Illinois Income and Property Tax Rebates. These rebates can be…

Cryptocurrency Defined

NOTE FROM AUTHOR: The University of Illinois Tax School has invited me to be the instructor of a webinar they are hosting on Cryptocurrency & Taxes on August 16. I…

The Impact of Rising Interest Rates on Current and Future Homeowners’ Taxes

The pandemic sparked more than just a competitive job market and uncertainty surrounding the economy. In fact, one of the greatest impacts all Americans are facing is rising interest rates…

Deductible Start-Up Costs and Web-Based Businesses

It’s costly to start a business. Are the start-up costs deductible? As with many tax questions, that answer is — it “depends.” One item that the answer depends upon is…

Tax Issues with Customer Loyalty Reward Programs

Overview Many companies, including agribusiness retailers, utilize customer loyalty programs as a means of attracting and keeping customers. Under the typical program, each time a customer or “member” buys a…