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Tax School Blog

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

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The Extension Due Date Approaches

The Extension Due Date Approaches

For many tax professionals, April 18, 2022 marked the end of a long march toward the due date for individual and corporate tax returns. But for those individuals and businesses…
Disaster Relief for Taxpayers

Disaster Relief for Taxpayers

As Florida begins the recovery process from Hurricane Ian, Puerto Rico deals with the effects of Hurricane Fiona, and California continues to suffer from wildfires, we find ourselves in the…
Life Estates in the Distribution of Estate Assets

Life Estates in the Distribution of Estate Assets

Recently in the Tax School Facebook private group, an interesting question was raised regarding the transfer of real estate when an interest in the property is retained. The question concerned…
Special 100% Depreciation Allowance Ending This Year

Special 100% Depreciation Allowance Ending This Year

Over the last five years, we’ve grown accustomed to advising clients about being able to write off a lot of items that would otherwise be depreciated over a period of…
Is the IRA Still Stretchy?

Is the IRA Still Stretchy?

Since the passing of the SECURE Act it has become commonplace, as practitioners, to deal with the 10-year rule that has been placed on retirement plans for clients wishing to…
An Overview of the Inflation Reduction Act

An Overview of the Inflation Reduction Act

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 into law. The Act has various provisions affecting a broad spectrum of Americans, making it important to…