In this fourth installment of my multi-part series on the One Big Beautiful Bill Act (the “Act”), Steve Nofziger and I discuss a provision of the Act that impacts pass-through business entities and ...

In a case of first impression for the Eleventh Circuit, the court affirmed a Tax Court holding that expenses of activities not engaged in for profit, i.e., hobbies, are allowable only as miscellaneous ...

Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.

The Treasury has released a preliminary list of jobs that qualify for the new tip deduction. A whopping 68 occupations, including podcasters and bakers, made the list—some of them may surprise you.

NEW YORK — When tackling your taxes, it can sometimes be hard to figure out whether to itemize or opt for a standard deduction. According to tax pros, itemizing generally makes sense only if your ...

Thanks to provisions in the One Big Beautiful Bill Act, the standard deduction has been super-sized for seniors: Taxpayers 65 and older can now claim up to an additional $6,000 without itemizing their ...

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