Rental real estate activities are subject to passive loss rules that often limit a taxpayer's ability to deduct losses. Certain exceptions, such as qualifying as a real estate professional, can allow more favorable treatment. This article explains how passive activity loss rules function, why real estate professional status is beneficial, and options for taxpayers who don't meet the criteria.
In 2025, legislation was signed into law that increases the gift and estate tax exemption to $15 million for 2026, with annual inflation adjustments going forward and no expiration date. This provides more estate planning certainty, but not complete certainty. Lawmakers could still reduce the exemption in the future. This article provides two alternatives for leveraging the high exemption while building some flexibility into an estate plan.
Traditional and Roth IRAs can be relatively ''safe''' retirement-saving vehicles, depending on what they're invested in. But one drawback is that they limit the account owner's investment choices. A self-directed IRA provides more flexibility in investment choices but comes with greater risk as well. This article explains how self-directed IRAs work, what makes them appealing, and the rules investors must understand before moving forward.
Many tax law changes went into effect in 2025 under the One Big Beautiful Bill Act (OBBBA). But additional OBBBA provisions, as well as some annual inflation indexing, are going into effect in 2026. This article provides a sampling of some significant tax law changes for businesses this year.