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The Newest Tax Scam That All Entrepreneurs Should Know

The Newest Tax Scam That All Entrepreneurs Should Know This involves purchasing collapsible housing units offered by a Utah-based company where supposedly, you can claim a tax deduction of five times your cash outlay with a rapid depreciation deduction. According to the pitch, purchasers can then rent the unit to government agencies like the Federal Eme...

AI Hallucinated Tax Law Causing Major Problems For Entrepreneurs

AI Hallucinated Tax Law Causing Major Problems For Entrepreneurs A recent Tax Court case, Clinco, T.C. Memo. 2026-16, shows exactly what not to do when using Artificial Intelligence (AI). The decision provides a cautionary example for all entrepreneurs navigating the growing use of AI in accounting, tax, and legal research The case involved the 2015 tax return of...

Tax Law Proposals For This Year That Entrepreneurs Should Know

Tax Law Proposals For This Year That Entrepreneurs Should Know Congress returned to work this morning. The first thing on their agenda is a spending bill that would keep the government open through December. However, several tax bills are in the works that may affect year-end planning. Those bills include… 1 – An Increase In the Capital Gains Exclusion Sinc...

Entrepreneurs Are Taking Advantage Of Illinois' Newest Tax Credit

Entrepreneurs Are Taking Advantage Of Illinois' Newest Tax Credit During a shoot in suburban Chicago last month, Ellen White, the chief executive of sustainability consultancy EcoFixr stood beside a neat row of receptacles marked “landfill,” “compost” and “mixed recycle” while the crew working on a Walgreens commercial finished its catered Mexican lunc...

Local Property Tax Increases Higher Than Inflation Rate Again

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What All Entrepreneurs Should Know About The Voluntary Disclosure Program

What All Entrepreneurs Should Know About The Voluntary Disclosure Program The IRS Voluntary Disclosure Program (VDP) has long offered taxpayers with unreported income a path to compliance before the agency discovers the problem independently. In 2026, proposed changes to the program’s penalty structure are reshaping the math in our favor for coming forward. Major change...

IRS To Stop Illegals From Receiving Refundable Tax Credits

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No Tax On Overtime Just Became A Nightmare For Employers

No Tax On Overtime Just Became A Nightmare For Employers Our friends at the Internal Revenue Service just updated its guidance for the No Tax On Overtime Rule that went into effect last year. The changes aren’t going to be easy and will cause substantial difficulties for employers. But before I get into all of that, let’s review the basics on this law...

IRS Mistakes Multiply Exponentially

IRS Mistakes Multiply Exponentially The Internal Revenue Service’s overall improper payment rate on tax breaks like the Earned Income Tax Credit increased from 21.9% in fiscal year 2024 to 26.5% in 2025. The total estimated improper payments amounted to approximately $28.1B, according to a new report. The report, released last week ...

BOI Reporting Rule For Entrepreneurs To Be Officially Nullified

BOI Reporting Rule For Entrepreneurs To Be Officially Nullified The Financial Crimes Enforcement Network (FinCEN) will issue a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act. The final rule is effective once published in the Fe...