The One Big Beautiful Bill made 100% bonus depreciation permanent, but only for property acquired after January 19, 2025. Sign the contract a day early and you are capped at 40%. The date you committed to buy matters more than the date the asset shows up.
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A trust hits the top 37% bracket at just $16,000 of income in 2026, plus a 3.8% surtax. The 65-day rule lets you move that income onto a beneficiary's return at a lower rate, if you distribute in time and check the box on Form 1041.
Read postThe One Big Beautiful Bill created a deduction of up to $10,000 a year for interest on a new car loan, but only for a vehicle with final assembly in the United States. The write-off phases out above $100,000 of income and requires the VIN on your return.
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Gift splitting lets a married couple treat one spouse's gift as made half by each, giving one recipient two $19,000 annual exclusions in 2026. The election covers every third-party gift that year and often requires two separate Forms 709.
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A job move can unlock a partial IRC §121 exclusion before you have owned and lived in the home for two years. The clean safe harbor requires the new workplace to be at least 50 miles farther from the home, then prorates up to $250,000 per spouse.
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The S corp loss basis limit stops at the shareholder's stock basis plus loans made directly to the corporation. A bank guarantee adds nothing until the shareholder actually pays it, and Form 7203 carries the unused loss forward.
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An RMD cannot be converted to a Roth IRA. In 2026, the required amount must leave the traditional IRA first; only the dollars above it can move to Roth, even in the year the first RMD is due.
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The rental property de minimis safe harbor lets most landlords deduct qualifying items costing $2,500 or less instead of depreciating them. The catch is a book policy and an annual return election, not Form 3115.
Read postNIIT on rental income disappears only when the activity is nonpassive and the rent comes from an actual trade or business. Real estate professional status clears the first gate, not both; the 500-hour safe harbor can clear the second.
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IRC §1402(a)(1) excludes rental income from self-employment tax no matter how short the stays, but hotel-style services put you on the wrong side of the line: about $5,652 of extra tax on $40,000 of 2026 profit. Where CCA 202151005 draws it.
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Section 422(a)(2) gives you three months after employment ends before an ISO exercise is taxed as an NSO. On a $200,000 spread in 2026 that swap costs about $27,000 of extra tax. How the window works, and the disability, death, and extended-window exceptions.
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Between $505,000 and about $606,333 of MAGI, the $40,400 SALT cap shrinks 30 cents per dollar, so every extra dollar is taxed at 45.5%, not 35%. How the 2026 phase-down works, and the moves that keep income out of the band.
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