Many taxpayers panic when they hear the term “depreciation recapture” and decide to skip depreciation on a home office to avoid future tax. Should you do this?

Serious real estate investors rely on the Section 1031 exchange because it allows them to grow wealth faster while legally deferring federal income taxes.

The No Tax on Tips deduction applies retroactively beginning January 1, 2025, and the IRS has designated 2025 as a transition year. As a result, the deduction operates differently for 2025 than for later years.

Taxpayers often assume that clothing purchased for work qualifies as a tax deduction. The tax law takes a much narrower view.

You can claim a federal income tax credit for installing electric vehicle chargers or other alternative-fuel refueling equipment, but the credit disappears for anything you place in service after June 30, 2026.

After four years of work, the IRS has finalized its cryptocurrency regulations, and crypto tax reporting now begins. Starting with the 2025 tax year, custodial crypto platforms must report taxable crypto transactions directly to the IRS.