TAXPAYER RESOURCES

With tax laws changing every year, completing your returns can be confusing and frustrating.

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Tax news and updates for individuals, families, and entrepreneurs

Our team of tax experts has the solutions to make your next filing a little easier — and that insight is just a click away. Browse our archive of tax-related posts below, and click the button to sign up for our newsletter and updates.

Selling mutual funds has consequences

Jun 14, 2024

Investing in mutual funds is popular, but selling shares may result in complicated tax matters. Here are the rules.

Reverse mortgage appeal rises with home value

Jun 7, 2024

If you’re 62 or older and own a highly appreciated house, a reverse mortgage may provide a way to stay in the home for your lifetime, gain extra income, and receive a tax-saving bonus.

Tax rules vary when hobby becomes business

May 17, 2024

There are a number of different hobbies that some taxpayers turn into businesses. Here’s how they can protect tax breaks on their tax returns.

Outsourcing options to consider for dental practices

May 13, 2024

Comprehensive financial reporting often isn’t a priority for many dental practices, but it’s a growing necessity in a competitive marketplace.

Rules expanded for OT, noncompete agreements

May 7, 2024

New federal rules regarding overtime pay and noncompete agreements have recently been approved.

IRS extends relief for inherited IRAs

May 1, 2024

If you’ve inherited an IRA, you need to know about the latest IRS guidance.

The journey to 2025 tax reform begins

Apr 29, 2024

(authored by RSM US LLP) House Ways & Means Committee Chairman Jason Smith (R-MO) and House Tax Subcommittee Chairman Mike Kelly (R-PA) recently announced the formation of 10 “Committee Tax Teams”. Each team will address key tax provisions from the 2017 Tax Cuts and Jobs Act (TCJA) that are set to expire in 2025 and identify legislative solutions.

IRS clarifies energy efficiency rebates

Apr 28, 2024

The IRS has offered guidance on the tax treatment of energy efficiency rebates introduced by the Inflation Reduction Act.

Tennessee enacts major changes to franchise tax

Apr 26, 2024

The state’s decision to remove the property value option – or “alternative base” – from Tennessee’s franchise tax is expected to provide $1.55 billion in refunds for about 100,000 businesses.

"We saved one client $700,000 using R&D credits — credits that the company’s previous CPA told them they were not eligble to claim. We stay on top of the latest tax laws to help clients reduce their taxes.”

Mark Patterson, KraftCPAs Tax Services

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