Our Blogs
On our blogs you will find our Tax Sherpa Stories series as well as additional posts covering all manner of tax topics. Some items are timely as there are multiple tax filing dates throughout the year and some items are important larger concepts.
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- technology
Audited by Algorithm: How AI Is About to Change IRS Audits Forever
The IRS and Palantir are building an AI technology stack to fuel future audits. Learn how it works and how you can build a system of your own to defend yourself.
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2025 New Car Loan Interest Deduction Explained
Claim interest on your new car loan in 2025 if you qualify. Learn who’s eligible, how to claim it, and when the deduction actually makes financial sense.
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OBBBA SALT Deduction Changes: What Taxpayers Must Know
Learn how the OBBBA expands SALT deductions, new income phaseouts, planning strategies, and what solopreneurs and small business owners should do now.
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The Return of Itemized Deductions: How Tax Strategy is Shifting for Homeowners in 2025
Discover how rising mortgage costs and new tax laws make itemizing deductions smarter in 2025. Learn who benefits and how to plan for bigger savings.
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Understanding IRS Penalties: 4 Costly Types & How to Avoid
Understand the 4 IRS penalties: underpayment, failure to file, failure to pay, and interest plus safe-harbor rules and proven tips to avoid or abate them.
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Federal Shutdown 2025: Critical IRS Tax Deadline Updates for Small Biz
What the Federal Shutdown means for your IRS tax deadlines in 2025. Discover key impacts on refunds, notices, and what small business owners must do now.
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What to Do If You Win the Lottery | Tax Strategy Tips
What to do after a big lottery win. Avoid tax traps, protect your wealth, and turn a windfall into generational security with smart tax strategies.
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One Big Beautiful Bill Passes!
Decode the One Big Beautiful Bill (OB3): key 2025 tax breaks, credits, and compliance tips every small business owner needs before the new rules kick in.
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IRS Online Payments Going Mandatory – What Solopreneurs Must Know
The IRS is phasing out paper checks by 2025. Learn how to manage IRS online payments, direct pay options, and avoid refund delays or fraud.
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🧠 Solo 401(k) for S-Corp Owners: Rules, Limits & Setup Guide
Learn how to set up a Solo 401(k) for your S-Corp. Explore rules, contribution limits, Roth options, and the best retirement plans for owner-employees.
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The $150,000 Tax Cut Proposal: Will It Save You Money or Wreck the Economy?
A new tax proposal promises to eliminate federal income taxes for those earning under $150,000. But is it financially viable? Discover the hidden costs, payroll tax realities, and economic impact of this bold plan.
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The BOI Reporting Rollercoaster: A Cautionary Tale for Small Businesses
🚨 BOI Reporting Rollercoaster: What Just Happened? 🎢 Small business owners, buckle up! The Beneficial Ownership Information (BOI) reporting saga has taken wild twists and turns—court battles, shifting deadlines, and a shocking last-minute exemption for U.S.-based businesses. What does this mean for you? No BOI filing, no penalties, and more time to focus on growing your business! 🚀 🔍 Read our latest breakdown of this compliance chaos and stay ahead of future changes. Don’t let regulatory surprises catch you off guard!
Read more → - tax concepts
Think Twice Before Filing Your 2024 Taxes
Major tax changes could be coming in 2025! Find out why waiting to file your 2024 taxes might be the smartest financial move you make this year.
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Marriage for Tax Purposes
What if I told you someone out there is actively looking for a spouse—not for love, but to save nearly half a million dollars in taxes? Yep, this isn’t the plot of a rom-com, but a real post I came across while helping a recently married couple navigate their new tax situation. It inspired me to write about the wild world of taxes and marriage.
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BOI Reporting Update (Again)
The courts have handed the Treasury another loss in the beneficial ownership reporting saga.
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How to Throw a Holiday Party That’s Merry, Bright, and Tax-Deductible
Want to know how to throw a holiday party and make it a tax write-off at the same time?
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BOI Reporting Update
Understand the latest on Beneficial Ownership Information Reporting
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Understanding the Growing Number of People with Disabilities: Insights and Implications
Disability numbers are skyrocketing since 2020. What's the cause? What does this mean for the disability portion of the Social Security program, OASDI?
Read more → - Tax Sherpa Stories
Partnerships, Crypto, and More | Tax Sherpa Live - 2024-08-13
Neal introduces TaxSherpa's new community, discusses IRS issues, tax planning, partnerships, and crypto, and offers resources for small business owners during a Q&A session.
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Analyzing Trump's Social Security Tax Plan: My Take on the Financial Times' $1.5 Trillion Claim
Debunking claims about Trump's Social Security tax plan, we explore the numbers and implications for sustainable solutions. Read more on our latest blog post!
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Understanding Trump’s Tax Proposals and Their Impact on Small Businesses | Tax Sherpa Live - 2024-07-23
In this Tax Sherpa Live we go over Trump's 2024 tax proposals along with Q&A's about tariffs, investment taxes, and more.
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Tax Planning Secrets Revealed | Tax Sherpa Live - 2024-07-16
Join Neal McSpadden of Tax Sherpa for essential tax-saving strategies in the latest episode of Tax Sherpa Live. From effective tax planning to leveraging R&D credits, learn how to save thousands on your taxes.
Read more → - tax concepts
Social Security: What You Need to Know
Discover what upper-class Social Security checks could look like in 2025 and how high earners can strategically plan for these changes. Learn key tax strategies and the importance of Medicare gap coverage.
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Unlock Tax Savings: Essential Strategies | Tax Sherpa Live 2024-07-09
This comprehensive episode gives valuable insights and strategies that can help manage your business finances more effectively and reduce your tax burden. Don't miss out on Neal's expert advice and real-life examples that demonstrate the power of proactive tax planning.
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LLCs and S Corporations - End the Confusion
Confused about LLCs and S Corporations? Our latest blog post breaks down the benefits, steps, and tax implications of electing S Corporation status for your LLC. Discover how to optimize your tax strategy today! #TaxTips #SmallBusiness
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Hiring Your Kids | Tax Sherpa Routes
Learn how hiring your children can save you on taxes while teaching them valuable financial skills. This strategy can reduce your tax burden, boost retirement savings, and provide essential financial education. Discover the benefits now!
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The Hidden Tax: Navigating Inflation and Federal Deficit Impact on Your Finances
Explore strategies to combat inflation and the federal deficit's impact on your finances with Tax Sherpa's expert guidance.
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Navigating Complex Tax Waters: Insights from Office Hours Q&A 2024-01-16
Discover expert advice on rental property taxes, navigating the Corporate Transparency Act, the tax implications of life insurance, and more. Ideal for small business owners and solopreneurs, this post is a treasure trove of practical tax wisdom.
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The Tax Relief for American Families and Workers Act of 2024 - What We Know So Far
Explore the Tax Relief for American Families and Workers Act of 2024 in our latest blog. Understand its impact on small businesses and families, covering tax credits, deductions, and key legislative changes.
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Navigating the Corporate Transparency Act: A Comprehensive Guide by Tax Sherpa
The Tax Sherpa Guide to the Beneficial Owners Information Report required by the Corporate Transparency Act. This new reporting requirement went into effect Jan 1, 2024.
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Office Hours Q&A 2023-12-19
Explore key tax insights in our Tax Sherpa Office Hours video from December 19th, 2023. Neal and Serena address critical topics like cryptocurrency taxation and small business strategies. This concise session is essential for anyone seeking to understand and optimize their tax approach.
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Mastering Expense Management: Navigating Accountable Plans for Small Business Success
Dive into our comprehensive guide on Accountable Plans, tailored for solopreneurs and small business owners. Learn how to optimize your tax strategy, ensure IRS compliance, and effectively manage business expenses with this roadmap. Accountable Plans are a crucial element for financial success and transparency in the world of small business.
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Senator's Bold Tax Play: A Wake-Up Call for Entrepreneurs?
Senator J.D. Vance has introduced a special tax of 35% on large endowments. What does this mean for solopreneurs, freelancers, and small business owners?
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Understanding Self Employment Tax: A Comprehensive Guide for Freelancers and Independent Contractors
Solopreneurs and independent contractors, take charge of your taxes! Our guide, 'Understanding Self Employment Tax,' simplifies the essentials of SE tax, including deductions, credits, and smart strategies for small business owners. Avoid surprises and optimize your tax situation.
Read more → - Tax Sherpa Stories
Mastering Tax Complexities: Key Insights from Our Expert Webinar
Unlock tax-saving strategies with Neal McSpadden in our latest Tax Sherpa blog. Dive into practical tips for small businesses, from cost segregation to foreign income management. Transform your tax approach with Neal's unique insights. Read now for essential tax wisdom!
Read more → - Tax Sherpa Stories
Navigating Partnership Issues: What They Are and What to Do About Them
Join us as we review Partnership Issues in our latest Tax Sherpa Stories Live Event. We go over conflicts, flow through issues, minority interest problems, and the 5 D's: disinterest, death, divorce, drugs, and disagreement.
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Navigating the Tricky Waters of Investment and Tax Planning: Real Stories, Real Lessons
Dive into real-life stories of investment & tax planning. Learn from Bob's risky bet, Alice's tax woes, & key strategies for smart, safe investing.
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The Truth About the New Clean Vehicle Tax Credit
Is the sales pitch that new cars will get you $7,500 in tax credits? Surprise, it's more complicated than that. Read on to find out how...
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Navigating the Clean Vehicle Credit for 2023 and Beyond
Your resource for the new Clean Vehicle Credits worth up to $7,500 in tax credits.
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Debunking the Myth: It's Never Too Late Late to File Your Taxes
Missed a tax deadline? It's not the end! Dive into our latest post to debunk common tax myths and discover steps to set things right. Your path to tax clarity starts here! 📊
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The Power of Educational Assistance Programs in Light of Student Loan Payment Resumption
Learn about Section 127 Plans to help pay for employees' student loans as a great benefit program that is tax efficient.
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Reimbursements or Revenue? The 1099-K Challenge for Small Businesses | Tax Sherpa Stories
Dive into the new 1099-K reporting rules and see how they might affect your tax reporting as a solopreneur or small biz. In this episode of Tax Sherpa Stories as we unravel the complexities of the changes and guide you through potential pitfalls.
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The IRS is on a Hiring Spree: How Solopreneurs and Small Businesses Can Stay Ahead
Amidst the IRS's massive hiring boost and a keen focus on Sch C filers, solopreneurs and small businesses face increased audit risks. Dive into Tax Sherpa Stories to understand the shifts and learn strategic moves. Knowledge is your best defense.
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Can K-1 Losses Be Beneficial? | Tax Sherpa Stories
Dive into the intricacies of K-1 tax forms! Discover how K-1 losses can offset other income, understand the importance of basis, and learn about passive vs. active rules. Master the nuances of tax savings with Tax Sherpa Stories.
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So You Got a K-1, What's Next?
Just received a K-1 form and feeling lost? Dive into my video guide where I break down next steps and simplify the process. Navigate the tax maze with confidence!
Read more → - technology
Dividend Research with ChatGPT
Discover how I harnessed ChatGPT for in-depth research on dividend-paying firms. As AI reshapes the knowledge job landscape, stay ahead of the curve. The future of many professions might surprise you!
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Taxes and Dividends - A Case Study
Decoding Dividend Taxation: Dive into the distinctions between regular & qualified dividends and the unique taxation of REIT 'return of capital' payouts. Equip yourself for smarter investing and optimal tax strategies. 📈💰🧾
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