#tax-planning
Strategic tax planning to minimize liability and maximize savings
A practical walkthrough of Schedule F for farmers and ranchers, covering crop insurance deferral under Section 451, weather-related livestock relief (Section 451(g) and 1033(e)), Section 175 soil and water conservation deductions capped at 25% of farm gross income, Section 179 and bonus depreciation, and Schedule J income averaging using elected farm income across three base years.
Schedules K-2 and K-3 pulled even purely domestic partnerships and S-corps into international tax reporting starting in 2021. This guide explains the 2026 filing rules, the four-condition domestic filing exception, the January 15 partner notification and February 15 1-month K-3 request deadlines for calendar-year filers, the $250,000 small entity carve-out added in 2024, and the per-partner, per-month penalty math for non-compliance.
A practical guide to Section 1015 carryover basis versus Section 1014 stepped-up basis, the dual basis trap for depreciated assets, and the 2026 decision framework for whether to gift appreciated property now or hold until death under the permanent $15 million exemption.
Section 1256 splits gains on futures, broad-based index options, and qualifying forex 60% long-term and 40% short-term, capping the top federal rate near 26.8% versus 37% on equity options. A 2026 guide to Form 6781, the mark-to-market rule, and the three-year loss carryback.
Section 165(i) lets disaster-affected taxpayers deduct a current-year casualty loss on the prior year's return, turning an 8-to-16-week refund into rebuild cash. A practical guide to Form 4684, the six-month election deadline, the 2026 OBBBA changes, and the recordkeeping that holds up under IRS audit.
How Section 165(i) lets taxpayers in federally declared disaster areas deduct casualty losses on the prior year's return via Form 4684 and Form 1040-X — election mechanics, the six-month deadline, safe-harbor valuations, and when the prior-year election actually beats waiting.
The Section 199A aggregation election under Reg 1.199A-4 lets pass-through owners combine commonly controlled trades or businesses before applying the W-2 wage and UBIA of qualified property limitation. This guide walks through the five eligibility tests, the Form 8995-A Schedule B disclosure, the irrevocable consistency rule, and when pooling QBI across an operating-and-leasing or multi-entity structure actually unlocks more deduction.
The OBBBA's new Section 274(o) eliminates the deduction for employer-provided office meals starting January 1, 2026, while Section 274(n)'s 50% rule still covers client and travel meals. Here is the full 50%/100%/0% map, the documentation auditors expect, and the four-account bookkeeping setup that keeps year-end clean.
The federal $7,500 clean vehicle credit ended September 30, 2025 under the OBBBA—seven years early. Section 30D's binding contract exception, dealer transfer recapture risk, Form 8936 filing for 2025 acquirers, state replacement programs, and what 2026 EV buyers should expect.
The Section 30D EV tax credit ended September 30, 2025, seven years early under OBBBA. Buyers with a written binding contract and nominal payment before that date can still claim up to $7,500 on a 2026 delivery. This guide covers the acquisition rule, Form 8936 filing, point-of-sale transfer recapture risk, and what survives for used (25E), commercial (45W), and charging-infrastructure (30C) credits.
A breakdown of Section 355 of the Internal Revenue Code — the four statutory tests, three judicial doctrines, and the anti-Morris Trust two-year trap — illustrated with the GE, 3M Solventum, and Kellanova spinoffs.
Section 382 caps a startup's pre-ownership-change net operating loss deductions at the pre-change fair market value multiplied by the long-term tax-exempt rate (about 3.56 percent in February 2026), triggered when 5 percent shareholders collectively gain more than 50 percentage points over a rolling three-year testing period.
