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Tax

Tax strategies, planning, and compliance for individuals and businesses

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May 14, 202611 min read

Section 30D Clean Vehicle Credit Sunset: What 2026 EV Buyers Lost and Who Can Still Claim the $7,500

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.

Mike Thrift

taxtax-creditstax-planning

May 14, 202614 min read

Section 355 Tax-Free Corporate Spinoffs: How to Split Up a Business Without Triggering a Single Dollar of Federal Tax

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.

Mike Thrift

taxtax-planningmergers-and-acquisitions

May 14, 202616 min read

Section 382 NOL Limitation After Ownership Change: How Venture-Backed Startups Preserve Net Operating Loss Carryforwards Through Equity Rounds

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.

Mike Thrift

taxtax-planningstartup

May 14, 202613 min read

Section 465 At-Risk Rules: Why Tax Basis Won't Save Your Partnership Losses

Section 465 at-risk rules cap partnership and S-corp losses at your actual economic stake.

Mike Thrift

taxpartnershipss-corp

May 14, 202613 min read

Section 4960: The 21% Excise Tax on Nonprofit Executive Pay After OBBBA's 2026 Expansion

Section 4960 imposes a 21% excise tax when a tax-exempt organization pays a covered employee more than $1 million. The 2025 OBBBA expansion redefines "covered employee" as anyone employed since 2017, widening the tax base for hospitals, universities, and foundations filing Form 4720 in 2026.

Mike Thrift

taxtax-compliancenonprofit

May 14, 202614 min read

Section 83(i) Tax Deferral on Private Company Stock: A Five-Year Lifeline for Pre-IPO Employees with RSUs and NSOs

Section 83(i) lets qualified employees of qualified private companies defer federal income tax on RSU settlements and NSO exercises for up to five years. The 80 percent grant rule, mandatory escrow, and 30-day election deadline explain why adoption stays in the single digits — and when the election still pays off.

Mike Thrift

taxtax-planningequity

May 13, 202612 min read

Corporate Alternative Minimum Tax (CAMT): How the 15% Book-Income Levy on $1B+ Companies Actually Works

The Corporate Alternative Minimum Tax imposes a 15% levy on Adjusted Financial Statement Income for corporations averaging over $1 billion in AFSI. A practical guide to who qualifies, how AFSI is computed under section 56A, the FPMG $100M U.S. test, Form 4626 mechanics, and the interim simplified safe harbor.

Mike Thrift

taxtax-compliancetax-planning

May 13, 202615 min read

FDII to FDDEI: How C Corporations Cut Federal Tax to 14% on Form 8993 in 2026

Under OBBBA, Section 250 renames FDII to FDDEI, sets the deduction at 33.34%, eliminates the QBAI offset, and removes interest and R&E allocation — producing an effective 14% federal rate on qualifying foreign-derived income for U.S. C corporations filing Form 8993 in 2026.

Mike Thrift

taxtax-planningc-corp

May 13, 202614 min read

FDII and Form 8993: How U.S. C Corporations Hit a 13.125% Effective Tax Rate on Foreign Sales

A working guide to the FDII (now FDDEI) deduction on Form 8993 — which U.S. C corporations qualify, how the Section 250 math drops the effective federal rate to 13.125% on foreign-derived income, the taxable income limitation, documentation the IRS expects, and how OBBBA simplifies the calculation starting in 2026 by removing the QBAI step and expense allocations.

Mike Thrift

taxtax-deductionstax-planning

May 13, 202611 min read

Form 1041 Explained: Compressed Brackets, DNI, and the K-1 Conduit That Decide Trust Tax Bills

A 2026 fiduciary's guide to Form 1041 — why trust brackets hit 37% at $15,200, how distributable net income routes taxable income to beneficiaries through Schedule K-1, and how the 65-day election cuts the tax bill after year-end.

Mike Thrift

taxtrustestate-planning

May 13, 202611 min read

Form 8283 Noncash Charitable Contributions: A Donor's Guide to the $5,000 Qualified Appraisal Threshold and IRS Substantiation Rules

Form 8283 is required when total noncash charitable contributions exceed $500. Above $5,000, donors need a USPAP-compliant qualified appraisal and three signatures on Section B; over $500,000 the full appraisal attaches to the return. Section 170(o) can claw the deduction back if the charity disposes of tangible property within three years, and the 40% gross valuation misstatement penalty has no reasonable-cause defense.

Mike Thrift

charitable-givingtax-deductionstax-compliance

May 13, 202612 min read

Form 8886 Reportable Transactions: The 75 Percent Penalty Hiding in Your Tax Return

Form 8886 discloses reportable transactions to the IRS. Missing it triggers a Section 6707A penalty up to $200,000 per year for entities and keeps the assessment statute open indefinitely on listed transactions under Section 6501(c)(10). This guide breaks down the five categories, the penalty math, filing mechanics, and the foreign currency loss trap that catches accidental filers.

Mike Thrift

taxtax-compliancecompliance

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