Avoiding the 6% IRA Excess Tax: Timely Withdrawals and Reporting
Correct excess IRA or HSA contributions before the tax return due date (including extensions) by removing the excess…
Key Exceptions for Distributions from Qualified Plans and IRAs
Early retirement distributions before 59½ may incur a 10% tax, but statutory exceptions—such as medical expenses over 7.5%…
Understanding the 2025 AMT: Exemptions, Phaseouts, and Rates
The 2025 AMT applies to taxpayers with large SALT, ISO adjustments, or depreciation differences; exemptions are inflation-indexed ($137,000…
Trump Administration Halts IRS Crackdown on Major Tax Shelters
Mid‑2025 directives shifted the IRS from aggressive shelter enforcement to customer service and voluntary compliance. A July 2025…
QBI Deduction 2025: When to Use Form 8995 vs 8995-A
For 2025, the Section 199A QBI deduction remains available through Dec 31, 2025. Compute AGI first, then use…
QBI Deduction and W-2 UBIA Limits: Thresholds and Phase-In Basics
The 2025 QBI deduction depends on taxable income, W-2 wages, and UBIA. Singles phase in $197,300–$247,300; joint filers…
Understanding QBI Phase-In: 20% Deduction, Excess, and Thresholds
The 20% QBI deduction is permanent as of September 7, 2025. A widened phase-in range for the W-2…
SSTB QBI Deduction 2025: Thresholds, Phase-In, and Limits
For 2025, SSTB owners face QBI limits based on taxable income: full deduction below thresholds, proportional reduction within…
QBI Deduction: W-2 Wages, UBIA, and Per-Business Limits
QBI offers up to a 20% deduction for pass-through income but is capped by the greater of 50%…
QBI 199A Aggregation: Ownership, Year Matching, and Integration Rules
To aggregate for the Section 199A QBI deduction, confirm ≥50% common ownership, aligned tax years, no SSTB, and…
Understanding QBI Deduction: SSTB, W-2/UBIA, and Taxable Income Limits
Section 199A offers a potential 20% QBI deduction through 2025 but is limited by SSTB rules, W‑2/UBIA tests,…
UBIA Defined: Unadjusted Basis After Acquisition for Qualified Property
UBIA is the original cost at placed-in-service and is not reduced by depreciation. Qualified property must be used…
W-2 Wages: Elective Deferrals, QBI UBIA, and Statutory Employees
IRS 2025 W-2 updates clarify W-2 wage composition, include elective deferrals in Box 1/12, and exclude properly marked…
199A: Negative REIT/PTP Amount Yields Zero Deduction, Carryforward
OBBBA permanently preserves the 20% Section 199A deduction for qualified REIT dividends and qualified PTP income. Negative combined…