Section 179 deduction limit 2026 is now $2,560,000 (with the phase-out threshold at $4,090,000). Did your CPA notice? The One Big Beautiful Bill became law in July. That was seven months ago. So let me ask you something: has your CPA changed anything about your tax plan since then? Because one of the biggest changes […]
USPS postmark rules for IRS filings used to feel simple: if it’s postmarked by the deadline, the IRS treats it as filed on time. It used to be that you could drop off your tax return at the post office on April 15 and you were safe. That’s no longer true thanks to newer U.S. […]
How to choose a tax advisor for your business often comes down to one thing: does the strategy actually fit? If you’ve been wondering how to spot cookie-cutter tax advice, here’s a quick “fit test” I’ve seen play out for 20+ years with business owners. Recently someone on my team ordered a custom tux made […]
By Laura Dohanes, CPA | Founder, My CPA ProFeatured expertise: 20+ years defending 3,000+ IRS audits | Specialized tax strategy for $5M-$20M founders Builder-Investor Paradox is what happens when your operational security needs collide with maximizing after-tax investment returns. You can reduce audit risk and increase net ROI by implementing proactive tax modeling through proper […]
Quick Answer Why do most tax strategies never get implemented? Based on my 20+ years implementing tax strategies for business owners, implementation fails because it requires coordination between multiple professionals (attorneys, CPAs, bookkeepers), state-specific compliance expertise, proper documentation, and ongoing maintenance. Most tax advisors specialize in strategy consultation but lack the systems, team, or liability […]
This is a strategy to offset the 28% gold collectibles tax using cost segregation and bonus depreciation. You bought gold years ago as financial insurance. Smart move. Now it's worth $4,888 per ounce—an all-time high. Your $500,000 investment is worth $1 million. Here's the problem: sell it, and the IRS wants $140,000 (28% collectibles tax). […]
Can AI do your taxes? Yes, if you have a simple W-2 and standard deduction. For business owners with multiple entities, multi-state operations, or complex structures, AI tax tools can model scenarios but cannot make strategic decisions based on your personal circumstances, timeline, or risk tolerance. AI tax strategy requires human oversight to interpret results […]
If you own rental property and want to scale, a 1031 exchange for rental property is one of the cleanest ways to defer federal tax on the gain and keep more equity working. Important scope and eligibility note: Under current law, Section 1031 applies only to real property held for investment or for productive use […]
Can AI do my taxes? It is the question of the year. “Laura, with all this new AI, can’t a computer just do my taxes now?” The honest answer? Yes. If you have a single W-2, a standard deduction, and you don't plan on growing. Honestly? The AI will probably do a great job. It […]