The Tax Professionals Blog

Highlights of Internal Revenue Bulletin 2024-44 – 10/28/2024

Posted by Lee Reams Sr., BSME, EA on

Learn about IRS Bulletin 2024-44 updates, including HDHP preventive care expansions, new tax classification rules for Tribal entities, and final rules on repatriated intangible property.

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Equitable Ownership

Posted by Lee Reams Sr., BSME, EA on

Can you deduct mortgage interest without being legally liable for the loan? Learn how equitable ownership might allow you to claim deductions, even without legal title. Discover key Tax Court examples.

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Highlights of Internal Revenue Bulletin 2024-43 – 10/21/2024

Posted by Lee Reams Sr., BSME, EA on

Explore IRS Bulletin 2024-43’s highlights: updates on long-term part-time employee rules for 403(b) plans, drought-related tax relief, and extensions for conservation easements and HUD–VASH eligibility.

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How To Treat a Roof Replacement

Posted by Lee Reams Sr., BSME, EA on

Is roof replacement a deductible expense or a capitalized cost? This article discusses the IRS Cap and Repair Regulations and how safe harbor provisions affect small taxpayers with roof repairs.

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Highlights of Internal Revenue Bulletin 2024-42 – 10/15/2024

Posted by Lee Reams Sr., BSME, EA on

In this article, learn more about IRS proposed rules for corporate minimum tax (CAMT) and other key updates from Internal Revenue Bulletin 2024-42.

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