6 skills across 1 job. Each skill is authored by an accountant; the ones more colleagues stand behind rise to the top.
US federal charitable giving for individuals for tax year 2026 after the One Big Beautiful Bill Act: the floor for itemizers, the deduction for non-itemizers, bunching gifts against the standard deduction, donor-advised funds, gifts of appreciated stock, qualified charitable distributions from IRAs, carryovers and substantiation.
Qualified Opportunity Zone investing under sections 1400Z-1 and 1400Z-2 as amended by Public Law 119-21: the 180-day window, the 2026 inclusion of gain deferred under the original rules, which basis step-ups still count, the 10-year election, Form 8997, and the new rules for investments from 2027 (five-year rolling deferral, rural funds, the 30-year cap, fund reporting penalties). Use for an investor with a large capital gain and their adviser.
Renting your home to your own S corporation, C corporation or partnership for meetings under the Augusta rule (section 280A(g)): the under-15-day income exclusion, who gets a deduction and who does not (sole proprietors and disregarded single-member LLCs), fair rent, the day count, the home office conflict, Form 1099-MISC and the records to keep.
How a US business owner can pay their own child a reasonable wage (payroll tax exemption only for a parent's sole proprietorship or parents-only partnership, never a corporation or S corporation; the child's dependent standard deduction; kiddie tax does not reach wages) and reimburse owners and employees tax-free through an accountable plan (three requirements, 60 and 120 day safe harbors, two 2026 mileage rates, per diem limits for owners), federal, tax year 2026.
US federal passive activity loss rules for rental property owners: why rental losses are passive, the active participation allowance and its phase-out, real estate professional status (the more-than-half and 750-hour tests, spouses, the election to aggregate rentals), the seven material participation tests, the short-term rental (average stay seven days or less) rule, Form 8582, records and when to refer.
Section 179 expensing and bonus depreciation (section 168(k)) for US business owners in 2026: the section 179 limit, phase-out and business income limit, bonus depreciation after the One Big Beautiful Bill Act and the binding-contract acquisition rule, heavy SUVs over 6,000 pounds versus passenger car depreciation caps, listed property business use and recapture, standard mileage versus actual expenses, section 1245 recapture and Form 4562.