Tax Planning insights

Source-cited explainers on Tax Planning, in plain English or Spanish, for the individuals and businesses we serve across Miami and beyond.

Tax Planning
Prediction Market Taxes: How Kalshi and Polymarket Event Contracts Are Taxed in 2026
No IRS ruling, regulation, or notice addresses event contracts by name, so Kalshi and Polymarket traders pick a characterization without guidance. Here is what the Code says, where the real arguments are, and why the 90 percent wagering loss limit makes 2026 the year it matters.
July 16, 202620 min read
Tax Planning
Real Estate Investor Tax Guide: How Passive Rules, Material Participation, and the Home Sale Exclusion Fit Together
Rental real estate is passive by default, so losses can only offset passive income. Real estate professional status, active participation, short-term rental treatment, and Section 121 each change that answer. Here is how the framework fits together.
July 13, 20269 min read
Tax Planning
One Big Beautiful Bill Tax Guide: The 2026 Provisions That Actually Change Business and Family Filings
The One Big Beautiful Bill Act restored 100 percent first-year depreciation for property placed in service after Jan. 19, 2025, revived immediate expensing of domestic research costs, and reset the Section 179 caps for 2025 and 2026.
July 8, 20267 min read
Tax Planning
ISO vs. NSO vs. RSU: How Employee Equity Awards Are Taxed
Incentive stock options, non-qualified stock options, and restricted stock units each create income at different times and at different rates. Here is what the IRS rules say about each award type.
June 29, 20264 min read
Tax Planning
Real Estate Professional Status: The 750-Hour Test and Grouping Election Explained
Rental real estate is passive by default, so losses can only offset passive income. To qualify as a real estate professional, you must log more than 750 hours in real property trades and those hours must represent more than half of your personal services for the year.
June 19, 20264 min read
Tax Planning
Net Investment Income Tax: How the 3.8 percent Surtax Applies to Dividends, Rent, and Capital Gains
The 3.8 percent Net Investment Income Tax applies when MAGI exceeds $200,000 for single filers or $250,000 for married filing jointly. Dividends, capital gains, rental income, and royalties can all count. Here is who owes it and how to report it on Form 8960.
June 5, 20264 min read
Tax Planning
Form 709 and the $19,000 Gift Tax Annual Exclusion: A 2026 Guide
Form 709 explained: the 2026 IRS annual gift tax exclusion is $19,000 per recipient and the One Big Beautiful Bill set a $15,000,000 lifetime exemption.
June 2, 20264 min read
Tax Planning
Section 83(b) Election: File Within 30 Days to Lock In Your Restricted Stock Tax Basis
Founders and early employees who receive restricted stock subject to vesting can elect under Section 83(b) to pay tax on the grant-date value instead of the vested value. You have exactly 30 days from the transfer date to file with the IRS.
May 27, 20264 min read
Tax Planning
Short-Term Rental Material Participation: The 7-Day Rule for Nonpassive Losses
When a rental property's average guest stay is 7 days or less, the IRS treats it as a trade or business, not a passive rental activity. Meet any material participation test and the losses flow directly against wages and other ordinary income.
May 23, 20264 min read
Tax Planning
SALT Cap Raised to $40,000: OBBBA 2025 Changes and the PTET Workaround
The One, Big, Beautiful Bill Act raises the SALT deduction cap to $40,000 for 2025, with a phase-out above $500,000 of income. The pass-through entity tax election remains a complementary strategy under Notice 2020-75.
May 21, 20264 min read
Tax Planning
No Tax on Tips and No Tax on Overtime: 2025 Deductions Explained
The One, Big, Beautiful Bill Act adds two above-the-line deductions for 2025: up to $25,000 of qualified tips and up to $12,500 of qualified overtime pay. Here is who qualifies and how the phase-outs work.
May 21, 20264 min read
Tax Planning
QSBS Section 1202: How the Small Business Stock Gain Exclusion Works
Section 1202 lets eligible C-corp shareholders exclude part or all of the gain on qualified small business stock held for more than 5 years. The One Big Beautiful Bill raised the gross asset cap to $75 million.
May 21, 20264 min read
Tax Planning
Section 174A and R&D Expensing in 2026: What the One Big Beautiful Bill Reversed
Public Law 119-21 brought back immediate expensing of domestic research costs. Section 174A applies to taxable years beginning after December 31, 2024, with a 60-month amortization election available.
May 21, 20263 min read
Tax Planning
100% Bonus Depreciation and Section 179 in 2026: What the One Big Beautiful Bill Restored
Public Law 119-21 brought back the 100% first-year depreciation allowance for qualifying property placed in service after January 19, 2025. Section 179 also reset, with the 2026 expense ceiling at $2,560,000.
May 21, 20264 min read

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