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Florida Businessman Indicted for Tax Evasion

IRS Claims He Hid Millions to Avoid Paying Nearly $2M in Taxes Florida Businessman Faces Tax Evasion Charges A Jacksonville businessman is facing serious legal trouble after a federal grand jury indicted him for tax evasion, failure to file tax

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IRS Clarifies Cannabis Tax Rules

June 2024 Declaration Keeps Marijuana Businesses Under Strict Tax Rules: No Business Deductions for 2025 Tax Season On June 28, 2024, the IRS reaffirmed that marijuana remains a Schedule I controlled substance, reminding cannabis businesses that they cannot claim standard

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IRS Denies Tax Deduction for IVF Expenses of Surrogate

What Couples Need to Know About Medical Deductions for Surrogacy In a recent private letter ruling (PLR 202505002, 1/31/25), the IRS clarified that in vitro fertilization (IVF) expenses related to a surrogate are not deductible as medical expenses under the

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Trump Pledges to End Taxes on Tips During Las Vegas Visit

A Bold Proposal for Service Industry Workers President Donald Trump, fresh off his second-term inauguration, visited Las Vegas to unveil a significant new tax initiative. Speaking at Circa Las Vegas surrounded by enthusiastic supporters, Trump promised to eliminate federal taxes

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Tax Court Tunes Out Deduction for Gift to Orchestra

Why Recognition as a Donor Doesn’t Guarantee a Deduction If you’re a frequent donor to charitable organizations, you may enjoy special recognition, such as exclusive membership levels. However, being acknowledged as a donor doesn’t automatically qualify you for a charitable

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IRS Provides Tax Relief for California Wildfire Victims

Extended Deadlines and Key Benefits for Affected Taxpayers The IRS has announced significant tax relief for individuals and businesses impacted by the California wildfires and straight-line winds that began on January 7, 2025. Affected taxpayers now have until October 15,

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