Tax Strategies

Tax season is starting as a number of new provisions of the One Big Beautiful Bill Act take effect.

Right now, cannabis businesses operating legally under state law still can't deduct basic costs like rent, salaries or marketing.

Under a proposed ballot initiative in California, billionaires would face a one-time 5% levy to cover funding shortages for health care, food assistance and education.

Rhode Island Governor Dan McKee is warming to the idea of a tax on the wealthy as one way to bolster the state's resources after a particularly turbulent year for its economy.

The tax deduction applies to new cars assembled in the U.S. purchased from 2025 through the end of 2028.

The proposed regulations relate to the new deduction for interest paid on vehicle loans incurred after Dec. 31, 2024, to purchase new made-in-America vehicles for personal use.

The updated framework under the OBBBA has created new opportunities for the sports and entertainment industries in rural areas and low-income urban areas.

According to IRS Notice 2026-10, however, some other mileage rates will go down.

Unlike equity investors, who must plan around the 31-day exclusion window, cryptocurrency holders can sell and repurchase in the same session.

The draft, a mix of bill text and policy aims, would exempt transactions of regulated stablecoins that consistently maintain a value between $0.99 and $1.01 from capital gains.