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Tax Planning

Bonus depreciation for sound recordings under IRS Notice 2026-11

Bonus Depreciation Now Covers Sound Recordings: What IRS Notice 2026-11 Means for Artists, Producers, and Labels

IRS Notice 2026-11 expands bonus depreciation to qualified sound recordings. Learn what the new guidance means for artists, producers, record labels, and others investing in music production.

Aug 205 min read

S Corp equity compensation tax insight on avoiding an accidental second class of stock

S Corp Equity Compensation: How to Avoid an Accidental Second Class of Stock

Equity compensation can help S corporations attract and retain key talent, but the wrong structure can jeopardize S status. Learn how stock options, restricted stock, phantom equity, and other arrangements can be structured while avoiding an accidental second class of stock.

Aug 186 min read

California trust tax planning for out-of-state trusts under FTB Ruling 2026-01

California Trust Tax Planning: What FTB Ruling 2026-01 Means for Out-of-State Trusts

New California FTB guidance may affect out-of-state trusts with California beneficiaries. Learn what FTB Ruling 2026-01 means and when a trust review may be appropriate.

Aug 174 min read

New York City skyline illustrating the NYC pied-à-terre tax update for high-value residential property owners.

NYC Pied-à-Terre Tax Final Rules: What Property Owners Need to Know for 2026

The New York City Department of Finance has issued final rules for the new NYC pied-à-terre tax. Learn who may be affected, how primary residence status is determined, important appeal deadlines, and what property owners should do to prepare.

Jul 304 min read

IRS Automatic Penalty Relief announcement graphic featuring the Internal Revenue Service building and Schulman Lobel Tax, Audit & Advisory.

Could You Qualify for the IRS's New Automatic Penalty Relief? Here's What Taxpayers Need to Know

The IRS has introduced Automatic Penalty Relief (AEP), a new initiative that automatically removes certain tax penalties for eligible taxpayers with a strong compliance history. Learn who qualifies, when the new rules take effect, and what they mean for you.

Jul 212 min read

Section 179 vehicle tax deduction strategy showing a qualifying business SUV and key tax-saving opportunities available to business owners in 2025.

Section 179 Vehicle Tax Deduction: How Business Owners Can Maximize Tax Savings in 2026

A qualifying business vehicle could unlock substantial first-year tax savings. Learn how the Section 179 vehicle tax deduction and bonus depreciation rules can help business owners maximize deductions and improve cash flow.

Jun 114 min read

Relocating to a low-tax state and establishing tax residency while avoiding costly state residency audits for high-net-worth individuals and business owners.

Relocating to a Low-Tax State: How to Establish Tax Residency and Avoid Costly Audits

Relocating to a low-tax state can create substantial tax savings, but only when residency rules are properly followed. Learn how domicile, statutory residency tests, and state audits can impact high-net-worth individuals, business owners, and family offices.

Jun 114 min read

Residential homes in New Jersey with rooftop solar panels, highlighting solar tax credits and clean energy incentive opportunities.

Solar Tax Credits Remain Available Under OBBBA: Key Deadlines and Opportunities for Solar tax credits for New Jersey taxpayers

The One Big Beautiful Bill Act preserves valuable solar tax credits while establishing new deadlines for qualifying projects. Learn how New Jersey taxpayers and businesses can take advantage of available federal and state incentives before key opportunities expire.

Jun 34 min read

Trump Account illustration showing a $1,000 government contribution program for eligible children under the One Big Beautiful Bill Act.

Is Your Child Eligible for a $1,000 Trump Account? Here's How It Works.

The One Big Beautiful Bill Act created Trump Accounts, including a potential $1,000 government contribution for eligible children born between 2025 and 2028. Learn who qualifies, contribution limits, investment rules, and key considerations for families.

May 283 min read