Home Sale Tax Planning for Married Couples: Key Rules and 2026 Exclusion Limits
If you are married and plan to sell your home, you may be able to exclude up to $500,000 of gain from tax. The length of your marriage does not matter. To claim the full $500,000, you need the following: If your spouse lived in the home before the wedding, that time counts. You can […]
Self-Employed Health Insurance Premiums: Clarifying Deductibility
If you are self-employed and buy your own health insurance, you may have noticed fine print on the application stating that the policy is not employer-sponsored and that you will not deduct the premiums on your tax return. That language can be alarming, but it does not take away your tax deduction. The statement exists […]
Home Office Deduction Update for 2026: Guidance for Self-Employed Taxpayers
If you are self-employed and also have access to an office elsewhere, you may assume you cannot deduct a home office. Many people believe this, and IRS auditors sometimes raise it. But the law says otherwise, and the IRS’s own guidance backs you up. Your home office qualifies as your principal place of business when […]
When the Time Is Right: Protecting Your Future After the Loss of a Spouse
Losing a spouse is difficult, and taxes are likely the last thing on your mind. But the tax consequences arrive on a delayed schedule that creates a valuable planning window—one that closes quickly if no one is watching. Here is the timeline: For the year when your spouse dies, you may still file a joint […]
Understanding the Self-Employed Health Insurance Deduction
The self-employed health insurance deduction is one of the most valuable adjustments available to you. It reduces adjusted gross income dollar for dollar; you get it whether or not you itemize, and the lower adjusted gross income can preserve other benefits that phase out as income rises. It is also one of the easiest deductions […]
A Fresh Look at the Paid Family and Medical Leave Tax Credit
The paid family and medical leave tax credit is now a permanent part of the tax code, and the 2026 rules changed enough that it deserves a fresh look even if you considered it before and passed. Here is what the credit does: If you have a written leave policy in place, you earn a […]
How an S Corporation Can Unlock the Section 199A Deduction
If you operate as a sole proprietor or single-member LLC, earn a good income, and have no payroll and little depreciable property, you may be losing most of the Section 199A 20 percent deduction. Switching to an S corporation can fix that. Here is the problem: Once your 2026 taxable income exceeds $276,750 (single) or […]
S Corporation Health Insurance Deduction
If you own more than 2 percent of an S corporation, your dental, vision, and Medicare premiums can qualify for the same valuable tax treatment as your major medical insurance premiums. To secure the deductions, follow the same three-step process for all qualifying premiums. First, your S corporation must either pay the premiums directly or […]
ERC Refunds and the Tax Benefit Rule
If you received an Employee Retention Credit (ERC) refund in 2026 for wages paid in 2020 or 2021, you may have an opportunity to recover the tax you pay on that refund. The IRS currently says that if you failed to reduce your wage deductions in the original years, you should report the receipt of […]
Home Office Deduction Rules for Business Owners
Many business owners assume they cannot claim a home-office deduction because their home is too small. In fact, the tax law says otherwise. A home office does not have to be an entire room. If you use a clearly defined area of your home exclusively for business, you may qualify for the deduction—even if that […]