The “One Big Beautiful Bill” (BBB), also referred to as H.R. 1, is a sweeping budget-reconciliation bill that proposes to extend many provisions of the 2017 Tax Cuts and Jobs […]
Category: Tax & Accounting News
Shared Economy Tax’s take on the latest tax & accounting news, and much more.
Don’t Fall for These Tax Preparer Scams in 2025
As we head into the 2025 tax season, it’s more important than ever to be vigilant when choosing someone to help you file your taxes. The IRS continues to crack […]
Bonus Depreciation Phase Out Update for 2025
As we move deeper into the bonus depreciation phase out schedule, 2025 marks a critical turning point. Businesses can now deduct only 40% of the cost of qualifying assets placed […]
The Last EVs Standing for Tax Credits in 2025
The electric vehicle tax credit landscape is changing as we speak, with manufacturers racing to adapt to changing federal tax credit requirements. As tax experts working with businesses and individuals […]
FinCen BOI Reporting Requirements [Updated for 2025]
It is crucial for small businesses to be aware of the new reporting requirements of the Corporate Transparency Act (CTA). The CTA requires small businesses to report certain information about […]
Mid-Year 2024 Airbnb Housing Market Update
As we move into the second half of 2024, the housing market continues to undergo significant shifts. Recent data highlights challenging conditions for those looking to enter the short-term rental […]
Tax Deadlines 2025 and Other Updates You NEED to Know
Tax laws change every year, and 2025 is no exception. Taxpayers will encounter several notable changes this year, as well as adjustments to tax brackets and other deductions. Stay tuned […]
Secure Act 2.0 Brings Big Changes for IRAs in 2024
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted in 2019. It changed many rules around retirement savings. In 2022, a second version, the Secure Act 2.0, […]
How Does New IRS Funding Affect the Sharing Economy?
Although people have been sharing since the beginning of time, the sharing economy is still in its infancy. With ever-changing regulations and tax laws, it can take a lot of […]
Inflation Reduction Act IRS Funding: Explained
The Inflation Reduction Act (IRA) was passed in August 2022 to lower inflation, lower prescription drug prices, and promote clean energy. Some provisions were immediately enacted, while others will be […]