An offer in compromise can give someone with an unmanageable tax debt a path forward. But the latest IRS figures show a difficult trend: taxpayers submitted more offers in fiscal year 2025 than in 2023, while the IRS accepted far fewer in the last decade. That reflects some of what we are seeing in our
Disasters can destroy more than property. They can also destroy the records needed to support an insurance claim or a tax deduction. A recent Tax Court case is a reminder that even when the damage is undeniable, the amount claimed must be documented. The number of costly U.S. weather and climate disasters has risen sharply.
Social-media influencing can be a legitimate business. Income may come from brand partnerships, affiliate links, platform payments, merchandise sales, appearances, subscriptions, consulting, or advertising revenue. But having followers—or simply posting photos and videos—does not automatically turn personal spending into deductible business spending. The tax authorities might consider it as a hobby and disallow those related
If your business has outgrown the “scrappy startup” phase and is now firmly in the 7‑ and 8‑figure revenue range, your tax bill is probably growing faster than your confidence that it’s truly optimized. Many successful owners overpay the IRS not because they’re careless, but because their tax planning never evolved as the business did.
