Employee Tax Expert
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I am a practicing CPA with 30 years of public accounting experience
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Let me answer this in the same order:1) The OBBB eliminates the EV credit sooner than expected on September 30th, 2025 with the tax credit for installing an E...
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Section 121 of the IRS code allows exclusion of capital gains related to the sale of a personal residence for up to $250K for single and $500k for married joint...
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Yes! The gift tax exclusion is $19K for single filers or $38K for married filing joint returns. This will apply to the 2025 tax year and 2026 will be indexed fo...
Activity Feed for kclaywallace
- Got Cheered for Re: Questions re EV Credits under IRC 45W (Commercial Clean Vehicle Credit), IRC 169 (Expenses), IRC 179 (Bonus Depreciation) and IRC 280F (Luxury Auto Depreciation Cap). 2 weeks ago
- Posted Re: Questions re EV Credits under IRC 45W (Commercial Clean Vehicle Credit), IRC 169 (Expenses), IRC 179 (Bonus Depreciation) and IRC 280F (Luxury Auto Depreciation Cap) on [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill. 2 weeks ago
- Tagged Re: Questions re EV Credits under IRC 45W (Commercial Clean Vehicle Credit), IRC 169 (Expenses), IRC 179 (Bonus Depreciation) and IRC 280F (Luxury Auto Depreciation Cap) on [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill. 2 weeks ago
- Posted Re: Can I claim the EV tax credit and section 179 (or bonus depreciation) on the same vehicle in the same year? on Deductions & credits. 2 weeks ago
- Posted Re: How to handle Sale of home rented 25 years and converted to personal residence since 2012 on [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill. 3 weeks ago
- Posted Re: Gift Tax Exclusion on [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill. 3 weeks ago