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ALERTS AND ARTICLES
Stay up to date with the most recent industry news and what’s happening at Topel Forman
Understanding Basis and Other Limits on Loss Deductions
Understanding when you can deduct losses isn’t as simple as looking at your tax basis. Additional layers including the at-risk rules, passive activity loss limits, and the excess business loss limitation determine how much loss you can claim and when. This article breaks down each rule and explains how they interact so taxpayers can better anticipate the tax impact of their investments and business activities.
S-corporations 101: FAQs for business owners
S-corporations are one of the most frequently discussed (but often misunderstood) tax structures for small business owners. While they can offer real savings on self-employment taxes, the benefits aren't automatic - they depend on your income level, involvement in the business, and whether you're ready to manage the added compliance responsibilities. Here's what you need to know about how S-corps work, who they're right for, and what's required to maintain one.
Understanding the IRS’s new deduction for qualified overtime compensation
The IRS has introduced a new federal income tax deduction for qualified overtime compensation, effective for tax years 2025 through 2028. Eligible workers can deduct up to $12,500 (or $25,000 on joint returns) of the overtime premium they earn above their regular rate of pay. This deduction reduces is available to FLSA-covered employees who meet specific eligibility requirements, including valid Social Security numbers and certain filing status conditions.
Building a financial foundation for your children
For many parents, providing financial security for their children is a top priority. But building that security involves more than funding college or opening a savings account. The real goal isn't just to transfer wealth - it's to prepare the next generation to manage, grow, and protect it.
The mega backdoor Roth: a straightforward strategy for high earners locked out of Roth IRAs
For high-income professionals locked out of traditional Roth contributions, mega Roth conversions offer a powerful alternative. By contributing after-tax dollars to fill unused space under the $72,000 annual 401(k) limit and immediately converting them to Roth, eligible savers can funnel tens of thousands annually into tax-free growth.
IRS clarifies 100% first-year bonus depreciation rules
The IRS recently issued new guidance clarifying how the permanent 100% bonus depreciation deduction will work moving forward. This allows businesses to fully deduct the cost of qualified property in the year it's placed in service, rather than depreciating it over several years.
How to use installment sales to spread real estate capital gains over time
Selling appreciated real estate? Learn how installment sales can help you spread capital gains over time, reduce your tax burden, and align payments with retirement or income planning goals. This guide explains how the strategy works, when it applies, and what tax rules to watch for, including depreciation recapture and related-party restrictions.
Rental or business? Navigating the tax treatment of short-term rentals
Understand how the IRS taxes short-term rentals, from the 14-day rule to deductible expenses and 1099-K reporting. A must-read guide for short-term rental hosts.
Welcoming Two New Partners to Topel Forman
At Topel Forman, L.L.C, our growth is driven by people, and today, we are proud to announce that Matt Osiol and Sandy Reyes have been named Partners of the firm. This milestone reflects our long-term investment in leadership development and building a future-ready CPA and advisory firm.
Understanding Trump Accounts
Trump Accounts are a new IRS-guided savings vehicle designed for children under age 18, offering tax-advantaged growth with unique contribution limits and distribution rules. Learn how Trump Accounts work, who is eligible, and key planning considerations for families and employers.
Topel Forman Named a Top Workplace – Fourth Year Running
Topel Forman is a Top Workplace. We have a people-first culture.
2025 year-end tax moves for individuals & families
From expanded deductions and new above-the-line benefits to shifting phaseouts and sunsetting exemptions, 2025 offers unique opportunities for individuals to lower their tax liability before year-end. This guide highlights smart, timely moves to help you make the most of current law before key changes take effect in 2026.
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Understanding Basis and Other Limits on Loss Deductions
Understanding when you can deduct losses isn’t as simple as looking at your tax basis. Additional layers including the at-risk rules, passive activity loss limits, and the excess business loss limitation determine how much loss you can claim and when. This article breaks down each rule and explains how they interact so taxpayers can better anticipate the tax impact of their investments and business activities.
S-corporations 101: FAQs for business owners
S-corporations are one of the most frequently discussed (but often misunderstood) tax structures for small business owners. While they can offer real savings on self-employment taxes, the benefits aren't automatic - they depend on your income level, involvement in the business, and whether you're ready to manage the added compliance responsibilities. Here's what you need to know about how S-corps work, who they're right for, and what's required to maintain one.
Understanding the IRS’s new deduction for qualified overtime compensation
The IRS has introduced a new federal income tax deduction for qualified overtime compensation, effective for tax years 2025 through 2028. Eligible workers can deduct up to $12,500 (or $25,000 on joint returns) of the overtime premium they earn above their regular rate of pay. This deduction reduces is available to FLSA-covered employees who meet specific eligibility requirements, including valid Social Security numbers and certain filing status conditions.
Building a financial foundation for your children
For many parents, providing financial security for their children is a top priority. But building that security involves more than funding college or opening a savings account. The real goal isn't just to transfer wealth - it's to prepare the next generation to manage, grow, and protect it.
The mega backdoor Roth: a straightforward strategy for high earners locked out of Roth IRAs
For high-income professionals locked out of traditional Roth contributions, mega Roth conversions offer a powerful alternative. By contributing after-tax dollars to fill unused space under the $72,000 annual 401(k) limit and immediately converting them to Roth, eligible savers can funnel tens of thousands annually into tax-free growth.
IRS clarifies 100% first-year bonus depreciation rules
The IRS recently issued new guidance clarifying how the permanent 100% bonus depreciation deduction will work moving forward. This allows businesses to fully deduct the cost of qualified property in the year it's placed in service, rather than depreciating it over several years.
How to use installment sales to spread real estate capital gains over time
Selling appreciated real estate? Learn how installment sales can help you spread capital gains over time, reduce your tax burden, and align payments with retirement or income planning goals. This guide explains how the strategy works, when it applies, and what tax rules to watch for, including depreciation recapture and related-party restrictions.
Rental or business? Navigating the tax treatment of short-term rentals
Understand how the IRS taxes short-term rentals, from the 14-day rule to deductible expenses and 1099-K reporting. A must-read guide for short-term rental hosts.
Welcoming Two New Partners to Topel Forman
At Topel Forman, L.L.C, our growth is driven by people, and today, we are proud to announce that Matt Osiol and Sandy Reyes have been named Partners of the firm. This milestone reflects our long-term investment in leadership development and building a future-ready CPA and advisory firm.
Understanding Trump Accounts
Trump Accounts are a new IRS-guided savings vehicle designed for children under age 18, offering tax-advantaged growth with unique contribution limits and distribution rules. Learn how Trump Accounts work, who is eligible, and key planning considerations for families and employers.
Topel Forman Named a Top Workplace – Fourth Year Running
Topel Forman is a Top Workplace. We have a people-first culture.
2025 year-end tax moves for individuals & families
From expanded deductions and new above-the-line benefits to shifting phaseouts and sunsetting exemptions, 2025 offers unique opportunities for individuals to lower their tax liability before year-end. This guide highlights smart, timely moves to help you make the most of current law before key changes take effect in 2026.
No results found.
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