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Monthly Archives: May 2026

More Taxpayers Qualify to Participate in Health Savings Accounts in 2026 by Anthony Gutierrez, CPA

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Posted on May 29, 2026 by Anthony Gutierrez

The One Big Beautiful Bill Act (OBBBA), enacted in 2025, expands taxpayers’ eligibility for health savings accounts (HSAs), allowing more people to save and pay for qualifying medical expenses through these triple-tax-advantaged accounts. With an HSA, contributions by qualifying taxpayers via payroll deductions are not subject to federal income tax, whereas self-funded contributions are tax-deductible […]

IRS Provides Initial Guidance on Depreciation Deductions for Qualified Production Property By Joseph C. Leuchter, CPA

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Posted on May 19, 2026 by Joseph Leuchter

The IRS recently issued interim guidance on a provision in the One Big Beautiful Tax Act (OBBBA) that enables taxpayers to claim a temporary first-year 100 percent deduction for the cost of constructing certain factories, manufacturing plants and refinery structures in the U.S. or a U.S. territory. Generally, the provision applies to a new class […]