HIVE TAX AI
Lotus Li
Lotus Li is a CPA who has transformed 20 years of professional experience into building products with a mission to simplifying everyone’s tax journey. She is passionate about bringing cutting-edge AI into the world of tax and finance and is deeply immersed in designing, building, and launching innovative AI-powered tax solutions.
Maximize Your Tax Deductions with AI: The Smart Way to Boost Your Refund in 2025
Discover how next-generation AI tax deduction finders are transforming the way CPAs and individuals uncover hidden savings.
Year-End Charitable Giving Strategies for CPAs
With new rules on the horizon, year-end is a critical window for charitable giving. In this blog, we dive into tax-efficient giving strategies (bunching, donor-advised funds, qualified charitable distributions, gifting appreciated assets, etc.)
Which tax software tools are best for different firm sizes in 2025?
Cloud-based, easy onboarding, e-file coverage for common individual and business entities, integrated e-signature and client organizers; good when you don’t want servers or VPNs
What are the tax records retention guidelines for individuals and businesses?
Keep “permanent books of account or records” sufficient to establish income, deductions, credits, and other return items, and retain them as long as their contents may become material to any internal revenue law administration.
How do I check for unclaimed credits or refunds for previous years?
Use Where’s My Refund to view the status for the current year and the two prior years. You’ll need your SSN/ITIN, filing status, and the original expected refund amount for the year you select
What evidence is required for charitable donation deductions?
A charitable contribution is deductible only if verified under regulations. Keep records that substantiate the amount, date, donee, and nature of the gift in the year paid.
What is the IRS process for refund delays or payment plan setup?
Check your status using Where’s My Refund on IRS.gov or the IRS2Go app. These tools have the most current status and update daily
How do I handle tax notices from state tax agencies?
Read the entire notice to identify the tax type, period, reason, response deadline, and how to reply
Which receipt types must be saved?
Cash donations: keep a canceled check, a receipt/acknowledgment from the charity showing the charity’s name, date, and amount, or other reliable written records with that information
What data security steps are recommended for storing tax documents?
Maintain encrypted backups to external media or reputable cloud storage; keep at least one offline/offsite copy and encrypt before uploading to the cloud