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.
How do bonus depreciation rules apply to small businesses this season?
Bonus depreciation (the special depreciation allowance under IRC § 168(k)) is not limited to “small businesses” specifically; it depends
How is the employer-provided childcare tax credit enhanced?
For amounts paid or incurred after December 31, 2025 (generally starting with tax year 2026), the employer-provided child care credit under IRC § 45F is enhanced in several ways
Are there expanded credits for education through state or federal programs this season?
Here’s what HIVE AI had to say about "Are there expanded credits for education through state or federal programs this season?": Federal (IRS) education credits this filing season (generally 2025 income filed in 2026) There are not new “expanded” federal education...
What new charitable contribution deduction rules apply in 2026?
New/returned “non-itemizer” charitable deduction: Beginning with tax year 2026, if you don’t itemize deductions, you can still deduct up to $1,000 ($2,000 if married filing jointly)
Which taxpayers benefit most from the increased standard deduction?
Taxpayers benefit most when the increased standard deduction is larger than what they could otherwise claim as itemized deductions (Schedule A)
What is the maximum Earned Income Tax Credit for 2025 income?
For tax year 2025 (2025 income), the maximum federal EITC depends on how many qualifying children you have:
Augusta Tax Strategies for Business Owners and HNW Clients: One of the Biggest AI Tax Planning Opportunities for 2026
Augusta tax strategies remain one of the most overlooked AI tax planning opportunities for business owners and high-net-worth clients heading into the 2026 tax season.
How do filing status changes (marriage/divorce) affect returns this year?
For the return most people are filing in 2026 (the 2025 tax year), your filing status is generally based on whether you were married or unmarried on December 31, 2025.
How do dependents impact 2026 tax credits?
If you mean your 2026 tax return (tax year 2026, typically filed in 2027), dependents mainly affect these credits: Child Tax Credit/Additional Child Tax Credit, Credit for Other Dependents
What are the key considerations for first-time homebuyers?
Home mortgage interest is generally deductible only if you itemize deductions on Schedule A and the loan proceeds were used to buy, build, or substantially improve the home securing the loan.