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.
Unlocking SALT Planning Opportunities Under the One Big Beautiful Bill Act (OBBBA)
The One Big Beautiful Bill Act (OBBBA) reshapes the federal tax landscape—including key reforms to the State and Local Tax (SALT) deduction cap.
Maximizing the Child Tax Credit: Tax Planning Strategies Under the One Big Beautiful Bill Act (OBBBA)
With the passage of the One Big Beautiful Bill Act (OBBBA), significant changes have been made to the Child Tax Credit, providing new planning opportunities for tax and financial professionals.
Are there changes to the pass-through entity tax workaround for SALT under the One Big Beautiful Bill?
The One Big Beautiful Bill does not appear to contain specific provisions that directly modify the existing pass-through entity tax workaround for State and Local Tax (SALT) deductions.
How long will the increased SALT cap remain in effect before reverting under the One Big Beautiful Bill?
The increased State and Local Tax (SALT) deduction cap under the One Big Beautiful Bill represents a temporary enhancement to the current tax limitation structure.
What is the new SALT cap, and how does it phase out for higher-income taxpayers under the One Big Beautiful Bill?
The One Big Beautiful Bill introduces significant changes to the State and Local Tax (SALT) deduction that represent a substantial departure from the current $10,000 limitation established by the Tax Cuts and Jobs Act (TCJA).
Estate Tax Exemption Planning Under the One Big Beautiful Bill Act (OBBBA): Maximizing Wealth Protection with AI Tax Tools
The One Big Beautiful Bill Act (OBBBA) brings sweeping changes to estate tax exemption planning in 2025 and beyond. This update affects high-net-worth families, business owners, and advisors.
SALT Deduction Cap Adjustment in 2025: What Tax Pros Need to Know and How AI Tax Tools Can Help
The potential adjustment to the SALT deduction cap in 2025 could reshape tax strategies for high-income earners and homeowners in high-tax states.
Is equipment financed in 2024 still eligible for depreciation?
Yes, equipment financed in 2024 is still eligible for depreciation, including bonus depreciation and Section 179 expensing. The method of financing does not affect the depreciation eligibility of business equipment, as long as the equipment meets the fundamental requirements for depreciation.
How do I depreciate real estate used in my business?
Depreciating real estate used in your business involves specific rules and methods under the Modified Accelerated Cost Recovery System (MACRS). The treatment depends on the type of real property, when it was placed in service, and how it’s used in your business operations.
Can I expense software subscriptions or licenses?
The tax treatment of software subscriptions and licenses depends on several factors, including the type of software, how it’s acquired, and how it’s used in your business. The tax code provides different pathways for expensing or capitalizing these costs, each with specific requirements and benefits.