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.
Case Study: Using Hive AI Tax Planning Assistant to Evaluate an S Corporation Election
I worked with a business-owner client whose income was flowing through an operating partnership and being reported as self-employment income
What questions should I ask my tax preparer specifically for this 2026 season?
Will you sign my return as the paid preparer and include your PTIN on the filed return (not just on my copy)?
How do energy and clean-vehicle credits impact 2026 filings?
For the 2026 filing season (generally filing 2025 returns), the clean-vehicle credits can still matter, but only if the vehicle was acquired on or before September 30, 2025.
What rules exist for Qualified Opportunity Zone investments?
Temporary gain deferral: if you have eligible gain and make a timely qualifying investment in a Qualified Opportunity Fund (QOF), you can generally defer recognizing that gain until the earlier of an inclusion event or December 31, 2026.
How are student loan interest deductions treated?
Student loan interest is deductible as an adjustment to income (above-the-line), so you can claim it even if you don’t itemize deductions.
What planning should small corporations consider by April 15?
Calendar-year C corporations generally have an income tax return due date of April 15 following the close of the tax year (so a 2025 calendar-year Form 1120 is due April 15, 2026).
What international tax treaties affect filings this year?
Treaties don’t change the basic requirement to file when you otherwise must file, but they can change the U.S. tax result (rate, exemption, sourcing, permanent establishment, residency tie-breaker), and can trigger specific
How are high-income taxpayers affected by itemized deduction caps?
For 2026 and later years, the traditional “overall limitation on itemized deductions” (the old Pease limitation) remains eliminated, but a new rule limits the tax benefit of itemized deductions for taxpayers in the highest bracket (37%).
What are changes affecting trusts or estates in 2026 filings?
Increased basic exclusion amount for 2026: For estates of decedents dying after December 31, 2025 and gifts made after December 31, 2025, the basic exclusion amount is increased to $15,000,000
How do partnerships and S corporations report for 2026?
Partnerships generally report annually on Form 1065 and issue Schedule K-1s to partners (and, if applicable, Schedules K-2/K-3 for international items).