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 I report losses for a startup that fails?
Sole proprietor or single‑member LLC taxed as disregarded entity: report the final year’s business income and deductible expenses on Schedule C with your Form 1040
What is the best method for valuation of startup equity and options?
Fair market value for startup common stock at grant must be determined in a “reasonable manner.” For ISOs, the option price must be at least FMV at grant.
How do I handle taxes for multi-member LLCs?
By default, a domestic LLC with more than one owner is treated as a partnership for federal income tax purposes and files Form 1065. Members receive Schedules K‑1 reporting their distributive shares of income, deductions, credits, etc. 1
How CPA Practitioners Can Ramp Up for the 2026 Tax SeasonÂ
The 2026 tax season is shaping up to be one of the most complex and demanding years yet for CPA practitioners. With ongoing tax law changes, increased IRS scrutiny
How do I comply with international tax reporting as a U.S. business owner?
Identify your foreign activities and ownership: owning foreign entities, conducting business through foreign branches/QBUs, foreign bank/investment accounts, foreign trusts, or paying/withholding
The Best AI Tax Research & Planning Tool for Small CPA Firms in 2026
Small CPA firms are adopting AI tax research tools, AI tax planning tools, and agentic AI in tax at record speed to stay competitive, reduce workload, and deliver higher-value advisory services.
Why Small CPA Firms Need AI Tax Research & AI Tax Planning Tools to Stay Competitive in 2026
Running a CPA firm with 2–20 associates means you are constantly balancing tax compliance, growing advisory revenue, and training junior staff—often with limited resources.
The Future of Tax Advisory: Why Every CPA Firm Needs a Simple, Low-Cost, Versatile AI Tax Planning Tool
If you’re planning to expand into higher-value tax advisory services or upsell existing clients, the right AI tax planning tool becomes essential.
Can missed deductions from past years be claimed now?
Most deductions must be claimed on the return for the year the expense was incurred. If you missed one, you generally need to file an amended return for that year.
What are the IRS educational benefits for college and grad students?
American Opportunity Tax Credit (AOTC): For the first four years of postsecondary education; must be at least half-time in a degree or credential program and have not completed the first four years