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.
Are legal fees deductible on my taxes?
Legal fees may be deductible if they are business-related, tax-related, or tied to rental properties. Personal legal fees, including divorce costs, are typically not deductible.
Can teachers still deduct classroom expenses, and what is the limit?
Teachers can deduct up to $300 in classroom expenses in 2024, including supplies and professional development costs. Married educators can claim up to $600 jointly.
Are union dues deductible this year?
Union dues are not deductible on federal income tax returns for 2024 due to the TCJA suspension, lasting through 2025. Deductions may resume in 2026.
Can I deduct moving expenses in 2025?
In 2025, most taxpayers cannot deduct moving expenses, except for active-duty military members moving under military orders.
Can I deduct home office expenses if I work remotely?
Yes, you can deduct home office expenses if you work remotely, but you must meet IRS criteria like exclusive use and regular business activity.
How do I deduct charitable donations on my taxes?
To deduct charitable donations, itemize on Schedule A and give to qualified charities. Keep receipts and follow IRS rules for documentation.
Can I claim medical expenses as a deduction, and what qualifies?
You can deduct medical expenses that exceed 7.5% of your AGI if you itemize deductions—qualified costs include insurance, treatments, supplies, and more.
Can I deduct student loan interest in 2025?
Yes, you can deduct up to $2,500 in student loan interest for 2025, subject to income limits and other eligibility rules—even if you take the standard deduction.
What is the standard deduction amount for 2025?
The standard deduction for 2025 is $15,000 (single), $30,000 (joint), and $22,500 (head of household), with additional amounts for age or blindness.
Divorce Tax Planning for High Earners and Business Owners: Strategies to Preserve Wealth and Minimize Tax
Explore smart divorce tax planning strategies for high earners and business owners—protect wealth, minimize taxes, and navigate asset division with confidence.