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.
What is the exact federal filing deadline in 2025?
he due date to file your 2024 federal individual income tax return is Tuesday, April 15, 2025. If you e-file, the transmission time in your time zone controls timeliness; if you mail, a timely postmark counts.
Year‑End Tax Planning: How AI Tax Research Tools Empower CPAs
As the calendar year winds down, CPAs and taxpayers have an opportunity to make moves that could affect next year’s tax bill. The IRS reminds taxpayers that the U.S. tax system operates on a pay‑as‑you‑go basis, so checking your withholding during the year is important to avoid a surprise bill or an unnecessarily large refund.
Year-End Client Newsletter Ideas (2025 Edition)
As we approach the final quarter of 2025, CPAs have a prime opportunity to deliver value to clients, guide year-end decisions, and strengthen advisory relationships.
Year-End Estate & Gift Tax Planning for CPAs: How Agentic AI & Hive Tax Tools Can Accelerate Your Client Strategy
As 2025 approaches—and with looming changes to the federal estate and gift tax landscape—year-end planning becomes mission critical.
What is the best tax strategy for maxing out retirement plan contributions?
Contribute up to the annual elective deferral limit to your 401(k) or 403(b) and use age-50 catch-up if eligible. For reference, the IRS shows 2024 limits of $23,000 (401(k)/403(b)) and $16,000 (SIMPLE)
How do GRATs and family limited partnerships get taxed?
Most GRATs are structured as grantor trusts, so all trust income, deductions, and gains are taxed to the grantor while the grantor retains powers or interests that trigger grantor trust status. Under Rev. Rul. 85-13 principles
What is the tax impact of life insurance policy payouts?
Amounts paid by reason of the insured’s death are generally excluded from the beneficiary’s gross income. Any interest paid on top of the death benefit (for example, if the insurer holds the proceeds and pays installments with interest) is taxable as interest income and should be reported accordingly.
Are qualified charitable distributions still tax-advantaged in 2025?
Yes. A QCD is a direct transfer from your IRA to a qualifying charity that is excluded from your gross income. The basic QCD rules (age 70½ or older; direct trustee-to-charity transfer; only to section 170(b)(1)(A) organizations
How are beneficiary designations taxed on retirement plans?
Naming a beneficiary has no tax effect by itself. Taxation happens when benefits are paid. In general, a beneficiary includes in income the same portion of a retirement plan distribution the participant would have,
Are there changes for reporting gifts to non-US persons?
There’s no special change to gift tax reporting just because the recipient is a non‑U.S. person. U.S. gift tax is donor‑based: you file Form 709 for taxable gifts in the same way you would for gifts to U.S. persons.