Daniel Rodrigues

Some context for my comment above about higher ed as a valuable export: In dollar terms, last year, the United States sold more educational services to the rest of the world than it sold in natural gas and coal combined.
www.washingtonpost.com/opinions/202...

This colloquy between @profmmurray.bsky.social and @justinwolfers.bsky.social, which took place before the Department of Homeland Security blocked Harvard University from enrolling international students, is newly relevant:

Now that Trump partially walked back the tariffs, how do we manly men retain our masculinity? Should we voluntarily pay more for stuff?

It's 1828. The United States has adopted the highest tariff rate of the century for insane and idiotic reasons.

It's 1929. The United States has adopted the highest tariff rate of the century for insane and idiotic reasons.

It's 2025. The United States has adopted the highest tariff rate of the ce

Looks like they’re playing just down the road from me :)

Nobody knows how this is all going to play out. Maybe the stock market drop spooks Trump into backing off. Maybe the Fed cuts a lot and housing booms. But if you're my age and have kids/a mortgage, it's worth thinking about how you'd handle a recession, the prospect of job loss, etc.

“Quem comeu meu bolo?” Grew up in Brasil :)

Elon really doesn’t know about the expanded child tax credit, wild

Thomson Reuters updated their hold music when a support rep is doing research. It’s… actually relaxing. #taxbs

simply repeating the straight reporting of what is happening in the executive branch makes you sound like you have lost your mind.

Business News & Economic Stories For Everyone Marketplace raises the economic intelligence of the country through the unorthodox story, casual conversations and unexpected angles on the news.

www.marketplace.org

Have watch out for falling iguanas (at least at the old abandoned zoo at Cranston Park) 🦎🦎🦎

…and the panic that accompanied these suspensions, led President Roosevelt to declare a bank holiday on March 6, 1933. The financial system was on the verge of collapse, and both the manufacturing and agricultural sectors were operating at a fraction of capacity.” www.fdic.gov/resources/pu...

Seems bad? “From the stock market crash in the fall of 1929 to the end of
1933, about 9,000 banks suspended operations, resulting in
losses to depositors of about $1.3 billion. The closure of 4,000
banks in the first few months of 1933…

this seems a pretty important government function (that has largely accomplished it’s goals for 90 years): “to insure bank deposits and reduce the economic disruptions caused by bank failure” www.fdic.gov/resources/pu...

[Heavy sarcasm] We forget how great banking was pre-1933!

www.fdic.gov/resources/pu...

Tax Pros should consider linking thier IRS TaxPro account with CAF number to be able to review who you have POAs for. Can withdraw POA with a couple of clicks - taxpayer notified by mail.

If I recall from prior CPE sessions, speakers mentioned Tax Pros outside the US may not have this ability?

NOL form 172 brings some of the worksheets that used to be buried in IRS Publications and Tax Software onto the actual form.

Don't forget the TCJA enacted 80% of taxable income NOL limit. I believe the 80% limit does not expire in DEC 31 2025.

The NOL tax form is renamed and redone for 2024: Now form is 172 and it 🟰 matches the IRC Section (172) that deals with NOL's

1099-DA will not include basis in the initial year (2025). Will in subsequent yeras (2026-future).

Many types of of crypto transactions (and crypto not in broker wallets) that are not (yet) subject to the 1099-DA, so taxpayer books and records continue to be important with reporting crypto income.

New information reporting forms coming our way related to Crypto: 1099-DA. Will report 2025 activity and will be issued in early 2026 by brokers.

Staking rewards part of your income in 2024? You know have a special line to report it on on the 2024 tax return. Schedule 1 line 8v.

Are staking rewards subject to NIIT? Unkown at this point and IRS thus far silent on the issue.

Some things don't change: For the first time in a few years, the Digital Assets question on page 1 of the tax return is unchanged from 2023.

Secure Act 2.0: In 2024 (but postponed to 2026 🤷‍♂️), Catch-up contributions to qualified retirement plans need to be a ROTH contribution IF prior year wages are more than $145,000 (wages indexed for inflation so will be > in 2026).

I think this will catch a lot of payroll departments off-guard.

Early Distribution Exceptions often allow for a 3 year repayment. How to track/remind clients of this opportunity?

2024 tax returns have more exceptions to the 10% early distribution penalties (for retirement plan withhdrawals). Up to $1,000 Emergency Personal Expense ; Up to $10,000 (indexed for inflation) for Domestic Abuse Victim.

25E Used EV credit has its own website to confirm potential max credit available: fueleconomy.gov/feg/taxused....

Obtain copy of the Seller Report from the dealer to claim the 30D credit as the tax forms now ask for VINs.

Additional Cash Flow benefit Election to transfer credit to dealer: it may reduce financing costs.

30D election to transfer the credit to the dealer should be considered as it effectively makes the credit de facto refundable. When credit claimed on return it is non-refundable and limited to the taxpayers tax liability.

Wondering if that EV you are looking at qualifies for an IRC 30D tax credit? Lookup the year, make model here first. fueleconomy.gov/feg/tax2023....