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Are Prizes and Awards Taxable?
Discover how the IRS taxes prizes and awards, when exceptions apply under I.R.C. § 74(b), and what key court cases like Paul Hornung and Rogallo reveal about taxable income. Learn how to legally avoid taxes on certain awards through charitable transfers and understand what truly qualifies as a non-taxable gift.
szogal
Jul 234 min read
How New Tax Legislation Could Help and Hinder Elon Musk’s Business Empire
By: Stephen Zogal, EA Date: 6/20/25 The sweeping tax reforms under H.R. 1 Senate bill of the new legislative proposal bring both...
szogal
Jun 203 min read
How the New Tax Legislation Will Boost the Daycare Industry in 2025
By: Stephen Zogal, EA Date: 6/19/2025 The 549 page legislation released by the Senate Bill H.R. 1, includes some interestings provisions....
szogal
Jun 193 min read
Tax Reform 2025- What did the Senate Include?
By: Stephen Zogal, EA Date: 6/18/2025 The US Senate released its version of the "Big Beautiful Bill" on June 16th and it includes some...
szogal
Jun 185 min read
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