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Plain-English notes on tax, planning, and running a practice. Written by a CPA, for operators and founders who'd like to understand what's actually happening on their returns.

★ Featured Tax Oct 01, 2026 5 min read

Form 5472: The $25,000 Information Return Hiding Inside Your 1120

Here’s a filing that catches sophisticated people every year: it reports no income, computes no tax, and can apply to a company that never earned a dollar. The penalty for skipping it starts at $25,000, and unlike most penalties, it has no ceiling. Meet Form 5472.

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The FBAR: Why a Form With No Tax Due Carries Some of the Harshest Penalties in the Code

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Mastering Form W-9 and 1099 reporting to avoid year-end headaches.

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The R&D credit: turn product work into payroll-tax savings.

R&D tax credit · 3 min

Sec. 174 after OBBBA: immediate expensing of domestic R&E back on the menu.

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No tax on tips, sort of. What changed, what has not, and now what.

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The Norling letter.

One email, once a month. Tax planning moves, rule changes, and office notes, written by a CPA and read in five minutes.