Tax Law Updates

By Jason Watson, CPA
Posted Sunday, May 25, 2025

The tax law is continuously changing from the acts of our government, from the decisions by the Tax Court and Federal courts, and through notices and private letter rulings from the IRS. In addition to changes, other topics of interest pop up in various trade journals such as Journal of Accountancy, Tax Adviser and Kiplinger’s Tax Letter. As we discover other issues concerning real estate, such as short-term rental loophole, material participation, real estate professional status, and all the gibberish in between, we want to get the word out right away.

More importantly, the frequent consultations we perform and the questions we field provide a steady stream of new ideas that are worthy of being wormed into this book. So, here’s to you- the intellectually curious real estate investor and small business owner helping others.

Currently this book is our 2025 Edition (2st). While not necessarily a companion to our other book, Taxpayer’s Comprehensive Guide to LLCs and S Corps, this book was certainly inspired by it. Yes, it is our first edition. No, we’re not rookies. Similar to the genesis of our first book, I Just Got a Rental, What Do I Do? started as a compilation of several articles and blog posts that we’ve written over the years, and then we backfilled a bunch. We encourage you to visit our website for information on updates-

wcginc.com/book

In addition, please check out our blog from time to time for discussion of current tax issues-

wcginc.com/blog

Note: As much as we attempt to update our books periodically throughout the year, our blog posts allow us to provide more frequent updates. We encourage you to visit. We are a tax and consultation firm first, and a book-writing firm second; we kindly ask for some patience.