IRS rules Archives - Fraim, Cawley & Company, CPAs

Safe Harbor Rule: How to Avoid IRS Penalties in 2026

If you’ve ever been hit with an IRS underpayment penalty, you already know how annoying it is. It is one of the most avoidable penalties in the tax code, yet…

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March 25, 2026

Taxes & Tax Prep

Business or Personal? What the IRS Says You Can’t Deduct – Even If It Helps Your Business

Q: Can I deduct expenses that provide a personal benefit – like business suits, cosmetic work, therapy, or pet care? A: Almost never. The IRS allows a deduction only when…

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May 30, 2025