Clarity Tax & Accounting

06/16/2026

Thinking of moving into your Montana rental to make it your tax‑free home? You may exclude up to $250K/$500K — but depreciation recapture and post‑2008 “nonqualified use” can make part of your gain taxable. Don’t let a surprise tax bill eat your profit. Find out how.

Learn how the Section 121 exclusion, depreciation recapture, and nonqualified use rules impact the sale of a rental property converted into your main home.

06/16/2026

Save now, save later.

06/15/2026

Did you know an old life insurance policy could be worth far more than its cash surrender value? If coverage outlived its purpose, a life settlement can unlock lump‑sum cash — sometimes even for term policies. Curious about tax impacts in Montana? Find out.

Learn the tax implications of selling a life insurance policy. Our Billings tax experts guide small businesses through life settlements and capital gains.

06/15/2026

Surrendering, selling, or transferring a life insurance policy can lead to different tax implications. Watch this video for a brief overview.

06/15/2026

Keep moving forward, no matter what roadblocks you encounter.

06/12/2026

Think Venmo or Zelle income is "off the books"? Surprise — digital payments are taxable, and messy records can trigger audits or big self‑employment tax bills. Billings small businesses: learn how to get organized, protect deductions, and avoid surprises. Find out.

Payment apps like Venmo, PayPal, Cash App, and Stripe can trigger tax reporting. Learn Form 1099-K rules and how to stay compliant.

06/11/2026

Parents: sports costs add up — but some can help your taxes. Learn when day-camp fees qualify for the Child & Dependent Care credit, when donations or volunteer expenses are deductible, and how NIL income is taxed. Surprising tip: you can’t claim mileage if your child is in the car. Find out more.

Expert tax advice for parents on sports expenses, charitable volunteer deductions, medical exceptions, and NIL income tax rules.

06/10/2026

Turning hobbies into income? Congrats — but beware: just $400 in net freelance earnings can trigger a 15.3% self‑employment tax. Learn simple steps (easy bookkeeping, quarterly estimates, set aside 25–30%) to avoid ugly April surprises. Find out.

Learn how to avoid the side hustle tax trap. Expert advice for Montana freelancers and creators on self-employment taxes, 1099-K rules, and tax planning.

06/10/2026

Investing in your financial future matters. Investing in knowledge matters even more.

06/09/2026

Big news for servers, bartenders, stylists & gig workers: a temporary 2025–2028 tax break could let you deduct up to $25,000 in qualified tips. Surprising twist — crypto tips don’t count and 2026 reporting gets stricter. Find out if you qualify.

Expert breakdown of the new federal tip deduction. Learn about TTOC codes, the $25,000 cap, and reporting requirements for 2025-2028.