Important Tax Election Deadlines for Business Entities
The time is now to face the tax election deadlines for business entities. Because the March 15 deadline falls on a Sunday, the Internal Revenue Service has extended the filing deadline to Monday, March 16, 2026, under standard IRS procedures for weekend adjustments. This extended timeline provides a narrow window for entities to implement significant…
Child and Family Tax Benefits: What’s New for 2025
The One Big Beautiful Bill Act (OBBBA) delivers long-awaited updates to the tax code for families. With permanent and expanded benefits for parents, caregivers, and those supporting dependents, the new child and family tax benefits could significantly boost your refund or reduce your tax bill starting in 2025. Here’s a detailed look at the most…
New Tax Break for Seniors: Are You Eligible for the $6,000 Deduction?
The One Big Beautiful Bill Act (OBBBA) introduces a fresh wave of tax changes, and seniors are among the clear winners. Beginning in the 2025 tax year, individuals age 65 and older may qualify for a new, targeted deduction worth up to $6,000 per person. Let’s review how to take advantage of this tax break…
New 1099 Reporting Rules Under the OBBBA
If your business pays contractors or uses payment apps like PayPal or Venmo, there are major IRS reporting changes you need to know about. The One Big Beautiful Bill Act (OBBBA) changed the 1099 reporting rules, raising the income thresholds and reducing the number of forms most businesses will need to file. Here’s a breakdown…
Maximize Your 2025 Tax Savings with These OBBBA Planning Strategies
Learn how to combine new tax breaks under the OBBBA — from income deductions to family credits — into one smart 2025 tax savings strategy. The One Big Beautiful Bill Act (OBBBA) is more than just a list of new deductions. It’s a powerful opportunity to rethink your tax strategy for 2025 and beyond. If…
OBBBA Makes Lower Tax Rates Permanent: What It Means for Your 2025 Return
The One Big Beautiful Bill Act (OBBBA) delivers exactly what many taxpayers were hoping for: lower income tax rates made permanent and a larger standard deduction to reduce taxable income. While OBBBA introduces many changes across the board, let’s focus on how it affects individual tax brackets and deductions, particularly for those who do not…
IRS Phasing Out Paper Checks
Are you still using checks for IRS payments and refunds? If you said yes, then you are in for a few changes. IRS phasing out paper checks, making payments faster and safer for taxpayers. If you’ve already been making and receiving IRS payments via direct deposit, you’re good to continue. If you’ve been sending and…
The End of the Energy Credit: What the OBBBA Means for the Solar Tax Credit
The One Big Beautiful Bill Act (OBBBA), signed into law on July 4th, 2025, has made many changes to the tax code, including some surprising cuts. One notable removal is the elimination of several popular energy tax credits starting with the 2025 tax year. That’s right. Learn what the OBBBA means for the solar tax…
Big Changes Ahead: What the One Big Beautiful Bill Act Means for Your Taxes
Congress passed the One Big Beautiful Bill Act (OBBBA) this summer, and it’s living up to its name with sweeping changes to the individual tax code. If you’re wondering how it affects your personal taxes, including deductions and credits, you’re not alone. Here’s a breakdown of the most important changes that are easy for all…
3 Simple Ways to Take a Charitable Contribution Deduction
Donating to Goodwill, the Salvation Army, or your favorite charity can be a great way to give back and reduce your tax bill. However, you could be denied if you don’t follow IRS rules to take a charitable contribution deduction. Are you getting ready to hit the road to be a digital nomad or RVer?…