Spousal IRAs Offer Retroactive Tax-Saving Opportunity
Not all married couples earn dual incomes. For example, during the course of a marriage, one spouse may leave the workforce to care for a family member ... Read More >
Not all married couples earn dual incomes. For example, during the course of a marriage, one spouse may leave the workforce to care for a family member ... Read More >
How The Postmark Change Impacts Tax Return Filings and Payments A recent change by the U.S. Postal Service may affect how the IRS treats certain tax ... Read More >
The demand for long-term care facilities in the United States continues to rise, along with the costs. Someone who turns 65 today has roughly a 70% ... Read More >
Every year, the amounts allowed for various federal tax benefits are subject to inflation adjustments and legislative changes. 2026 Federal Tax Benefits ... Read More >
On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law, enacting significant changes to federal tax and payroll law. The Act extends ... Read More >
For the first half of 2025, individual taxpayers faced an uncertain tax situation because many provisions of the Tax Cuts and Jobs Act (TCJA) were ... Read More >
On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). As promised, the tax portion ... Read More >
As separate legal entities, estates and nongrantor trusts must file their own federal tax returns, just like individual taxpayers. Unlike individuals, ... Read More >
The Tax Cuts and Jobs Act (TCJA), enacted late in 2017, suspended deductions for most casualty and theft losses from 2018 through 2025, except for ... Read More >
Choosing the right business entity is one of the most important decisions entrepreneurs make when launching or restructuring a business. The type of ... Read More >
The U.S. House of Representatives recently passed a sweeping tax and spending measure, dubbed “The One, Big, Beautiful Bill.” It includes ... Read More >
Geopolitical risks, reciprocal tariff proposals, interest rate and tax law concerns, and other market uncertainties have rocked the stock market in ... Read More >
In many areas, vacation home prices have skyrocketed, along with property insurance costs. If you own a highly appreciated vacation property, is it ... Read More >
If you are self-employed, run your own small business, or have rental or investment income, there’s a good chance you must make quarterly estimated ... Read More >
How big is your retirement nest egg? Too often, people sacrifice retirement savings to afford a bigger home, cover emergency expenses or pay for their ... Read More >
A current IRS hot button is federal income tax reporting of digital-asset transactions. The government is concerned that some taxpayers fail to report ... Read More >
Gambling can be a fun pastime or a serious professional endeavor. Either way, winnings are taxable income. Yet, as recently reported by the Treasury ... Read More >
Years ago, many taxpayers itemized deductions instead of claiming the standard deduction. But fewer taxpayers are itemizing today due to a bevy of ... Read More >
The Republicans will soon control the White House and both chambers of Congress, which will likely open the door for major tax legislation next year. ... Read More >
The following chart provides some important federal tax information for 2025 compared to 2024. Social Security/ Medicare 2025 2024 Social Security ... Read More >