News

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 >

With the 2025 tax year almost here, there’s news from the IRS about retirement savings. According to a recent announcement from the tax agency ... Read More >

If anyone in your household had a Marketplace Health Insurance plan in 2024, you must obtain Form 1095-A before you file your tax returns. The form ... Read More >

Under the Corporate Transparency Act (CTA), many business owners must file corporate transparency reports that provide beneficial ownership data. The ... Read More >

With the holiday season rapidly approaching, you may consider gift ideas for friends, family members and business associates. A popular and convenient ... Read More >

As we approach the 2025 tax season, the IRS strongly recommends that all taxpayers obtain an Identity Protection Personal Identification Number (IP ... Read More >

The Tax Cuts and Jobs Act (TCJA) virtually doubled the standard deduction through 2025. So, fewer taxpayers are itemizing deductions these days. Instead, ... Read More >

Navigating the maze of federal taxes can be daunting. Many tax terms are confusing, whether you’re a business owner, a seasoned individual taxpayer ... Read More >

Businesses are returning to their regular work premises in droves. About 65% of U.S. businesses expect to implement return-to-office policies by the ... Read More >

The “kiddie tax” prevents parents from shifting income-producing assets to children to take advantage of their lower tax rate. It was ... Read More >

The landmark Tax Cuts and Jobs Act (TCJA) was passed in late 2017, but the law is still in the headlines today. Most TCJA provisions that affect individual ... Read More >

The Tax Cuts and Jobs Act (TCJA) included many important federal income tax provisions that affect small business taxpayers and their owners. Some ... Read More >

The Tax Cuts and Jobs Act (TCJA) dramatically increased the unified federal gift and estate tax exemption from $5.49 million in 2017 to $13.61 million ... Read More >

The Tax Cuts and Jobs Act (TCJA) made sweeping changes to the federal tax rules for individual taxpayers. Many of these provisions are scheduled to ... Read More >

In recent years, the residential real estate markets in many areas have surged. That means there are more seniors with highly appreciated homes than ... Read More >

The national conventions for both political parties’ presidential candidates have wrapped up and their platforms have finally been released. ... Read More >