Beginning in 2026, taxpayers in the top federal income tax bracket will see their itemized deductions reduced. If you’re at risk, there are steps you can take before the [...]
Significantly fewer taxpayers have owed the alternative minimum tax (AMT) for the last several years. This is because the Tax Cuts and Jobs Act (TCJA) made the individual AMT [...]
Are you thinking about making financial gifts to loved ones? Would you also like to reduce your capital gains tax? If so, consider giving appreciated stock instead of cash. [...]
The 2026 Social Security wage base has been released. What’s the tax impact on employees and the self-employed? Let’s take a look. FICA tax 101 The Federal Insurance Contributions [...]
An acquisition of a target company's stock or assets can help your business expand its operations while maintaining control of the company. With taxable direct purchases, the buyer simply [...]
Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025 taxes and might even provide permanent tax savings. [...]
When a couple ties the knot or gets divorced, taxes are probably not the first thing on their minds. But many decisions that couples make do affect their tax returns [...]
As the year draws to a close, many businesses look for ways to recognize and thank their employees. From gift cards to holiday treats to service awards, the options [...]
Saving taxes probably isn’t your primary reason for supporting your favorite charities. But tax deductions can be a valuable added benefit. If you donate long-term appreciated stock, you potentially [...]
Approximately 1.3 million Americans live in nursing homes, according to the National Center for Health Statistics. If you have a parent moving into one, taxes are probably not on [...]
The qualified business income (QBI) deduction, which became effective in 2018, is a significant tax benefit for many business owners. It allows eligible taxpayers to deduct up to 20% [...]
The treatment of research and experimental (R&E) expenses is a high-stakes topic for U.S. businesses, especially small to midsize companies focused on innovation. As the tax code currently stands, [...]
In many types of businesses, it's common for employees to spend money on behalf of the company — such as for travel, client meals or supplies. How those expenses [...]
Do you enjoy spending time at the casino or betting on sports? If so, you need to know about a new tax law provision scheduled to go into effect in [...]
Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance and tax savings. Good [...]