The recently enacted One Big Beautiful Bill Act (OBBBA) marks a significant step by President Trump and congressional Republicans toward dismantling several clean energy tax incentives. These tax breaks [...]
If you make quarterly estimated tax payments, the amount you owe may be affected by the One Big Beautiful Bill Act (OBBBA). The law, which was enacted on July 4, 2025, introduces [...]
Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence interest or home mortgage interest, which can be deducted, [...]
The One Big Beautiful Bill Act (OBBBA) includes a number of beneficial changes that will help small business taxpayers. Perhaps the biggest and best changes are liberalized rules for [...]
As 2025 began, individual taxpayers faced uncertainty with several key provisions of the tax law that were set to expire at the end of the year. That changed on July [...]
Retirement planning is essential for all families, but it can be especially critical for couples where one spouse earns little to no income. In such cases, a spousal IRA [...]
The IRS and closely held C corporations often disagree about the reasonableness of compensation paid to shareholder-employees. The company wants to classify payments to shareholder-employees as deductible compensation expense. [...]
College can be expensive. According to the College Board, the average sticker price for tuition and fees at private colleges was $43,350 for the 2024–2025 school year. The average [...]
The IRS has an Employee Plans Team Audit (EPTA) program to enforce the tax rules for employee benefit programs in large companies. According to the tax agency, one of [...]
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, the [...]
Choosing the right business entity is one of the most important decisions entrepreneurs make when launching or restructuring a business. The type of entity selected affects how the business [...]
The U.S. House of Representatives passed The One, Big, Beautiful Bill Act on May 22, 2025, introducing possible significant changes to individual tax provisions. While the bill is now being [...]
The current federal gift tax regime is favorable by historical standards. The Tax Cuts and Jobs Act (TCJA) significantly increased the unified exemption for 2018 through 2025 with annual inflation [...]
Do you believe you don’t need to worry about estate planning because of the current federal estate tax exemption ($13.99 million per individual or $27.98 million for married couples in [...]
As the use of digital assets like cryptocurrencies continues to grow, so does the IRS’s scrutiny of how taxpayers report these transactions on their federal income tax returns. The [...]