An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under the One Big Beautiful Bill [...]
Do you know the current rules for claiming tax deductions for business meals and entertainment? Whether you're wining and dining a prospective customer or taking an employee to lunch, [...]
If you itemize deductions on your 2025 individual income tax return, you potentially can deduct donations to qualified charities you made last year. But your gifts must be substantiated in [...]
If you had significant medical expenses last year, you may be wondering what you can deduct on your 2025 income tax return. Income-based thresholds and other rules can make [...]
Every year, severe storms, flooding, wildfires and other disasters affect millions of taxpayers. Many experience casualty losses from damage to their homes or personal property. The One Big Beautiful [...]
Beginning in 2026, individuals who itemize deductions and donate to charity will face a new limit on their charitable deductions. And in some cases, they’ll face two new limits. But [...]
Year end is here, but there's still time for individual taxpayers to make moves to lower their 2025 tax bills. The One Big Beautiful Bill Act (OBBBA), which became [...]
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 [...]
Section 529 plans are most commonly used as a tax-favored way to save and pay for college expenses. You might be reluctant to open a 529 account for your [...]
Investing in a home brings tax benefits Purchasing a home is the most significant investment most people will make. Owning your home comes with valuable tax advantages that can [...]
The holiday season is right around the corner, and that's when many charitably inclined people start to think about year-end donations to their favorite charities. When planning your charitable [...]
The One Big Beautiful Bill Act (OBBBA), which became law on July 4, 2025, includes many favorable changes that will help small businesses and their owners. But it's not [...]
Individual taxpayers faced significant tax planning uncertainty for the first six months of the year. Many provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) were scheduled to [...]