There's good news for businesses considering buying equipment and other capital assets: The One Big Beautiful Bill Act (OBBBA) dramatically improves first-year depreciation tax breaks. Here's what you need [...]
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 newly enacted One, Big, Beautiful Bill Act (OBBBA) represents a major move by President Trump and congressional Republicans to roll back a number of clean energy tax incentives [...]
The One, Big, Beautiful Bill Act (OBBBA), which was enacted on July 4, generally extends and expands tax provisions that were scheduled to expire at year end. Here are [...]
Federal taxes are a major consideration when determining how to structure your business, and many business owners choose to operate as S corporations for their tax advantages. One upside [...]
The alternative minimum tax (AMT) is a separate federal income tax system that bears some resemblance to the regular federal income tax system. The difference is that the individual [...]
The Social Security Board of Trustees recently released "The 2025 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust [...]
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 [...]
They say age is just a number — but in the world of tax law, it’s much more than that. As you move through your life, the IRS treats [...]
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 [...]