The Child Tax Credit (CTC) has long been a valuable tax break for families with qualifying children. Whether you’re new to claiming the credit or… Read More »Financial relief for families:The benefits of the Child Tax Credit
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants, hotels and salons. Compliance… Read More »Questions about taxes and tips? Here are some answers for employers
Retirement is often viewed as an opportunity to travel, spend time with family or simply enjoy the fruits of a long career. Yet the transition… Read More »Taming the tax tangle if you’re retiring soon
A variety of tax-related limits that affect businesses are indexed annually based on inflation. Many have increased for 2025, but with inflation cooling, the increases… Read More »Many business tax limits have increased in 2025
Chances are, you’re more concerned about your 2024 tax return right now than you are about your 2025 tax situation. That’s understandable because your 2024… Read More »Looking ahead to 2025 tax limits as you prepare to file your 2024 return
With the 2025 tax filing season underway, be aware that the deadline is coming up fast for businesses to submit certain information returns to the… Read More »Businesses: The Form W-2 and 1099-NEC deadline is coming up fast
The IRS announced it will start the 2025 filing season for individual income tax returns on January 27. That’s when the agency began accepting and… Read More »Early bird tips: Answering your tax season questions
The nationwide price of gas is slightly higher than it was a year ago and the 2025 optional standard mileage rate used to calculate the… Read More »The standard business mileage rate increased in 2025
Once you reach age 73, tax law requires you to begin taking withdrawals — called Required Minimum Distributions (RMDs) — from your traditional IRA, SIMPLE… Read More »Do you have questions about taking IRA withdrawals? We’ve got answers
New and used “heavy” SUVs, pickups and vans placed in service in 2025 are potentially eligible for big first-year depreciation write-offs. One requirement is you… Read More »Small business strategy: A heavy vehicle plus a home office equals tax savings
As higher education costs continue to rise, you may be concerned about how to save and pay for college. Fortunately, several tools and strategies offered… Read More »Saving for college: Tax breaks and strategies your family should know
When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the Internal Revenue Code, which governs… Read More »How Section 1231 gains and losses affect business asset sales