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Missed your quarterly estimates this year? You’re not alone. The IRS underpayment charge is nondeductible, compounds daily, and snowballs fast. Writing a big check today will stop new penalty accrual from this point forward, but it won’t erase the pe...

October 2025 The One Big Beautiful Bill Act (OBBBA) didn’t just keep Opportunity Zones alive. It made the program permanent, tightened zone eligibility, and changes investor incentives starting January 1, 2027. Below is the upgraded, client-ready exp...

October 2025 If you’re age 70½ or older, you can transfer money directly from an IRA to qualifying charities. Those transfers are Qualified Charitable Distributions (QCDs). Thanks to the One Big Beautiful Bill Act (OBBBA), QCDs now protect even more ...

The One Big Beautiful Bill Act (OBBBA) permanently extended a harsh TCJA rule: no deduction for “miscellaneous itemized deductions,” including hobby expenses. That’s brutal for dog breeders, because the IRS often labels breeding as a hobby. Translati...

Short version: OBBBA adds a temporary, targeted deduction for tips. It’s not a universal “no tax on tips.” Many tipped amounts are still taxable, and payroll taxes still apply. Here’s the clean, CFO-level breakdown you can put in front of client...

We’ve heard the same questions you have: "Is Social Security closing?" "Are my benefits going away?" The short answer: no. What’s Actually Happening, no benefit cuts have been announced. Retirees and beneficiaries will continue to receive their month...

We often receive questions about record retention, so let's take a moment to clarify what you need to know. Overall, the Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This 'three-year law' l...

Repeal Dates of Various Energy Credits and Incentives CreditRepeal Date IRC §25E Previously Owned Clean Vehicle Credit Repealed for vehicles acquired after September 30,2025 (OBBA §70501; IRC §25D(g)) IRC §30D Clean Vehicle Credit Repealed for vehicl...

The One Big, Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, and with it comes many new tax provisions that may directly affect you. There are many tax provisions contained in OBBBA beyond the ones we have highlighted here.   Ext...

As required by law, in every Form 1040 instruction booklet there's a section that shows where our federal government gets its money and where it is spent. As taxpayers it makes sense to know this information. Here is the data for the government's fis...

BOI e-Filing Alert: A federal court order issued on February 19, 2025, has reaffirmed that businesses must file a Beneficial Ownership Information (BOI) report. The Corporate Transparency Act (CTA) and its BOI reporting ...

The IRS has issued 282 pages of proposed digital asset reporting regulations, along with official IRS explanation of the provisions, which cover a range of digital asset issues where there have been questions. Issues addressed include expansive definiti...