Tens of Millions Claimed New Tax Breaks — Did You Miss One?
Federal officials reported that more than 53 million individual tax return filers claimed at least one of the new tax benefits created by the One Big Beautiful Bill Act (OBBBA) …
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Waiting for 2027: How the OBBBA Tax Rules Can Slash Your Capital Gains Tax
Consider waiting for 2027 until you reinvest your capital gains. Why, you ask? The One Big Beautiful Bill Act (OBBBA) has fundamentally reshaped the tax-advantaged investment …
Is Your Medical Home Improvement Tax Deductible? A 2026 Guide
Considering a medical home improvement tax deduction? The rules can be cumbersome, but medically necessary home modifications can offer significant tax savings when documented …
Comprehensive Guide to 2025 Tax Law Changes: What Taxpayers Need to Know
When dealing with our current tax return preparation, you should be aware of significant 2025 tax law changes brought by the One Big Beautiful Bill (OBBBA) legislation. Also of …
Eldercare Can Be a Substantial Medical Deduction
As people are living longer now than ever before, eldercare is becoming more common. Many family members are serving as care providers for elderly loved ones who cannot live …
A Brief Look at Medical Tax Deductions for Home Improvements
As America’s population ages, many taxpayers are making home modifications to help prevent falls or accommodate age-related infirmities. While home improvements generally are not …
Tens of Millions Claimed New Tax Breaks — Did You Miss One?
Federal officials reported that more than 53 million individual tax return filers claimed at least one of the new tax benefits created by the One Big Beautiful Bill Act (OBBBA) enacted in mid‑2025. Treasury and IRS statistics released around Tax Day show heavy use of several headline provisions. However, an independent poll suggests some eligible …
Waiting for 2027: How the OBBBA Tax Rules Can Slash Your Capital Gains Tax
Consider waiting for 2027 until you reinvest your capital gains. Why, you ask? The One Big Beautiful Bill Act (OBBBA) has fundamentally reshaped the tax-advantaged investment landscape by making the Qualified Opportunity Zone (QOZ) program permanent. For taxpayers sitting on significant capital gains in 2026, the strategy for when to sell and reinvest has shifted …
Is Your Medical Home Improvement Tax Deductible? A 2026 Guide
Considering a medical home improvement tax deduction? The rules can be cumbersome, but medically necessary home modifications can offer significant tax savings when documented properly. The year 2025 marked a significant milestone in the United States. Why? A record number of people reached the age of 65 this year. On average about 11,400 Americans turned 65 …
Comprehensive Guide to 2025 Tax Law Changes: What Taxpayers Need to Know
When dealing with our current tax return preparation, you should be aware of significant 2025 tax law changes brought by the One Big Beautiful Bill (OBBBA) legislation. Also of some delayed effective dates from other legislation. These changes are poised to impact various taxpayer categories, affecting both individual and business tax returns. Navigating these changes …
Eldercare Can Be a Substantial Medical Deduction
As people are living longer now than ever before, eldercare is becoming more common. Many family members are serving as care providers for elderly loved ones who cannot live independently. Such individuals often have questions regarding the tax ramifications associated with the cost of such care. For these individuals, the cost of such care may …
A Brief Look at Medical Tax Deductions for Home Improvements
As America’s population ages, many taxpayers are making home modifications to help prevent falls or accommodate age-related infirmities. While home improvements generally are not tax-deductible, a medical expense deduction for medically necessary home modifications may be claimed for costs that exceed any resulting increase in the home’s value. To benefit, the taxpayer must itemize deductions …
Payroll Tax Debt: A Business Owner’s Worst Nightmare
Payroll Tax Debt is no joke. A slow quarter? You can recover from that.A late income tax payment? There are payment plans.Vendor pressure? Negotiable. But payroll tax debt? That’s different. If your business is behind on payroll taxes, you’re in one of the most aggressively enforced areas of IRS collections. And the longer it goes …
Avoid the Postal Service Drop Boxes For Mailing Your Tax Return
Planning on mailing your tax return to the IRS? You may want to rethink your drop off routine! For decades, taxpayers have relied on a simple principle known as the “Mailbox Rule.” Formally enshrined in Internal Revenue Code Section 7502, this rule states that “timely mailing is timely filing”. This meant if you drop your return …
Charitable Giving in 2026: Navigating New Tax Laws and Maximizing Your Gift’s Impact
As the landscape of charitable giving in 2026 continues to evolve, there are significant changes in the tax treatment of donations. For both itemizers and non-itemizers, understanding the new rules is crucial to maximizing the benefits of charitable contributions and ensuring compliance with tax obligations. Among the key changes are new guidelines for non-itemizers wishing …