The start of a new year brings updated tax-related figures that businesses should keep in mind. Below is a summary of the key numbers for 2026. Note that exceptions, special rules, or additional limits may […]
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Beginning in 2026, more individuals with disabilities will be eligible to open tax‑advantaged ABLE accounts. These accounts, similar to Section 529 college savings plans, allow families and individuals to save for qualified disability expenses while […]
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An S corporation offers the tax advantages of a partnership combined with the liability protection of a corporation. However, strict IRS requirements mean that maintaining S corporation status requires careful attention and ongoing compliance. Benefits […]
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Significant updates to charitable contribution rules will take effect in 2026, impacting how both itemizers and nonitemizers claim deductions. While some taxpayers will face new limits, others — particularly those who take the standard deduction […]
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If your business employs workers or engages independent contractors, you have annual information reporting responsibilities. The One Big Beautiful Bill Act (OBBBA) introduces changes affecting these rules, but these will not take effect until the […]
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You likely have a lot of items on your to-do list as the year winds down—holiday shopping, charitable giving, and family gatherings. But for older taxpayers and those who have inherited retirement savings, one task […]
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Businesses can generally deduct interest paid or accrued for federal tax purposes, but limits apply. Starting in 2025, changes under the One Big Beautiful Bill Act (OBBBA) will allow larger deductions for many taxpayers. Understanding […]
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December doesn’t mean you’ve missed your chance to lower your tax bill. By acting before December 31, you can still take advantage of several year-end strategies to reduce your 2025 liability. Defer Income and Accelerate […]
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Year-End Tax Planning Made SimpleParagraph: While tax planning throughout the year delivers the best results, there are still valuable steps you can take in December to reduce your 2025 tax bill. Here are six practical […]
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