Category: Personal Finance
Protecting Yourself Against Tax Scams and Identity Theft
Tax-related scams continue to rise, and criminals are finding new ways to target taxpayers during filing season. Fraudsters often use texts, emails, or phone calls that appear to come from the IRS or a state tax authority. These messages may...
2025 Year-End Tax Tips: New Rules, Fresh Strategies
As 2025 winds down, it is more important than ever to revisit your tax strategy. The One Big Beautiful Bill Act (OBBBA), signed into law earlier this year, brought a sweeping overhaul to the tax code. With many changes already...
Tips and Overtime Deductions: A New Tax Break for Workers
The One Big Beautiful Bill Act, signed into law on July 4, 2025, introduces a pair of new tax deductions aimed at workers who earn tips and overtime pay. While most headlines have focused on business credits and energy reforms,...
IRS Services Slowed, But Your Deadlines Still Stand
The federal government has been shut down for over a month, and the effects are rippling across many agencies, including the IRS. While the agency is currently operating with limited staff and reduced services, one thing remains unchanged: your tax...
What the New SALT Cap Rules Mean for Businesses and Taxpayers
The One Big Beautiful Bill Act (OBBBA) makes several adjustments to the state and local tax (SALT) deduction. For those who itemize deductions, especially in higher tax states, the changes may offer some short-term benefits. However, they also come with...
What the One Big Beautiful Bill Act Means for Individuals and Businesses
The One Big Beautiful Bill Act (OBBBA), now just over one month fresh into law, is full of tax code changes that could have major implications for individuals and business owners. With over 90 provisions packed in, it touches everything...
Federal Government Shifts to Mandatory Electronic Payments
In March 2025, President Trump signed Executive Order 14247, initiating a major transformation in the way the federal government handles payments. Beginning on September 30, 2025, all payments made by the federal government, including tax refunds, Social Security benefits, and...
Tax Implications of Repaying a Bonus
Tax Implications of Repaying a Signing or Performance Bonus Receiving a signing or performance bonus can be an exciting benefit of your job, but what happens if your employment ends prematurely, and you are required to repay that bonus? The...
Attention Small Businesses and Freelancers: 1099-K Filing Changes Are Here
Changes to 1099-K Filing: What You Need to Know In recent years, the IRS has implemented stricter reporting requirements to help reduce underreported income. For 2024, the threshold for receiving a 1099-K has been updated to $5,000 in payments for...
8 Year End Tax Tips
With year-end fast approaching, it is essential to focus on key deadlines and financial strategies that may affect your tax position. Taking timely action on these matters can help you optimize deductions, minimize liabilities, and close the year on a...