The April 15 Deadline Applies Beyond Your Income Tax Return
April 15, 2026 is the 2025 federal income tax return due date, but that’s not the only item with the April 15 deadline. If you don’t catch it, you could
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Category: Tax
Forfeited Employee FSA Balances: Know The Basics
As part of their employee benefits packages, many businesses offer health care and dependent care flexible spending accounts (FSAs). For employees, these plans provide valuable tax savings. For employers, these
Pay Attention To These Deductible Interest Expenses
Generally, for federal tax purposes, personal interest expense can’t be deducted, but there are exceptions. These four types of deductible interest expenses are discussed below; one of which was created
Business Vehicle Tax Deduction Basics
You may be eligible for valuable tax deductions on your 2025 income tax return if you used one or more vehicles in your business during 2025. Business use of a
Dependent Tax Credits: Claim What You’re Entitled To
When you raise a family, you are met with many different expenses. But, it also makes you eligible for different tax breaks. The most valuable of these are dependent tax
Tax Deferral For Advanced Payments
When a business receives advance payment, they are paid before they provide whatever is being paid for. Advanced payments generally must be reported as taxable income in the year they
Standard Deductions Vs. Itemizing Deductions: Which Method Is Right For You?
When filing your individual income tax return, an important consideration is whether to claim the standard deduction of itemize deductions. The One Big Beautiful Bill Act (OBBBA) made change that
Claiming Depreciation Deductions On Your 2025 Tax Return
The 2025 filing deadlines for tax returns and extensions are fast approaching. And while most tax planning moves need to be completed by December 31, there are some decisions that
Selecting The Right Filing Status As A Married Couple
If you’re married, you have a choice when filing your 2025 federal tax income: Filing joint or filing separately. What filing status as a married couple you choose will affect
What Are The Advantages Of The Health Care Coverage Tax Credit For Your Business?
Tax liability can be reduced dollar-for-dollar by tax credits. This makes them more valuable than deductions as deductions reduce only the amount of income subject to tax. Providing health insurance