What Do The New Trump Accounts Mean For Children?
The One Big Beautiful Bill Act created a new tax advantaged way to help children build up savings for the future: Trump Accounts (TA). For U.S. citizen children born between
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Category: Tax
Are You A Business Owner or Self Employed? A SEP Could Lower Your 2025 Taxes.
Before you file your 2025 tax return, consider setting up a tax-advantaged retirement plan if you own a business or are self-employed and haven’t already done so. You could potentially
USPS Postmark Rule Changes: What They Mean for Tax Filing Deadlines
Key Takeaways Effective December 24, 2025, the USPS now defines the postmark date as the date of first automated processing, not the mail drop-off date. Tax filings and payments must
Important 2025 Tax Filing Information For Individuals
On January 26, the IRS is opening the filing season for 2025 individual income tax returns. Although IRS staffing has been significantly reduced since last year, this is about the
Be Prepared For The Upcoming February 2 Tax Deadline
Every year by January 31, businesses must provide certain information to workers and submit it to the federal government. This year, however, January 31 falls on a Saturday, so the
What Medical Expenses Are Deductible?
You may be wondering, if you had significant expenses last year, what medical expenses are deductible on your 2025 income tax return. It can be difficult to claim the medical
Important Tax Filing Update For Pass-Through Entities
Partnerships, limited liability companies (LLCs) treated as partnerships for tax purposes, or S corporations are considered “pass-through” entities in tax lingo. This is because their taxable income items, tax deductions,
Casualty Loss Tax Deduction For Disaster Victims
Severe storms, flooding, wildfires, and other disasters affect millions of taxpayers every year. Across the country, taxpayers experience casualty loss as a result of damage to their homes or personal
Tax Deductible Business Expenses: What Qualifies For 2025?
Now is a good time for businesses to begin gathering information about their tax deductible business expenses for 2025, with the year now in the rear view mirror and the
Individuals: New Tax Figures For 2026 To Note
Typically, many tax figures are annually adjusted to account for inflation, meaning they often increase from year to year, or at least every few years. Under the One Big Beautiful