by Anandi Seetharaman | Feb 4, 2025 | Individual Tax, Tax Planning
The tax year 2024 adjustments apply to income tax returns filed in 2025. Revenue Procedure 2023-34 provides detailed information about these annual adjustments. The main highlights and most important changes changes are listed below. The Standard Deduction The...
by Blessing Obasuyi | Jan 28, 2025 | Tax Planning, Technology
There are new upcoming digital asset tax regulations in 2025 that all investors dealing in things like bitcoin or Doge should be aware of. In December 2024, the US Treasury announced that brokers (specifically decentralized finance or DeFi brokers) will be responsible...
by Laxmi Patel | Jan 8, 2025 | Individual Tax, Small Business, Tax Planning
The Tax Cuts and Jobs Act (TCJA) of 2017 aimed to stimulate economic growth. Key provisions from the TCJA are set to expire on December 31, 2025 that will impact individuals. These provisions include capped deductions for state and local taxes (SALT) at $10,000,...
by Stephanie Nolan | Nov 4, 2024 | Individual Tax, News, Small Business, Tax Planning
If you have been affected by Hurricane Helene, Hurricane Milton, or another recent federally declared major disaster, you may be relieved to hear that over the past few years, it has become easier to access your work-based retirement plan and IRA money. Following is a...
by Tabitha Regan, CPA | Oct 25, 2024 | Individual Tax, Tax Planning
Georgia has tax credit programs in place for Georgia residents to re-direct their tax dollars to programs of their choice. Tax credits give you a “dollar for dollar” benefit which means a $1 tax credit is equivalent to paying $1 in Georgia taxes. Review our tax credit...
by Stephanie Nolan | Oct 23, 2024 | Individual Tax, Tax Planning
When it comes to supporting a cause, understanding the difference between “sponsorships vs. charitable contributions” is essential, especially when considering the tax implications. While both sponsorships and donations can provide valuable support to...
