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 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...
by Tabitha Regan, CPA | Oct 4, 2024 | Small Business, Tax Planning
Understanding and utilizing business tax credits is crucial for small business owners looking to optimize their tax strategy in 2024. These small business tax credits, ranging from green energy incentives to employer credits and state-specific opportunities, can...
