Every year, severe storms, flooding, wildfires and other disasters affect millions of taxpayers. Many experience casualty losses from damage to their homes or personal property. The One Big Beautiful Bill…
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Many tax figures are annually adjusted for inflation and typically increase each year (or at least every few years). For 2026, some additional changes are going into effect under the…
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The rules for charitable deductions will change starting in 2026, reducing the tax value of giving for high-income households. If you’re considering major charitable gifts, 2025 offers the last year under the…
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The One Big Beautiful Bill (OBBB) creates a new type of tax-advantaged account for eligible children. Section 530A accounts, also known as “Trump accounts,” can be established for children under age 18…
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As year-end approaches, many business owners are reviewing whether their current business structure continues to support their financial and operational goals. For some, electing S-Corporation status may offer meaningful tax…
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The 2025 tax reform legislation, One Big Beautiful Bill (OBBB), introduced important changes that affect how many taxpayers calculate their deductions. One of the most significant updates is the temporary expansion of…
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