Background Discussion Qualified Tuition (529) Plans were established in 1996 to provide families with tax-advantaged savings accounts for college. In addition to a possible state tax deduction for the contribution,…
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For 2025 through 2028, individuals age 65 or older generally can claim a new “senior” deduction of up to $6,000 under the One Big Beautiful Bill (OBBB). But an income-based…
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Approximately 1.3 million Americans live in nursing homes, according to the National Center for Health Statistics. If you have a parent moving into one, taxes are probably not on your…
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When it comes to building and growing a business, founders and investors are always looking for opportunities to maximize investment and protect long-term gains. One of the most powerful—but often…
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For many taxpayers, receiving a letter from the IRS can feel intimidating. The envelope arrives with the IRS seal, and immediately, worry sets in: Did I make a mistake? Am I…
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Among its numerous tax provisions, the One Big Beautiful Bill (OBBB) reinstated immediate deductions for research and experimental (R&E) expenditures under Internal Revenue Code Section 174, beginning in 2025. The IRS…
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