An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under
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CategoryIndividual Tax Alerts
If you itemize deductions on your 2025 individual income tax return, you potentially can deduct donations to qualified charities you made last year. But your
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A new tax-advantaged way to help children build up savings for the future was created by the One Big Beautiful Bill Act (OBBBA): Trump Accounts
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The IRS is opening the filing season for 2025 individual income tax returns on January 26. This is about the same time as when the
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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.
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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
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The One Big Beautiful Bill Act (OBBBA) creates a new type of tax-advantaged account for eligible children. Section 530A accounts, also known as “Trump accounts,”
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Beginning in 2026, individuals who itemize deductions and donate to charity will face a new limit on their charitable deductions. And in some cases, they’ll
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The One Big Beautiful Bill Act (OBBBA) creates new income tax deductions for tax years 2025 through 2028 for qualified cash tips and overtime compensation.
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You likely have a lot of things to do between now and the end of the year, such as holiday shopping, donating to your favorite
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If you have a flexible spending account (FSA) through your employer to help pay for health or dependent care expenses, now’s a good time to
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The 2026 Social Security wage base has been released. What’s the tax impact on employees and the self-employed? Let’s take a look. FICA tax 101
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