The IRS recently issued new guidance clarifying how the permanent 100% bonus depreciation deduction will work moving forward. This allows businesses to fully deduct the cost of qualified property in...
Trump Accounts are a new type of tax-advantaged retirement account for children, created under 2025 legislation and clarified by recent IRS guidance. While contributions can't begin until mid-2026, families can...
The One Big Beautiful Bill (OBBB) Act, which takes effect for the 2025 tax year, changes how tips are taxed, and many business owners and employees are likely to have...
2026 Social Security COLA Increase Social Security beneficiaries will see a 2.8% cost of living adjustment (COLA) beginning January 2026, increasing monthly benefit payments for tens of millions of recipients. Why the...
Authored by Ty Holman When a business or organization is asked to provide financial statements, a common follow-up question is whether those statements must be audited. The answer depends largely on...
As we move into tax season, we’d like to share a few important reminders to help ensure your returns are prepared on time. Important Timing Reminder To meet filing deadlines and allow...
For most people, tax season brings a quiet panic about what they might be forgetting and a last-minute rush to pull everything together before the deadline. But it doesn't have...
A new IRS provision allows certain lenders to exclude 25% of interest income from loans secured by agricultural property, potentially saving thousands in taxes annually. The temporary guidance under Section...