Employers, including small businesses, that provide paid family and medical leave to their employees may be eligible for an employer tax credit. Several enhancements have been made to this credit under the Working Families Tax Cuts. Here’s an overview of Read more…
There are several kinds of major life events that can affect your income tax requirements, tax benefits and withholding. It could be marriage, welcoming a new child, divorce, or loss of a loved one — all of these can impact Read more…
Mid-summer is usually a quiet time for tax preparation, which makes it a great time to do a quick check and make sure you’re on a smooth track to next filing season. Here are some tips: Keep good tax records. Read more…
The Internal Revenue Service announced that 27 states have elected to participate in the Federal Scholarship Tax Credit (FSTC) program, which enables eligible taxpayers to claim a federal tax credit for qualified contributions to Scholarship Granting Organizations (SGOs) providing scholarships Read more…
Many people have hobbies – things they enjoy doing in their spare time – and some even make a little extra money from them. But there’s a difference between a hobby and a business, especially in how each is treated Read more…
Even though the tax filing deadline for tax year 2025 passed a couple weeks ago, it’s not too early to start planning for next year so that you can avoid any unpleasant surprises. One easy thing you can do is Read more…
If you missed the April 15 filing deadline, you should submit your federal tax return as soon as possible. If you missed the deadline to file and owe taxes, it is important to file as soon as possible to avoid Read more…
The Department of the Treasury and the Internal Revenue Service has issued final regulations on the “No Tax on Tips” provision. The One, Big, Beautiful Bill final regulations provide the list of occupations that receive tips and define “qualified tips” Read more…
The Department of the Treasury and the IRS have issued proposed regulations providing general requirements for Trump Accounts, certain definitions relating to Trump Accounts, election rules to open an initial Trump Account by an authorized individual for an eligible individual, Read more…
The Internal Revenue Service published, for tax year 2025, a new schedule that you can use to take advantage of some tax benefits provided the “One, Big, Beautiful Bill” (OBBB), including no tax on tips, no tax on overtime, no Read more…