Why the ‘Line’ on Your Tax Return Matters More Than You Think!
During the lengthy debate over provisions of the One Big Beautiful Bill Act, we often heard tax deductions described as “above-the-line”...
Charitable Deduction Denied—Court Questions Credibility of Donor’s Proof！
Tax law permits taxpayers to deduct donations to qualified charities, but the donor must be able to prove the donation. For cash gifts of...
Businesses: Watch Out for New Limits on Charitable Write-Offs!
One of the changes made by the One Big Beautiful Bill Act is to the tax treatment of charitable donations made by corporations. For tax...
Taxpayer Owes Tax on Disputed Employer Shares, Court Rules!
In a recent case, the U.S. Tax Court ruled that a taxpayer must include the value of employer stock in gross income reported to the IRS....
Tax Break Alert: Child & Dependent Care Credit Explained!
Did you send your child to day camp this summer? You may be able to offset some of the costs by claiming the Child and Dependent Care Tax...
IRS Issues Guidance on Beginning Construction for Renewable Energy Credits!
The One Big Beautiful Bill Act eliminates the Clean Electricity Investment Credit (Sec. 48E) and the Clean Electricity Production Credit...
NIL Income: What Student Athletes Need to Know About Taxes!
Student athletes will soon head back to school, and some will earn income from the use of their name, image, and likeness (NIL). This...
Venmo, PayPal & Taxes: What You Need to Know About 1099-Ks!
Do you use a cash app for nonbusiness payments? It could be Venmo, PayPal or another cash payment app. If so, pay attention. Nonbusiness...
Your Medical Bills Could Mean Tax Savings — If You Qualify!
Did you know that you may qualify for a tax deduction if you’ve incurred unreimbursed medical expenses that exceed 7.5% of your adjusted...
Heavy Highway Vehicle Tax: Sept. 2 Deadline for July First Use!
If your business operates vehicles with a gross weight of 55,000 pounds or more on public highways, it’s important to understand the...
