Dec 12, 2024 | Personal Financial Planning, Tax News
The following is not a comprehensive list of all changes, but a summary of key adjustments that will affect a wide range of taxpayers: Standard deductions. For single taxpayers and married individuals filing separately for tax year 2025, the standard deduction rises...
Dec 10, 2024 | Business Planning, Tax News
As reported in the National Law Review: “On December 3, 2024, a Texas-based federal court issued a sweeping order prohibiting the federal government from enforcing the Corporate Transparency Act (CTA) anywhere in the country.” This much-debated law imposed...
Dec 5, 2024 | Featured News and Events, Tax News
On November 7, 2024, for the first time, the Internal Revenue Service (IRS) has made available a form on which elections under Section 83(b) of the Internal Revenue Code may be made. The new Form 15620, Section 83(b) Election, provides a standardized method for...
Dec 2, 2024 | Personal Financial Planning, Tax News
If you make any mistakes on your tax return, you can end up owing even more money. This means you might miss out on the full refund you claimed. From interest and penalties to an audit from the IRS, tax-related issues on your return can open the door to many...
Nov 26, 2024 | Business Planning, Personal Financial Planning
Crowdfunding to raise money through websites? If you’ve been soliciting contributions to fund a business or for charitable donations or gifts, you may be required to report distributions of the money raised by filing Form 1099-K, Payment Card and Third-Party Network...
