Nov 4, 2025 | Accounting & Audit Updates, Tax News
You will want to prepare your financial statements in accordance with an accounting framework that’s appropriate for your business. Most of the time, you’ll opt for a CPA to produce your financial statements. Getting an accountant’s blessing is...
Oct 28, 2025 | Estate Planning, Personal Financial Planning, Tax News
The OBBBA includes several provisions that affect how individuals can deduct charitable contributions on their federal income tax returns. These changes influence both annual tax filings and estate planning decisions. Perhaps the most significant update is that the...
Oct 23, 2025 | Business Planning, Tax News
The at-risk limitations are the result of Congress’ concern that taxpayers were deducting losses from tax-sheltering activities far in excess of their economic amount at risk in the activities. The thrust of the rules is that you can deduct losses only to the...
Oct 14, 2025 | Business Planning, Tax News
Sales taxes are levied by percentage on finished products at the point of sale, but the rules and rates can vary significantly by jurisdiction. Only four U.S. states — Delaware, New Hampshire, Montana and Oregon — have no sales tax. Alaska has no statewide sales tax...
Oct 7, 2025 | Personal Financial Planning, Tax News
The One Big Beautiful Bill Act, signed in July, creates a special tax break for Americans age 65 and older. It provides a deduction worth up to $6,000 a year in tax years 2025 through 2028. To claim it, you must: Turn 65 or older by the end of the tax year. File a...
Oct 2, 2025 | Personal Financial Planning, Tax News
There may be circumstances under which you would want to move assets from a traditional IRA to a Roth IRA. A Roth IRA conversion can be made even if your current income makes you ineligible for direct contributions to a Roth IRA. Roth IRAs are attractive because they...
