Tax Blog

We’d like to share another helpful update from the One Big Beautiful Bill Act (OBBBA) that may benefit many seniors.   If you or your spouse are age 65 or older by the end of the tax year, you may qualify for a brand-new deduction. How Much Is the Deduction? $6,000...

Good afternoon, We wanted to share an important tax update that may benefit many of you who earn tips. A new rule under the One Big Beautiful Bill Act (OBBBA) allows you to deduct certain cash tips from your taxable income for tax years 2025 through 2028 — even if you...

Here’s another helpful update under the One Big Beautiful Bill Act (OBBBA), and this one may benefit anyone planning to purchase a new personal vehicle in the next few years. For tax years 2025 through 2028, you may be able to deduct the interest paid on a qualifying...

As we gear up for the 2025 tax season, we’re excited to introduce our new newsletter series designed to help you stay informed of important tax changes, and prepared for planning opportunities.  As a small, locally-owned firm, we value the trust you place in us. Our...

As recovery efforts are underway for victims of the devastating wildfires in Hawaii, the Internal Revenue Service is moving to give survivors one less thing to worry about. The agency has launched its tax relief package for victims in Maui and Hawaii counties that basically delays an array of federal individual and business tax deadlines until February 15, 2024. Read more from Bob William’s article in our latest blog post.… Read more about Hawaii Wildfire Victims Get Tax Relief from IRS (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…