Tax Tips for Marriage Status Changes
Your tax filing status generally depends on being married or unmarried on the last day of the year – which means that […]
IRS Increases Standard Mileage Rate in 2025
The IRS has announced that the optional standard mileage rate for automobiles driven for business will increase by 3 cents in 2025, […]
Beware of Fraudulent “Charitable LLC” Schemes
IRS officials have warned taxpayers to avoid promoters of fraudulent tax schemes involving donations of ownership interests in closely held businesses, sometimes […]
Save for Retirement Now, Get a Tax Credit Later
Low- and moderate-income taxpayers can save for retirement now and possibly earn a tax credit in 2025 and future years thanks to […]
Form 1099-K Threshold Set to $5,000 for 2024
The IRS has announced a change to the requirements that third-party settlement organizations (TPSOs), also known as payment apps and online marketplaces, […]
2024 Qualified Charitable Distribution Reminder
The end of the year is fast approaching, and with it come a few deadlines that you should consider. If you are […]
Inflation Adjustments for 2025
The Internal Revenue Service recently announced updates to several amounts that are updated annually for inflation. The tax year 2025 adjustments described […]
401(k) and IRA Limit Increases in 2025
The Internal Revenue Service recently announced that the annual contribution limit for employees who participate in 401(k), 403(b), governmental 457 plans, and […]
More ERC Forgiveness
The IRS has opened a second round of the Employee Retention Credit Voluntary Disclosure Program (or “ERC VDP”) for businesses who may […]
Tax Treatment of Crowdfunding
Crowdfunding is a method of raising money through websites by soliciting contributions from a large number of people. The contributions may be […]