Making the Most of the New Deduction for Seniors
For 2025 through 2028, individuals age 65 or older generally can claim a new “senior” deduction of up to $6,000 under the One Big Beautiful Bill Act […]
5 Potential Breaks to Know Before Moving a Parent into a Nursing Home
Approximately 1.3 million Americans live in nursing homes, according to the National Center for Health Statistics. If you have a parent moving into […]
Understanding the Most Common IRS Notices
For many taxpayers, receiving a letter from the IRS can feel intimidating. The envelope arrives with the IRS seal, and immediately, worry sets in: Did I make […]
The Power of Catch-Up Retirement Account Contributions After 50
Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s). And these contributions […]
Payroll Tax Implications of New Tax Breaks on Tips and Overtime
Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new […]
Teachers and Others Can Deduct Eligible Educator Expenses This Year . . . and More Next Year and Beyond
At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school […]
IRS Lists FAQs on Expiration of Energy Credits and Deductions under OBBBA
As appearing in IRS Fact Sheet 2025-5
These FAQs are being issued to provide general information to taxpayers and tax professionals […]
Teacher Funded Classroom Costs Can Be Offset with Educator Expense Deduction
As appearing in IRS Tax Tip 2025-58
With back-to-school, comes potential out-of-pockets costs for educators. The Educator Expense Deduction […]
OBBBA 2025: Tax Deductions for Working Americans and Seniors
As appearing in IRS Fact Sheet FS-2025-03
Below are descriptions of new provisions from the […]
Bullet Point OBBBA Changes Impacting Individuals
The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025. The Act is comprehensive and includes key changes to individual-related provisions and […]
