Article Highlights: New Charitable Giving for Non-Itemizers New AGI Floor for Itemizers Cash Contribution AGI Limitation Made Permanent Phaseout of Itemized Deductions Strategic Charitable Giving in 2026 Charitable Giving Documentation: What You Need to Know in 2026 Documentation for Cash Contributions Documentation for Non-Cash Contributions Common Pitfalls to Avoid As the landscape of charitable giving […]
March 2026 Individual Due Dates March 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during February, you are required to report them to your employer on IRS Form 4070 no later than March 10. You can use IRS Form 4070 or […]
For several years, student loan borrowers lived in a holding pattern. Payments were paused. Collections slowed. Consequences felt distant. That pause is ending. As reported by CNBC, federal agencies have resumed collection efforts on defaulted student loans, bringing wage garnishments, tax refund offsets, and renewed enforcement back into focus for millions of borrowers with significant […]
Ask a business owner how things are going, and you’ll usually hear the same answer first: “Revenue’s up.” That sounds like good news. And sometimes it is. But there’s a number hiding underneath revenue that tells a very different story. One that quietly determines whether a business is actually healthy or just busy. That number […]
Lately, it feels like everyone is talking about moving for tax reasons. Lower income taxes. Friendlier states. A fresh start that supposedly comes with a smaller tax bill. And on the surface, it sounds simple. You move. Your taxes go down. Done. Except… that’s rarely how it works. Before boxes are packed or homes are […]
Article Highlights: Why Form 1099-K Was Created Understanding the Purpose of Form 1099-K What It Means for Income Reporting Cash Income Application in Various Situations Selling Personal Items Side Hustles and Gig Economy Business Operations Common Challenges and Solutions Steps for Compliance In recent years, the financial landscape has seen tremendous shifts, with rising participation […]
Article Highlights: Ghost Preparers PTIN Requirement Signing the Return Preparation to Boost Refund Taxpayer Left Holding the Bag Misdirection Regarding Tax Law Changes How to Report Ghost Preparers Professional Tax Preparation As people begin to have their 2025 tax returns prepared, this is a reminder to avoid unethical “ghost” tax return preparers. A ghost preparer […]
Article Highlights: Awareness Seniors Are Frequent Targets How to Spot a Scam Common Phishing Emails Common Smishing Texts How to Protect Yourself Social Media Tax season is a busy time for taxpayers. It is also a busy time for criminals as they ramp up efforts to trick people into sharing sensitive personal information. Identity thieves […]
Article Highlights Standard Deductions Increased New Senior Deduction Qualified Sound Recording Production Expenses Required Minimum Distributions (RMD) No Tax on Tips No Tax on Qualified Overtime New Vehicle Loan Interest Deduction Adoption Credit Changes Child Tax Credit Increase Environmental Tax Credits Sunset Qualified Small Business Stock Gain Exclusion SALT Deduction Limit Increase Expensing Research or […]
February 2026 Individual Due Dates February 2 – Individuals Who Must Make Estimated Tax Payments If you didn’t pay your last installment of estimated tax by January 15, you may choose (but aren’t required) to file your income tax return (Form 1040 or Form 1040-SR) for 2025 by February 2. Filing your return and paying […]