How the One Big Beautiful Bill Act Transforms R&E Tax Strategies for Businesses

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Article Highlights: One Big Beautiful Bill Act What Constitutes R&E Expenses R&E Expensing– A Short History R&E Expensing After the OBBBA Domestic vs. Foreign Differentiation Options to Accelerate Expenses…

Tax Ramifications for Scam Victims

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Article Highlights: Transactions With a Profit Motive Eligibility Criteria for Profit-Driven Casualty Losses Profit Motive Type of Transaction Nature of Loss Application of IRS Guidance Some Not So Good Tax Ramifications …

Tax Time is Around the Corner! Are You Ready?

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Article Highlights: Time to Gather Your Information New for 2025 Choosing Your Alternatives Tips for Pulling Your Information Together Tax time is just around the corner, and if you are like most taxpayers, you are probably…

IRS Shifts to Paperless Refunds: What This Might Mean for You

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Article Highlights: Executive Order The Impetus Behind the Transition Challenges Facing Unbanked Taxpayers Proposed Solutions and Alternatives In a move set to redefine the refund process, the Internal Revenue Service (IRS),…

Exploring Tax Opportunities to Pay Off Student Loans

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Article Highlights: Qualified Tuition Plans Employer Payments Paying Principal vs. Interest Public Service Loan Forgiveness Income-Driven Repayment Plans State-Level Programs Death or Disability Forgiveness Paying off…

The IRS Just Got Leaner—But Not Softer on Enforcement

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The IRS is going through what you might call an identity crisis. Thousands of employees have been laid off right in the middle of tax season, including auditors, tech staff, and even customer service reps. Throw in yet another commissioner swap…

Occupations Qualified for Tip Deduction Released

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Article Highlights: Draft List of Occupations: Beverage & Food Service Entertainment and Events Hospitality and Guest Services Home Services Personal Services Personal Appearance and Wellness Recreation and…

Got an IRS Notice? Here’s How to Handle It Without Losing Sleep

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Few things can rattle a business owner faster than seeing “Internal Revenue Service” on an envelope. The instinct is to panic. But the truth? An IRS notice doesn’t automatically mean you’ve done something wrong. In 2025, notices are…

Understanding the New Above-the-Line Tax Deduction for Qualified Tips

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Article Highlights: Prior Law on Tip Reporting and Employer Requirements Introduction of the Above-the-Line Deduction for Qualified Tips Above-the-Line Deductions Qualified Tips Definition Tips in Business Operations When…

Think the IRS Is Slowing Down? Why That Might Actually Increase Your Audit Risk

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You’ve probably seen the headlines: “IRS funding slashed.” “Audit rates down.” “Staffing cuts.” If you’re a business owner, investor, or part of a high-earning household, you may be thinking: Finally, some breathing room. But…