The Tax Cuts and Jobs Act (TCJA) was enacted in 2017 with many temporary tax provisions taking effect in the 2018 tax year. As we approach the 2025 tax year and look forward to the 2026 tax year,...
The end of the year is always a busy time, especially for those preparing for the hustle and bustle of the holiday season. However, this is also a good time to start thinking ahead to tax season,...
According to the Education Data Initiative, the average cost of college isaround $38,000per student per year, including books, supplies, and daily living expenses. Many parents may turn to a...
Charitable organizations can take advantage of provisions in the tax code that exempt them from federal income tax and other types of tax obligations. This leaves charitable organizations free to...
Although it may seem like tax season only just ended, the end of summer is an ideal time for taxpayers to review their own income and withholding for the upcoming tax year. All too often, taxpayers...
Many business owners may be aware of pass-through deduction but lesser of them may realize that they can utilize eligible retirement contributions to potentially gain a huge tax advantage on...
Federal tax credits are designed to reduce tax burdens for certain expenses, and there are many potential tax credits for which a person or business may be eligible.
Across the country and across many industries, there is an ongoing need to innovate. Of course, coming up with the next big thing often requires a great deal of investment, time, research and...
The Employee Retention Credit (ERC) was a refundable tax credit developed during the COVID-19 pandemic to aid businesses and tax-exempt organizations that continued paying employees if their...
The New Markets Tax Credit (NMTC) was established in 2000. The credit has been used to incentivize investors to finance and start projects in low-income communities. New investments in these areas...