Do you have a state tax strategy?

Minimizing federal tax is just one segment of any tax-reduction strategy. Careful planning can also help individuals reduce (and even eliminate) state income, sales or property taxes. For example, if you’re able to, you might consider moving to a state that doesn’t tax income (multiple, including Florida and Nevada) or that charges no sales tax […]

2026 tax dates for individuals

Who must pay a Social Security tax?

Who must pay a Social Security tax? Test your knowledge.

IRS releases proposed regulations on clean fuel production credit

The IRS has proposed regulations regarding the clean fuel production credit (https://bit.ly/4kctoAO). The regs are intended to explain how clean transportation fuel makers can claim the $1-per-gallon tax credit. Created by the Inflation Reduction Act and commonly called the “45Z rule,” the credit was amended by the One Big Beautiful Bill Act (OBBBA). Among other […]

Get a Identity Protection Personal Identification Number

Before filing your 2025 income tax return, consider obtaining an Identity Protection Personal Identification Number (IP PIN). Having an IP PIN can help safeguard your tax identity. Issued by the IRS, this unique six-digit number helps prevent criminals from filing a fraudulent tax return using your Social Security number. It’s valid for one year and […]

Did the partial shutdown impact tax filings?

With the federal government recently partially shut down, you may be wondering about the effects on the IRS just as tax season opened on Jan. 26. Under a contingency plan, the IRS will use supplemental funding from the Inflation Reduction Act to keep its full staff on the job. According to the IRS, taxpayers can […]

IRS releases guidance on changes to R&E expensing

Among its numerous tax provisions, the One Big Beautiful Bill Act (OBBBA) reinstated immediate deductions for research and experimental (R&E) expenditures under Internal Revenue Code Section 174, beginning in 2025. The IRS has recently issued transitional guidance (Revenue Procedure 2025-28) on how this change will be implemented. The guidance addresses several critical issues. Here’s what businesses of […]

Sell Digital Assets?

A reminder from the IRS: If you used a broker to sell or dispose of digital assets such as cryptocurrency or nonfungible tokens (NFTs) after Jan. 1, 2025, you might receive Form 1099-DA, “Digital Asset Proceeds From Broker Transactions,” this tax season. Brokers must report the gross proceeds from certain transactions to both taxpayers and […]

Missing a W-2 or 1099?

Missing a W-2 or 1099 this tax season? If your Form W-2 or Forms 1099 aren’t available by the Feb. 2, 2026, deadline for most of these forms, or if the information is incorrect, contact your employer or the payer. If you still don’t receive the missing or corrected form by the end of February, […]