Taxes on travel

If you traveled for the holidays, you probably also payed additional federal taxes and fees. For example, the price of airline tickets typically includes a 7.5% excise tax, a $5.60 September 11 Security Fee and a Passenger Facility Charge of up to $4.50 for travel through certain airports. Depending on your destination, you might also […]

Holiday sales have impact on government tax collections

Most people know that holiday retail sales are important to state and local governments that rely on the collection and remittance of sales tax in their jurisdictions. But the success of the holiday shopping season also impacts federal tax collections, albeit indirectly. When businesses enjoy a profitable period, they generally owe more income tax. Plus, […]

President Trump signs executive order to expedite rescheduling of cannabis

On Dec. 18, 2025, President Trump signed an executive order to expedite the rescheduling of cannabis from a Schedule I to a Schedule III drug. Although this action wouldn’t legalize marijuana on the federal level, rescheduling will have significant tax implications for cannabis businesses. Currently, they’re subject to IRC Sec. 280E, which prevents them from […]

ACA vote forced

The Affordable Care Act’s enhanced premium tax credit (PTC) is scheduled to expire on Dec. 31, 2025. In an unexpected turn, four House Republicans have joined House Democrats to force a vote on extending the enhanced PTC. This comes a day after House Speaker Mike Johnson (R-LA) said a vote under “normal procedures” wouldn’t happen. […]

an overview of the improvements made to the Adoption Tax Credit

The IRS has provided an overview of the improvements made to the Adoption Tax Credit by the One Big Beautiful Bill Act. The credit can be claimed for eligible expenses related to international, domestic, private and public foster care adoptions. Qualified expenses include adoption fees, legal costs and travel expenses. In 2025, the credit is […]