What percentage of Americans have an estate plan?

Are You Ready for the 2026 Catch-Up Contribution Rules?

Beginning in 2026, new rules under SECURE 2.0 will require higher-income participants in 401(k), 403(b) and 457(b) plans to make any catch-up contributions as after-tax Roth contributions. For 2026, this requirement applies to participants with 2025 Social Security wages exceeding $150,000. That threshold will be annually adjusted for inflation. No longer being able to make […]

How the Social Security wage base will affect your payroll taxes in 2026

The 2026 Social Security wage base has been released. What’s the tax impact on employees and the self-employed? Let’s take a look. FICA tax 101 The Federal Insurance Contributions Act (FICA) imposes two payroll taxes on wages and self-employment income — one for Old-Age, Survivors, and Disability Insurance, commonly known as the Social Security tax, […]

Snow Day

It’s probably safe to say that filing a 2025 tax return currently isn’t at the top of most people’s minds. The good news is there’s time to prepare. To that end, the IRS is providing tips and other information on its website to help taxpayers get organized. With the passage last year of the One […]

IRS Staffing Shortages May Mean Slower Help This Tax Season

According to the Treasury Inspector General for Tax Administration (TIGTA), the IRS lost as much as 19% of staffers from key tax season functions in 2025. It also implemented a hiring freeze. TIGTA and many lawmakers are worried that IRS staffing shortages will negatively affect taxpayers during the upcoming tax season. In recent communications with […]

Your 2025 W-2 Is Coming—Here’s When

When should employees expect to receive their 2025 Form W-2? Most years, employers must either directly provide or mail W-2s by Jan. 31. But Jan. 31 falls on a Saturday in 2026, so the deadline this year is Monday, Feb. 2. If your employer mails your W-2, you should receive it within a week of […]

New law eases the limitation on business interest expense deductions for 2025 and beyond

Interest paid or accrued by a business is generally deductible for federal tax purposes. But limitations apply. Now some changes under the One Big Beautiful Bill Act (OBBBA) will result in larger deductions for affected taxpayers. Limitation basics The deduction for business interest expense for a particular tax year is generally limited to 30% of […]

Got a CP24 Notice From the IRS? We Can Help

You’ll receive a CP24 notice if the IRS reviews your tax return and determines you’re due a refund that differs from what you originally claimed. This often happens because the IRS corrected a math error, applied a payment or credit differently, or offset a refund to pay another tax liability. The notice explains what changed […]

IRS Updates FAQs on Premium Tax Credits After ACA Enhancements Expire

The Affordable Care Act’s enhanced premium tax credits (PTCs) have now expired. The IRS recently updated its FAQs on PTCs. In a nutshell, a taxpayer can elect to have the federal government pay an advanced PTC directly to the insurer based on his or her estimated annual income. The advanced PTC is then reconciled with […]

3 tips to streamline your accounting processes

Whether you operate a for-profit business or a not-for-profit organization, strong accounting practices are essential for maintaining financial health and making informed decisions. These include creating budgets, monitoring results, preparing accurate financial statements, and complying with tax and payroll requirements. Over time, even efficient systems can become outdated or inconsistent. Here are three simple ways […]