How to Rein in the National Debt
How to Rein in the National Debt https://taxfoundation.org/research/all/federal/us-debt-deficits-federal-budget-spending-taxes/
Read More How to Rein in the National DebtAuthor: Van de Ven CPAs + Business Consultants
Not just anyone can file a federal tax return as Head of Household
Not just anyone can file a federal tax return as Head of Household – Test your knowledge with this quiz.
Read More Not just anyone can file a federal tax return as Head of HouseholdCigarette Taxes and Cigarette Smuggling by State
Cigarette Taxes and Cigarette Smuggling by State https://bit.ly/4lmJiHD
Read More Cigarette Taxes and Cigarette Smuggling by StateFrom $10M to $15M Tax-Free — Here’s What Changed
A tax break in the One, Big, Beautiful Bill Act is a boon for founders of successful startup businesses. Before the new law, the qualified small business stock exclusion generally enabled early investors (who acquired stock when a company was worth less than $50 million) to pay no tax on the first $10 million in […]
Read More From $10M to $15M Tax-Free — Here’s What ChangedSeparated or Divorced? Here’s What It Means for Your Taxes
If a couple gets separated or divorced, it affects tax obligations. The IRS considers couples married for tax purposes until a final decree is issued. After separating or divorcing, update your Form W-4 with your employer and check withholding using the IRS estimator. Certain alimony payments may be deductible by the payer and taxable to […]
Read More Separated or Divorced? Here’s What It Means for Your TaxesHow will the One, Big, Beautiful Bill Act affect individual taxpayers?
The One, Big, Beautiful Bill Act (OBBBA) includes, among many other things, numerous provisions that can affect an individual’s taxes. The new law makes some changes to existing tax breaks that will be significant to many, but not all, taxpayers. It also creates new breaks that, again, will be significant to certain taxpayers. Finally, it […]
Read More How will the One, Big, Beautiful Bill Act affect individual taxpayers?New Law Makes Part of the Adoption Credit Refundable — Finally!
Adopting a child is expensive, but adoptive parents may qualify for a tax break to offset some of the costs. Under the One, Big, Beautiful Bill Act (OBBBA), the tax break got better for some parents. For 2025, the maximum adoption credit is $17,280 of qualified expenses, with phaseouts for higher-income parents. Under prior law, […]
Read More New Law Makes Part of the Adoption Credit Refundable — Finally!They Didn’t Report $1.8M — Here’s What the Tax Court Said
Federal law generally defines gross income as income from all sources. This includes income from settlements unless excluded by law, such as those paid for personal injuries or personal sickness. One married couple received a $1,800,000 settlement from the wife’s former employer, but they didn’t report the amount on their tax return. The wife argued […]
Read More They Didn’t Report $1.8M — Here’s What the Tax Court SaidMilestone moments: How age affects certain tax provisions
They say age is just a number — but in the world of tax law, it’s much more than that. As you move through your life, the IRS treats you differently because key tax rules kick in at specific ages. Here are some important age-related tax milestones for you and loved ones to keep in […]
Read More Milestone moments: How age affects certain tax provisionsNew Legislation Seeks to Limit IRS Funding and Scope
Congressional Republicans have already clawed back more than $40 million in Inflation Reduction Act funding to the IRS. A newly approved U.S. House Appropriations Financial Services and General Services Subcommittee bill would further cut the IRS’s budget. For the fiscal year ending Sept. 30, 2026, the bill provides the Treasury Dept. with $11.29 billion, which […]
Read More New Legislation Seeks to Limit IRS Funding and Scope
