More Tariffs

On April 7, President Trump threatened in a social media post that the U.S. would impose an additional 50% tariff on Chinese-produced goods. This 50% tariff is in addition to the already announced 20% tariff due to fentanyl trafficking and a separate 34% tariff announced on April 2. If implemented, the president’s new taxes on […]

Harness the power of QuickBooks for your business

Accurate financial records help business owners manage cash flow, tax obligations and strategic planning. QuickBooks® is one of the most widely used bookkeeping software solutions for small and midsize businesses, offering a comprehensive suite of tools designed to simplify financial management and support business growth. Why QuickBooks stands out QuickBooks offers several advantages over other […]

Did you miss the due date?

Did you miss the due date? If you make estimated tax payments, be aware that April 15 isn’t just the 2024 tax filing deadline. It’s also the deadline for the first estimated tax payment for 2025. Estimated tax payments are generally made by self-employed people, retirees, investors, businesses and others who don’t have taxes withheld […]

Bill advancing includes no tax on tips, overtime and Social Security

On April 5, the U.S. Senate voted 52-48 to approve a budget blueprint that allows them to take the next step in moving President Trump’s “one big, beautiful bill” forward. The resolution now heads to the U.S. House for consideration. The big bill Republicans hope to pass would extend many provisions in the Tax Cuts […]

Disaster relief bill moves to Senate

Two bills that recently passed unanimously in the U.S. House are intended to make it easier for victims of disasters to obtain tax relief. H.R. 517 would enable the IRS to grant federal tax relief to affected taxpayers as soon as governors of states declare a state of emergency. Currently, the IRS must wait until […]

Why smuggling was popular in 18th century Britain

Migration to electronic payments begins with executive order

President Trump has announced that the IRS (and all other federal agencies) must soon stop accepting and issuing paper checks and money orders. His March 25, 2025, executive order calls for a migration to electronic payments by Sept. 30, 2025, (with limited exceptions). The IRS has long encouraged taxpayers to pay electronically for faster, more […]

Living abroad? When is my tax return due?

Taxpayers living and working abroad have until June 16, 2025, to file their 2024 income tax returns and pay any tax due. This deadline applies to U.S. citizens and resident aliens, including those with dual citizenship. It includes those in the military on duty outside the United States. These individuals generally are allowed a two-month […]

An essential tax deadline is coming up — and it’s unrelated to your 2024 return filing

Tuesday, April 15 is the deadline for filing your 2024 tax return. But another tax deadline is coming up the same day, and it’s essential for certain taxpayers. It’s the deadline for making the first quarterly estimated tax payment for 2025 if you’re required to make one. Basic details You may have to make estimated […]

New baseline tariff announced

President Donald Trump has announced a new 10% baseline tariff on all goods imported into the United States. In addition, he announced custom tariffs of up to 49% on more than 50 countries. For example, there’s a new 20% tariff on imports from the European Union and a new 46% tariff on Vietnam. As part […]