What Parents and Grandparents Should Know About Trump Accounts

Contributions to Section 530A accounts (also known as Trump Accounts) are now eligible for the gift tax annual exclusion. If, for example, you contribute cash (including via check or EFT) to a child or grandchild’s account, that contribution won’t be subject to the federal gift tax or related reporting requirements, as long as your total […]

Repairs or Improvements? The Tax Difference Could Save You Money

For many business owners, the terms “repairs” and “improvements” are interchangeable. But the tax implications differ. If your business completes repairs, you can deduct the costs the year they’re made. Improvements are capital expenditures that generally must be written off over time. Determining whether work constitutes a repair or an improvement can be tricky. The […]

Mixing Business with Vacation? Know What’s Tax Deductible

Are you a business owner or self-employed and planning a business trip this summer? As long as the primary purpose of the trip is business, you may be able to deduct certain travel costs even if you add some vacation time. Deductible expenses may include your entire airfare as well as lodging costs, local transportation […]

IRS Filing Season Update: Progress Made, Challenges Remain

The National Taxpayer Advocate reports that most taxpayers had a smooth 2026 filing season, primarily due to continued IRS progress in transforming its IT systems. However, the 2026 midyear report to Congress (https://bit.ly/4g2hoSu ) also highlights ongoing issues, including refund delays for some taxpayers, identity theft case backlogs and processing challenges for certain returns. Looking […]

A Little-Known Home Sale Tax Break for Seniors in Care Facilities

If an aging parent or loved one becomes physically or mentally unable to care for themselves and moves into a licensed care facility (such as a nursing home or assisted living), a special rule may save tax when selling their home. If they owned and used the home as their principal residence for an aggregate […]

Don’t Wait Until December: Summer Is the Perfect Time for Charitable Donations

Many people wait until year end to think about tax-deductible charitable donations. But summer is a great time to clean out your closets and donate clothing and home goods to local nonprofits. In 2026, taxpayers who itemize can deduct cash and noncash contributions that exceed 0.5% of their adjusted gross income (AGI). For donations valued […]

New Bill Proposes Major Tax on AI Companies

AI companies would be subject to a one-time tax equal to 50% of their outstanding equity interests if a bill proposed by U.S. Senator Bernie Sanders (I-VT) is passed and signed into law. Under the bill, these equity interests would be deposited into a sovereign wealth fund for the benefit of all Americans. The tax […]

Today, America celebrates an extraordinary milestone—250 years since the signing of the Declaration of Independence. For two and a half centuries, our nation’s strength has been built by entrepreneurs, innovators, business owners, workers, and families who believed in the promise of freedom and opportunity. At Van de Ven CPAs + Business Consultants, we’re honored to […]

Newly Married? Don’t Overlook These Tax To-Dos

If you’re getting married, or were recently married, congratulations! Taxes are likely the furthest from your mind, but there are a few tax-related chores you need to consider. For example, next year, for 2026, you’ll be filing your first tax return as a married person. That could affect the amount of tax you should have […]

What 250 Years of Tax History Reveal About the US Tax Code

What 250 Years of Tax History Reveal About the US Tax Code https://bit.ly/4v8VJvy