New Tax Rules Are Making This Charitable Giving Strategy Even More Valuable

New Tax Rules Are Making This Charitable Giving Strategy Even More Valuable https://bit.ly/4exRIfs

Summer Internships Come with Tax Responsibilities

Does your child have a paid summer internship? Don’t let him or her forget about taxes. Many interns are surprised to learn that internship stipends or other related payments are generally taxable, even if the program offers training or educational opportunities. Depending on the arrangement, payments may be reported on Form W‑2 or Form 1099. […]

Can You Deduct Alimony on Your Tax Return? Here’s What You Need to Know

Can taxpayers deduct alimony payments? It depends on when you signed your divorce or separation agreement. If it was made in 2019 or later, you can’t deduct alimony (and alimony’s not included in the recipient’s taxable income). But these payments are generally deductible (and taxable to the recipient) if they’re subject to an agreement made […]

Wine Taxes by State, 2026

Wine Taxes by State, 2026 https://bit.ly/4oPTYlG

New Limits on Corporate Charitable Deductions Coming in 2026

If your C corporation traditionally makes deductible charitable gifts, make sure you know the rules for 2026 donations. Starting Jan. 1, 2026, corporations can only deduct charitable gifts in excess of 1% of the company’s taxable income, with a 10% of income cap. Amounts exceeding the 10% cap can be carried forward — as can […]

New “Trump Accounts” Option for Foster Care Children Announced by U.S. Treasury

Treasury Secretary Scott Bessent has announced plans to allow child welfare agencies to elect to open Section 530A accounts (also known as “Trump Accounts”) for children in foster care. The option is available when a state, territorial or tribal government agency is the legal guardian of a child with a Social Security number. A Sec. […]

The Taxpayer Advocate Service is reminding small businesses of an upcoming deadline for filing an amended return to claim a domestic research and experimental (R&E) deduction. Tax legislation signed into law last year allows businesses to deduct domestic R&E expenses in the year they’re incurred, starting with the 2025 tax year. It also allows eligible […]

IRS CP53E Notices Are Causing Confusion About Refunds — Here’s What to Know

Did you receive an IRS CP53E notice and wonder what it means for your tax refund? Millions of taxpayers received these notices — in some cases erroneously — causing confusion about refund processing and bank account information. The notices also raised concerns about potential fraud. In response, the American Institute of CPAs (AICPA) is urging […]

Midyear Tax Planning Tips for Noncorporate Business Owners

Noncorporate business owners: Midyear is a good time to step back and think about taxes. After all, your business income affects your personal federal tax liability. If you’re a sole proprietor or owner of a pass-through entity, start by reviewing your expected 2026 income, tax bracket, deductions and cash flow to determine whether it makes […]

Adoption Assistance Programs Can Offer Valuable Tax Benefits for Employers and Employees

Employers: A qualified adoption assistance program is a family-friendly benefit worth looking into. It can help your employees manage adoption costs by allowing qualifying employer-provided payments or reimbursements to be excluded from federal taxable income. You can fund the program yourself or, in some cases, through pretax employee salary reductions under a Section 125 cafeteria […]