President Trump signs executive order to expedite rescheduling of cannabis

On Dec. 18, 2025, President Trump signed an executive order to expedite the rescheduling of cannabis from a Schedule I to a Schedule III drug. Although this action wouldn’t legalize marijuana on the federal level, rescheduling will have significant tax implications for cannabis businesses. Currently, they’re subject to IRC Sec. 280E, which prevents them from […]

ACA vote forced

The Affordable Care Act’s enhanced premium tax credit (PTC) is scheduled to expire on Dec. 31, 2025. In an unexpected turn, four House Republicans have joined House Democrats to force a vote on extending the enhanced PTC. This comes a day after House Speaker Mike Johnson (R-LA) said a vote under “normal procedures” wouldn’t happen. […]

an overview of the improvements made to the Adoption Tax Credit

The IRS has provided an overview of the improvements made to the Adoption Tax Credit by the One Big Beautiful Bill Act. The credit can be claimed for eligible expenses related to international, domestic, private and public foster care adoptions. Qualified expenses include adoption fees, legal costs and travel expenses. In 2025, the credit is […]

$52 Billion Drop in Corporate Taxes: What’s Driving It?

According to U.S. Treasury data, revenue from corporate income taxes fell by $52 billion between July and November 2025, compared with the same period in 2024. Experts attribute this to recent tax legislation that enables companies to reduce their taxable income. Under the One Big Beautiful Bill Act, which became law in July, rather than […]

Holiday Cheer + Tax Savings: What Employers Need to Know

Hosting a holiday party for your employees can be a great morale booster, but it also comes with tax considerations. Most entertainment expenses are currently nondeductible, and business meals are generally only 50% deductible. But under certain conditions, you can deduct 100% of party costs. The event must be for your entire staff and not […]

Scholarship Tax Credits Coming in 2027: What You Need to Know

Beginning on Jan. 1, 2027, eligible individual taxpayers can claim nonrefundable federal tax credits for cash contributions to qualified Scholarship Granting Organizations (SGOs) that serve K-12 students from low- and middle-income families. The credit was introduced under the One Big Beautiful Bill Act. The IRS has issued guidance (Rev. Proc. 2026-6) that allows states to […]

Protect Yourself from Tax Identity Theft This Holiday Season

With holiday shopping in full swing and tax season just around the corner, the risk of identity theft rises. Scammers often ramp up efforts this time of year to steal personal information and use it to file fraudulent tax returns and claim refunds. Filing your taxes early is one of the best ways to protect […]

Serving Our Country? Don’t Miss These Tax Breaks

Active-duty service members: Uncle Sam knows your job comes with unique financial challenges and personal sacrifices, especially during the holidays. Time away from home and family is never easy, but the federal tax code offers several breaks designed to ease the burden. Combat pay exclusions, moving expense deductions and extended filing deadlines are just a […]

Earn Tips? Don’t Forget to Report Them on Time in 2026

If you earn income from tips, you may want to mark up your 2026 calendar now. You’ll be required to report the previous month’s tips income of $20 or more (cash, check, charged and any portion of pooled tips you retain) to your employer by the 10th day of every month. If the 10th falls […]

🎄 Merry Christmas from Van de Ven LLC CPAs! 🎄

“God never gives someone a gift they are not capable of receiving. If He gives us the gift of Christmas, it is because we all have the capacity to understand and receive it.” — Pope Francis As the year comes to a close, we want to take a moment to thank our clients, partners, and […]