Personal interest expense generally can’t be deducted for federal tax purposes. There are, however, exceptions. Here are four, one of…
A new but temporary special depreciation allowance for qualified production property (QPP) was created by last year’s One Big Beautiful…
Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some…
An advance payment is one received by a business before it provides whatever is being paid for. For federal income…
The many tax-related provisions that went into effect last year after the One Big Beautiful Bill Act (OBBBA) was signed…
The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed…
Did your business make repairs to tangible property, such as buildings, equipment or vehicles, in 2025? Such costs may be…
Tax credits reduce tax liability dollar-for-dollar. As a result, they can be more valuable than deductions, which reduce only the…
Normally businesses must furnish certain information returns to workers and submit them to the federal government by January 31. But this…
With Notice 2025–67, the IRS has issued its 2026 inflation-adjusted retirement plan contribution limits. Although the changes are more modest…