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If you received tips or overtime pay in 2025, you may be eligible for a new deduction when you file your income tax return. Both deductions can be...

While legislation signed into law in 2025 extends or enhances many tax breaks for businesses, it ends some clean energy tax incentives. Fortunately,...

Here’s a sampling of some significant tax law changes going into effect this year: New charitable contribution deduction for non-itemizers for cash...

Starting in 2026, personal casualty loss deductions will no longer be limited to federally declared disasters. Certain state-declared disasters will...

Generally, except for home mortgage interest, personal interest expense isn’t deductible for federal income tax purposes. With the passage of the...

For income tax purposes, a business loss generally occurs when a business’s deductions for the year exceed its revenue. Any business, whether new or...

Remote work can offer advantages for both employers and employees. But it’s not without challenges, such as unexpected tax consequences. State Tax...

Have you been claiming the standard deduction the last few years? If so, you may want to rethink that for 2025. The expanded state and local tax...

As this year comes to a close, business owners seeking to reduce their taxes for 2025 have a variety of opportunities. Here’s a look at two...