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We are reaching out to share an important update regarding significant changes to IRS payment and refund processes. On March 25, 2025, President Trump signed an executive order aimed at modernizing payments to and from the federal government. The goal is to eliminate inefficiencies, reduce costs, and improve payment security by requiring nearly all financial […]
The Social Security Fairness Act, signed into law by President Joe Biden on Jan. 5, repeals two long-standing provisions: the Government Pension Offset and the Windfall Elimination Provision. The repeal of these provisions restores Social Security benefits to millions of public workers who had seen their monthly checks reduced under these rules, which were enacted […]
Signed into law on July 4, the One Big Beautiful Bill Act significantly impacts how pass-through entities are taxed at the federal level. S corporations, partnerships, limited liability companies and sole proprietorships are the most common structures for small and midsize businesses. The OBBBA makes several tax breaks for these companies permanent, restores others that […]
Depreciation is the tax process of spreading the cost of an asset over the years it is expected to be useful. Bonus depreciation is different: It is a tax incentive that allows businesses to deduct the full cost of certain assets, such as equipment, vehicles or software, in the year of purchase. The One Big […]
The One Big Beautiful Bill Act became law on July 4, 2025. The new law, which is generally regarded as pro-business, contains significant tax changes for businesses and individual taxpayers alike. Here is a summary of some of the important highlights of the OBBBA. Provisions affecting individuals: The OBBBA added one year of inflation adjustment […]
Caring for loved ones at both ends of the age spectrum often means your own financial needs come last. It may be harder to save for retirement, maintain your mental health or stay afloat amid rising costs and job uncertainty. The best approach is proactive. Organize your financial and legal affairs now to reduce stress […]
AI can be found just about everywhere, whether you are aware of it or not. If you have a smartphone or laptop, then you have used AI. You have probably posed a question to popular digital assistants like Siri, Alexa, Cortana, Bixby or Google Assistant and not realized that you were, in fact, utilizing AI […]
In Rev. Proc. 2025-19, released in May 2025, the IRS announced the following changes to HSAs. HSA Inflation Adjusted Items. For calendar year 2026, the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan is $4,400. The annual limitation on deductions for an individual with family coverage under […]
A will is a legal document that takes effect after your death. It specifies how you want your assets distributed and allows you to name a guardian for minor children. Wills must be signed and witnessed according to your state’s laws, and they are filed with a probate court after your death. Probate is a […]
A tariff is a tax imposed on imported goods with the aim of protecting domestic industries and generating revenue. The importer pays the tariff to U.S. Customs and Border Protection, and often the cost is passed on — fully or partially — to consumers in the form of higher prices. As a result, goods from […]