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Short version: OBBBA adds a temporary, targeted deduction for tips. It’s not a universal “no tax on tips.” Many tipped amounts are still taxable, and payroll taxes still apply. Here’s the clean, CFO-level breakdown you can put in front of client...

We’ve heard the same questions you have: "Is Social Security closing?" "Are my benefits going away?" The short answer: no. What’s Actually Happening, no benefit cuts have been announced. Retirees and beneficiaries will continue to receive their month...

We often receive questions about record retention, so let's take a moment to clarify what you need to know. Overall, the Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This 'three-year law' l...

Repeal Dates of Various Energy Credits and Incentives CreditRepeal Date IRC §25E Previously Owned Clean Vehicle Credit Repealed for vehicles acquired after September 30,2025 (OBBA §70501; IRC §25D(g)) IRC §30D Clean Vehicle Credit Repealed for vehicl...

The One Big, Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, and with it comes many new tax provisions that may directly affect you. There are many tax provisions contained in OBBBA beyond the ones we have highlighted here. Extension ...

As required by law, in every Form 1040 instruction booklet there's a section that shows where our federal government gets its money and where it is spent. As taxpayers it makes sense to know this information. Here is the data for the government's fis...

BOI e-Filing Alert: A federal court order issued on February 19, 2025, has reaffirmed that businesses must file a Beneficial Ownership Information (BOI) report. The Corporate Transparency Act (CTA) and its BOI reporting ...

The IRS has issued 282 pages of proposed digital asset reporting regulations, along with official IRS explanation of the provisions, which cover a range of digital asset issues where there have been questions. Issues addressed include expansive definiti...

Many of our clients that have applied for The Employee Retention Tax Credit (ERTC) ask about the taxability of the refunds received. Quick Answer: Yes, the ERTC refund is taxable. The IRS has taken the position that the income is taxable in the tax y...

After filing your taxes, you may start wondering... Where is my refund? The answer depends on how you filed your return: E-Filing will have your refund faster... your refund should be issued between two and three weeks. If paper filing via US Mail, t...