Now is the time of year when taxpayers search for last-minute moves to reduce their federal income tax liability. Adding to the complexity this year is the One Big Beautiful Bill Act (OBBBA), which significantly changes various tax laws. Here are some of the measures you can take now to reduce your 2025 taxes in […]
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Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025 taxes and might even provide permanent tax savings. Also consider the impact of the One Big Beautiful Bill Act (OBBBA). It makes permanent or revises some Tax Cuts and Jobs Act (TCJA) provisions […]
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Stack It Up: How to Turn One $10M Tax Break Into $40M+ (Because Math Is Beautiful) Listen up, fellow tax geeks—because I’m about to introduce you to one of the most elegant wealth multiplication strategies in the entire Internal Revenue Code. We’re talking about Section 1202 stacking , and if you’re not already doing backflips […]
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The Quiet Revolution in Tax Strategy: What Forward-Thinking Advisors Are Building Friends, there’s a shift happening in tax advisory that nobody’s really talking about yet. It’s not as sexy as the latest tax law changes—no bombastic headlines, no congressional drama. But if you’re thinking about the future of your business, it matters more than you’d […]
The Super-Sized Catch-Up: SECURE 2.0’s Gift to the 60-Something Crowd (And Why 2025 is Your Golden Window) Listen up, friends, because if you’re staring down the barrel of 60 or already there, SECURE 2.0 just threw you a retirement planning lifeline that’s actually substantial . I’m talking about the new “super catch-up” contribution rules that […]
Holy Cannoli: Why 2026 Will Be the Most Chaotic Filing Season (And What It Means for You) Friends, grab your espresso—because we need to have a serious conversation about what’s actually happening with the IRS right now. And I’m going to be straight with you: the system that processes your taxes is literally falling apart. […]
The One Big Beautiful Bill Act (OBBBA) shifts the landscape for year-end tax planning. The law has significant implications for some of the most tried-and-true tax-reduction measures. It also creates new opportunities for businesses to reduce their 2025 tax liability before December 31. Here are potentially some of the most beneficial ones. Investments in capital assets […]
Saving taxes probably isn’t your primary reason for supporting your favorite charities. But tax deductions can be a valuable added benefit. If you donate long-term appreciated stock, you potentially can save even more. Not just a deduction Appreciated publicly traded stock you’ve held more than one year is long-term capital gains property. If you donate […]
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Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence interest or home mortgage interest, which can be deducted, subject to some limitations, if you itemize deductions on your tax return. The One Big Beautiful Bill Act (OBBBA) adds another exception for eligible car loan […]
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At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But teachers are also buying school supplies for their classrooms. And in many cases, they don’t receive reimbursement. Fortunately, they may be able […]
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