ARTICLES

Starting in 2025, certain workers may be eligible for new federal tax deductions on qualified tip and overtime income. These deductions, available through 2028, come with specific eligibility rules and reporting requirements for both employees and employers. While payroll taxes still apply, the changes may reduce taxable income for some workers.

With the OBBBA, certain taxpayers can now deduct interest on car loans for new qualifying vehicles purchased after 2024, potentially saving up to $10,000 per year. The deduction comes with income limitations and specific vehicle eligibility criteria, including final assembly in the U.S. and reporting requirements. Not all buyers or vehicles qualify, making it essential to consult a tax professional for guidance.

There are updates to the IRS reporting rules -- raising the 1099 threshold from $600 to $2,000 starting in 2026. This change reduces paperwork, lowers compliance burdens, and provides relief for small businesses while maintaining accurate income reporting requirements.

Discover how the OBBBA impacts small businesses with new tax breaks, expensing rules, R&D deductions, and phase-outs of energy incentives.

Teachers often spend their own money on classroom supplies, and tax law offers ways to ease that burden. Eligible educators can currently deduct up to $300 in unreimbursed expenses as an above-the-line deduction. Beginning in 2026, the OBBBA introduces a new itemized deduction with broader eligibility and no dollar limit. Careful tracking of expenses can help maximize these valuable tax breaks.

Discover the new tax advantages of Qualified Small Business (QSB) stock under the OBBBA. Learn about updated asset limits, gain exclusions, and rollover opportunities to maximize your investment strategy.

Discover practical accounts payable (AP) tips for small business owners. Learn how to improve cash flow, avoid costly mistakes, and build stronger vendor relationships with better AP management.

Effective cash flow management is essential for business stability, helping owners balance the timing of incoming sales and outgoing expenses. By monitoring business cycles and proactively adjusting strategies, companies can avoid cash shortages and maintain financial health.

Learn how the OBBBA’s new provisions for 2025–2028 affect estimated tax payments, deductions, and credits — plus strategies to optimize your tax planning under the latest regulations.

Learn how the alternative minimum tax (AMT) works, recent changes under the OBBBA, and what risk factors could trigger AMT liability in 2026 and beyond.

Learn how the OBBBA tax law impacts families with changes to credits, savings accounts, 529 plans, and more.

The QBI deduction, now permanent under the One, Big, Beautiful Bill Act, lets eligible business owners deduct up to 20% of qualified income. Starting in 2026, expanded phase-in ranges and a $400 minimum deduction will make it easier for more taxpayers to benefit and plan tax savings. Learn more.

Starting a new business? Learn how start-up and organizational expenses are treated for tax purposes, what qualifies for deductions, and how proper planning can reduce your tax bill.

Discover how the 20% federal rehabilitation tax credit can lower costs for renovating or relocating your business into a historic property. Learn eligibility rules, qualified expenses, and ways to maximize tax benefits.

Age-based tax rules can impact your finances. Tracking these milestones helps you maximize benefits and avoid mistakes.

College expenses add up, but many students receive financial aid. Learn how to maximize college financial aid for tax benefits. Discover tips, records to keep, and when aid may be taxable.

A spousal IRA lets couples grow retirement savings even if one spouse has little or no income. Learn about 2025 contribution limits, tax benefits, and how to get started.

Are you 65 or older and paying for Medicare or supplemental insurance? Learn how you may qualify for valuable tax deductions on premiums and other medical expenses.

As IRS enforcement around digital assets increases, it's more important than ever to understand how cryptocurrency, NFTs, and other digital assets are taxed. We break down what qualifies as a digital asset, how to answer the IRS's crypto question on your tax return, and what records you need to stay compliant.

Discover how the One Big Beautiful Bill Act (OBBBA) benefits small businesses with enhanced tax benefits production property starting in 2025.