The One Big Beautiful Bill Act of 2025 (OBBBA) expands several business tax benefits while easing certain compliance obligations. Here’s a summary of the key provisions affecting small businesses. Form 1099. The reporting threshold for Form 1099-NEC and 1099-MISC moves from $600 to $2,000 after December 31, 2025. This threshold is

You’ve bought the pencils, notebooks, and glue sticks. You survived the school supply aisle and think you’re done. The truth is the upcoming school year’s costs are just getting started! Here’s some other elements of the school year’s true costs and how to stay ahead financially this upcoming school year.

Deductions, credits and more The One Big Beautiful Bill Act of 2025 (OBBBA) contains a number of tax breaks for parents. Here’s a summary of what’s in the bill for families, including planning tips to make the most of each tax break. Parents get a permanent increase to the child

Best advice? Be prepared NOW! Two new major tax changes, No Tax on Tips & No Tax on Overtime, are introduced in the One Big Beautiful Bill Act (OBBBA) passed on July 4, 2025. Here’s what you need to know about these two tax breaks, along with questions that still

We like to think we’re in control of our decisions. But the truth is, much of what we do is shaped by influence – often subtly, sometimes blatantly – through what we see, hear, and experience every day. Here’s a deeper look at the power of influence. Visual cues shape

You don’t need to survive on sodium-packed ramen or become a full-time coupon clipper to shrink your grocery bill. In the age of rising food prices and shrinking portions, here are several ways that smart shoppers are turning grocery shopping into a game – and winning. Start with a reverse

Many parents rely on piggy banks and birthday cash to teach kids about money. But more are now turning to custodial accounts – a hands-on way for children to learn about saving and investing. While these accounts offer great learning opportunities, they also come with several trade-offs worth planning for.

What everyone is wondering Here are several of the most common tax questions and their answers. But like most things, there can be exceptions, so if in doubt always ask for help. What happens to a loan if it’s forgiven? The IRS generally considers the canceled amount as taxable income, unless

The One Big Beautiful Bill Act What you need to know With the passage of the One Big Beautiful Bill Act or OBBBA, many of the temporary tax laws set to expire at the end of 2025 have been made permanent. This week’s tip summarizes the changes to several of

Taxes can be complicated, and the rules often come with exceptions. While it’s always wise to consult a professional, here are answers to some of the most frequently asked tax questions. What Happens If a Loan Is Forgiven?If a lender cancels your debt, the IRS generally treats the forgiven amount

Review and Correct Your 1099s NOW! What to do to fix this thorny problem It’s sometime in February and you realize the Form 1099 you received is in error. In fact, it overstates your income by several thousand dollars. What should you do? Gather your facts. Put yourself in the shoes

Summer is usually the time for relaxing, but it can also be a time for tax savings, especially if you’re still reeling from an unexpectedly large tax bill in April. Here are four timely tips: Rent your home. If you rent out your main home or a vacation home part of

Ideas to Protect your Social Security Number SSN theft is still a major problem!   With the dramatic increase in identity theft, now is a great time to remind yourself of the basics to reduce the risk of having your Social Security number (SSN) stolen. Here are some ideas. Do

Paying a Tax Bill With a Credit Card Understand the options and costs Your tax bill has come and gone with you still owing money because you’re a little strapped for cash. Or maybe you’re considering alternative payment options for your upcoming quarterly estimated tax payment. There’s also noise out

Our tax code is filled with ways to reduce your tax bill—but it also contains a few traps that can lead to unexpected tax obligations. Understanding where these surprises can appear is the first step in planning ahead. Here are some of the more common tax situations that catch people

Now is the time to make your estimated tax payment If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The second quarter due date is now here. Due date: Monday, June 16, 2025

With the pending tariffs and turbulent markets, the last thing on most taxpayers minds is tax planning. But in the midst of all this turmoil is the potential for tax saving activity available to those willing to plan accordingly. Here is what you need to know. In a turbulent market,

  Summertime often sees an increase of natural disasters, with hurricane season soon after. You may want to help, but you want to make sure the organizations are not a scam. And while fewer taxpayers itemize deductions, those that do want to ensure there deductions are legitimate. Here are some

For some reason, some believe it’s better to receive than to give when it comes to filing taxes. While that may help your savings account, it’s not always a great idea. Here’s why. You are the bank. You are giving the IRS an interest-free loan. And now with higher interest rates,

Taxes can be complicated, and the rules often come with exceptions. While it’s always wise to consult a professional, here are answers to some of the most frequently asked tax questions. What Happens If a Loan Is Forgiven?If a lender cancels your debt, the IRS generally treats the forgiven amount

An Earnings Report Review is For Everyone! It is now easier than ever to check your report   Most of us go through life without being concerned with, or ever checking on, our Social Security records. We assume the money deducted each payday and an equal amount paid in by

From quirky tax laws to surprising deductions, this fun 10-question multiple choice quiz will test your knowledge about interesting tax facts from here and around the world. Let’s see how you do—answers are at the end! 1. Given our British origins, let’s start with a fun English tax fact. What

It’s a universal truth: socks have a way of disappearing. The mystery of the vanishing sock is an unsolved puzzle that everyone experiences. But what’s really behind this bizarre phenomenon? And what about other everyday mysteries that leave us scratching our heads? It’s time to unravel some of life’s most

With the individual tax-filing deadline on Tuesday, April 15th, if you have not already done so, now is the time to complete all filing arrangements and payments. While this information is provided in our filing instructions, it makes sense to provide this information to everyone, whether you have filed or

Scammers are becoming increasingly sophisticated, with more emails, phone calls and text messages crafted to look and sound like the real thing. This is often because thieves are adding artificial intelligence to its arsenal of tools to transform their tricks into messaging that genuinely looks like its coming from a

Immediate Required Action: Review your savings account interest rate and take necessary action to avoid potential deceptive, unreasonable, and obscure rules that are keeping your money from making a reasonable interest rate! Background When interest rates rose due to inflation, banks and credit unions quickly raised their interest rates on credit

You will soon have to confront a higher tax bill if Congress doesn’t extend many credits, deductions, and lower tax rates that are set to expire at the end of this year. Here’s who should be considering ongoing tax planning sessions as this uncertainty plays out in Congress and the

To ensure your tax return is filed quickly and without error, double-check this list of commonly-overlooked items. These little pesks are among the commonly missed items reported as hold ups to filing individual tax returns: By knowing these commonly missed pieces of information, hopefully your tax filing experience will be

With the cost of college rising rapidly, it can be overwhelming to think about how to pay your way through school for either yourself or your kids. Fortunately, saving hundreds, or even thousands, is possible. Teenagers can help keep down the cost of their future college tuition by taking the

The recent wildfires in California forced thousands of families from their homes with little to no warning. If you ever find yourself in a similar situation where you need to evacuate your home with only a moment’s notice, having an escape plan mapped out ahead of time could potentially save

You may receive a tax document with incorrect information. You may also discover that a tax form you’re expecting was never delivered. Here are several situations you may encounter with incorrect information and what you can do about it. Remember that when you receive these informational tax forms to immediately

he tax filing season for 2024 tax returns is now officially open per the IRS. So when is the best time to file your tax return? Sometimes it makes sense to delay filing as long as possible, but on other occasions an early filing of your return makes more sense.