Many companies offer a retirement plan of one kind or another to their employees, but some businesses may feel they are too small to offer one, or that the plans are too expensive or complex to run. Fortunately, retirement plans come in many flavors, and there’s a good chance you can find one that’s right […]

Audits play a crucial role in providing transparency for clients and fostering confidence in a company’s financial reporting. An audit is particularly reassuring in uncertain business environments. At their core, audits are designed to assess whether a company’s financial statements are materially accurate and fairly reflect its financial position in accordance with applicable accounting standards. […]

In general, explains the IRS, contributions to charitable organizations may be deducted up to 50 percent of adjusted gross income. Contributions to certain private foundations, veterans organizations, fraternal societies, and cemetery organizations are limited to 30 percent adjusted gross income, however. Yes, this can get complicated, so be sure to keep records and discuss the tax situations with a […]

Designed to ensure fair treatment, transparent communication and legal protections, the IRS’ Taxpayer Bill of Rights outlines 10 key principles, ranging from the right to be informed to the right to appeal an IRS decision in an independent forum. Furthermore, the Taxpayer Bill of Rights protects you throughout the entire tax process, not just during […]

When you get preapproved for a mortgage, you’ll know exactly how much of a monthly payment you can afford. This will also tell you how much of a home you can afford. During preapproval, you’ll work with a mortgage lender that will check your credit reports and three-digit credit score. You’ll also provide your lender […]

The Internal Revenue Service has announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026, while the mileage rate for vehicles used for medical purposes will decrease by half a cent, reflecting updated cost data and annual inflation adjustments. Optional standard mileage rates are used to […]

The Treasury Department and the IRS are offering guidance on OBBBA expanded Health Savings Account eligibility that allows more people to save and pay for healthcare costs. Here are the details of the expanded HSA access: Telehealth and Remote Care Services—The OBBBA made permanent the ability to receive telehealth and other remote care services before […]

The One Big Beautiful Bill (OBBB), signed into law on July 4, 2025 (Pub. L. 119-21), introduces a wide range of tax and payroll changes that will affect multiple filing seasons. The IRS and Treasury have been steadily releasing draft forms, guidance and proposed regulations to help employers and employees prepare. Here’s a comprehensive update covering the latest […]

Most of the papers you need to document the income, interest and withheld taxes you report arrive in your mailbox in January, with investment-related 1099s often coming in February. Get ready for their arrival by creating print and online folders. It’s a good idea to create a paper and an email tax folder for messages […]

The IRS Get Ready campaign offers tips, reminders and new information on what you need to prepare for the 2026 tax filing season. Among the changes and additions the OBBBA brings are tax deductions for tips, overtime, car loan interest and seniors. Here are tips to prepare for filing season: Access or login to an […]