Notice 2025-54 from the IRS updates the per diem rates taxpayers can use to cover lodging, meals and incidental expenses when traveling away from home. The rates take effect October 1, 2025, and include a special rate for the transportation industry, a rate for incidental expenses only, and the high-low rates for certain high-cost areas. […]

The One Big Beautiful Bill Act, signed in July, creates a special deduction for Americans age 65 and older. It provides a deduction worth up to $6,000 a year in tax years 2025 through 2028. To claim it, you must: Turn 65 or older by the end of the tax year. File a return that […]

Since 2022, bad actors posing as “tax experts” have used social media to push fraudulent ways of claiming credits. Their posts encourage taxpayers to misuse legitimate credits, such as the Fuel Tax Credit or the Sick and Family Leave Credit. These credits are meant only for certain businesses or self-employed individuals, but taxpayers who follow […]

Payroll Systems does more than process paychecks. We help businesses simplify HR, benefits, timekeeping and compliance all in one place. HR Made Easy With HCM and HRIS software, Payroll Systems keeps employee data organized and easy to access. Tracking recruitment, performance and compliance has never been simpler — everything is in one place, not scattered […]

Signed into law on July 4, the One Big Beautiful Bill Act significantly impacts how pass-through entities are taxed at the federal level. S corporations, partnerships, limited liability companies and sole proprietorships are the most common structures for small and midsize businesses. The OBBBA makes several tax breaks for these companies permanent, restores others that […]

Take the case of the individual who worked in the book publishing industry his entire career. At one point he briefly worked for a major corporation and was contributing to a company-supported 401(k) plan. Over time, he forgot that he had left a retirement account with his former company. Fortunately, the company reminded him of […]

Are you having the right amount of taxes withheld from your paycheck? You should check at least once a year, or even more frequently if you’ve had a major life change. Right now, in the aftermath of a pandemic that upended many taxpayers’ financial situations, is a good time to check and to make changes […]

Before Congress passed the 2017 Tax Cuts and Jobs Act, you could deduct moving expenses if you were making your move because you were starting a new job in a different location or your employer transferred you to a new job that required a move. By claiming these deductions, you could lower your income tax […]

Businesses can reimburse employees for eligible out-of-pocket, work-related expenses through either an accountable or a nonaccountable employee reimbursement plan. The key difference lies in how the payments are treated for tax purposes. In an accountable plan, employers can reimburse employees for business expenses without classifying the payment as taxable income. Conversely, under a nonaccountable plan, […]

The thought of tax time can be stressful until you realize you’re due a refund from the U.S. government. A refund can provide you with a cash windfall that can help you financially, but you need to plan how best to use this money. Tax refund stats The Internal Revenue Service reported that the average […]