Congress recently introduced a new tax break under the One Big Beautiful Bill Act (OBBBA), and it’s already making headlines. It’s called the “No Tax on Tips” deduction, and while the name sounds huge, the actual benefit is more limited
If you missed your 2025 estimated tax payments or paid less than you should have, there’s a good chance the IRS is planning to charge you a penalty. And not just any penalty… a non-deductible 7% penalty that compounds daily.
Let’s start with a simple question: Do you need more tax deductions for 2025? If your answer is yes, keep reading. Next question: Do you need a replacement business vehicle? If you also answered yes, here’s the good news: You
The purpose of this letter is to reveal how you can get the IRS to owe you money. Sounds wild, right? But it’s true, you can legally put yourself in a position where you keep more cash and the IRS
If you own a vacation home or rent out a second property, there’s a tax case you should know about one that could save you thousands of dollars in lost deductions. Let’s look at the case of Charles M. Akers,
If you’re a self-employed professional or small business owner earning a high, consistent income, you’ve likely maxed out traditional retirement options like a SEP IRA or Solo 401(k). But what if you could contribute far more while dramatically cutting your
If you’re age 70½ or older, there’s a smart, tax-efficient way to support the causes you care about and it just got even better under the One Big Beautiful Bill Act (OBBBA). The IRS allows certain retirement savers to make
When financial pressures rise or priorities change, many people start to wonder if they can cash out or sell their term life insurance policy. Maybe you no longer need the coverage, or maybe you’d like to recover some of the
If you’ve ever faced the financial and emotional blow of property damage, theft, or disaster, your first question after recovery might be: Can I claim this loss on my taxes? Unfortunately, the answer is complicated and for most individuals, not
Since its introduction in 2018, the Qualified Opportunity Fund (QOF) program has been one of the most powerful tools for taxpayers looking to reinvest capital gains while reducing and in some cases eliminating, their tax liabilities. Through these funds, billions
