Tax Deductions You Can Claim Without Itemizing
Filing taxes often comes down to one big decision: should you take the standard deduction or choose to itemize? While itemizing can unlock tax deductions for items such as mortgage interest, medical expenses, and charitable contributions, it’s not always the best path for everyone. The majority of taxpayers actually benefit more from the standard deduction, […]
IRS 6-Year Rule: What Every Taxpayer Should Know
Taxes can feel complicated enough without the added pressure of not knowing how far back the IRS can dig into your financial past. One of the most common concerns for individuals who may have unfiled returns or who are worried about an IRS audit is the “6-Year Rule.” This rule isn’t always straightforward, but understanding […]
$600 Threshold Delayed: What to Know About IRS 1099-K
The IRS has hit the brakes on the highly debated $600 reporting threshold for Form 1099-K, giving taxpayers and businesses more breathing room before stricter reporting kicks in. With the $600 threshold delayed, this rule, originally set by the American Rescue Plan Act of 2021, aimed to ensure gig workers, online sellers, and freelancers paid […]
Inheriting an IRA? Here’s How to Avoid Costly Mistakes
Inheriting an Individual Retirement Account (IRA) can be both a blessing and a challenge. On one hand, it can give you a substantial boost in building financial security. On the other hand, it comes with rules, deadlines, and tax implications that can quickly eat into the value of your inheritance if you’re not careful. Many […]
Standard Deduction Boost 2025: What It Means for Your Taxes
The new standard deduction for 2025 is here, and it represents one of the most significant tax updates in recent years. Thanks to the One Big Beautiful Bill combined with the IRS’s annual inflation adjustments, millions of Americans will see an immediate reduction in their taxable income. In practical terms, this means the government is […]
Clean Vehicle Tax Credits Ending Soon
If you have been waiting for the perfect moment to purchase a clean vehicle, that moment has officially arrived. Significant federal clean vehicle tax credits, designed to make eco-friendly vehicle ownership more affordable, are set to expire after September 30, 2025, years earlier than originally planned. This accelerated deadline means there is now a narrow […]
CalSavers Now Applies to Small Employers — Here’s What to Do
If you’re a business owner in California with even one W-2 employee, a new legal obligation is now on your plate. As of December 31, 2025, you are required to either register for CalSavers, the state’s mandatory retirement savings program, or certify an exemption if you already offer a qualified retirement plan. This mandate, previously […]
Tax Deadline: Don’t Miss LA County’s Extended Filing Date
If you live in or operate a business within Los Angeles County, your time to file 2024 taxes is quickly running out. Due to federally declared wildfire disasters, both the IRS and California Franchise Tax Board granted automatic extensions for most tax filings and payments. That extended tax deadline? It’s coming up fast: October 15, […]
One Big Beautiful Bill: What It Means for Your Taxes
On July 4, 2025, President Trump signed into law one of the most consequential tax and spending packages in recent years, officially known as the American Prosperity and Security Act, but more commonly called “One Big Beautiful Bill.” Passed by the narrowest of margins in the Senate, this bill delivers sweeping changes to the tax […]
IRS Workforce: Why the Cuts Should Concern Your Business
A quieter but significant shift is happening within the IRS workforce, and it could have lasting consequences for businesses across the country. Over the past year, the IRS has lost more than 11,000 employees, representing approximately 11% of its total workforce. These staffing cuts are not evenly distributed; they have hit the IRS workforce hardest […]
