Address Digital Assets in Your Estate Plan
Today, almost everyone owns some sort of digital asset – and some of these assets can be quite valuable. But if your estate plan doesn’t account for digital assets property, your heirs may not be able to access them. So, factoring these intangibles into your estate plan is essential. What Are Digital Assets? Financial transactions are
Get Our Latest Insights on the Topics that matter most to you
Update on the First-Year Depreciation Tax Rules for Businesses
The One Big Beautiful Bill Act (OBBBA) included favorable changes to the federal income tax rules for depreciating business assets. There are annual inflation adjustments to keep track of, as well. Here’s an update on the first-year depreciation rules for yet-to-be-filed 2025 federal income tax returns and the 2026 tax year. 100% First-Year Bonus Depreciation
Are You Up to Speed on the Auto Loan Interest Deduction?
The One Big Beautiful Bill Act (OBBBA), enacted in the summer of 2025, includes a new temporary federal income tax deduction for auto loan interest. On January 2, 2026, the IRS published in the Federal Register proposed regulations addressing the write-off — which is available regardless of whether taxpayers itemize on their tax returns —
Hit the Breaks: 2026 Tax Write-Offs for Business Driving
At the end of last year, the IRS announced its annual inflation adjustments to the optional standard mileage rates used to calculate the deductible vehicle operating costs for business, charitable, medical, or moving purposes. And there’s good news for those who drive for work: The cents-per-mile deduction increased for this year — even though the
The Tax Impact of a Home Sale in Divorce
Home sales often occur during or shortly after a divorce. With real estate values still at or near historical highs in many areas, the federal income tax exclusion for gains on the sale of a principal residence can help. However, divorcing individuals must plan carefully to maximize this tax break. Gain Exclusion Basics An unmarried
Deducting Business Meal and Entertainment Expenses Today
Do you know the current rules for claiming tax deductions for business meals and entertainment? Whether you’re wining and dining a prospective customer or taking an employee to lunch, you might be confused about what’s deductible — and you’re not alone. The federal income tax treatment of meals and entertainment expenses has been a moving
Take Advantage of SIMPLE-IRA Catch-Up Contributions
If you participate in a SIMPLE-IRA and are age 50 or older, you can make so-called catch-up contributions that are above and beyond what younger participants can contribute. These catch-up contributions are intended to address the fact that many people aren’t saving enough for retirement. Here’s what you need to know about SIMPLE-IRA catch-up contributions,
Extended Hours for Busy Season
It’s officially tax season, which means our extended hours have begun! Our office is open Monday through Friday from 7:30 AM to 5:30 PM and Saturdays from 8:00 AM to 1:00 PM. Feel free to stop by during these hours to drop off any tax documents or paperwork you may have. We’re here to help
Are You Ready for the New Roth Catch-Up Contribution Rules?
Catch-up contributions have long been a way for taxpayers to put more dollars into their retirement accounts as they get older. But the Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act, enacted in 2022, included a major change to the catch-up contribution rules for higher-income taxpayers — and employers that sponsor qualified retirement
CCRCs: Key Tax Implications for Residents
The demand for long-term care facilities in the United States continues to rise, along with the costs. Someone who turns 65 today has roughly a 70% chance of eventually requiring long-term care services, according to the latest data from the U.S. Department of Health and Human Services. Moreover, 20% of seniors will need it for