Tax

Each year, the IRS adjust tax brackets, deductions, and credits to account for inflation. In 2025, these changes could impact how much you owe or save on taxes. Find out below how you can be prepared for the IRS’s 2025 tax adjustments.

The standard deduction is getting a nice bump in 2025, and that means more money in your pocket! For individual taxpayers, this change could be a game-changer when it comes to tax time. The good news is that this increase in the standard deduction 2025 will help reduce your taxable income, but how can you maximize this

As the Internal Revenue Service (IRS) announces 2025 inflation adjustments, taxpayers across the country should take note of changes that may affect their finances. These annual updates adjust tax brackets, standard deductions, and other provisions to reflect inflation and maintain fairness in the tax code.

Recent discussions in Congress propose reducing Medicaid funding to finance other initiatives, such as extending tax cuts. These proposed Medicaid cuts could have significant implications for taxpayers, particularly those with low incomes.

Recent discussions about Medicaid funding cuts have raised concerns about their potential impact on businesses. These proposed reductions are aimed at financing other initiatives like tax cuts and increased border security. They could lead to significant changes in tax laws and employer-sponsored healthcare obligations.

As of January 1, 2026, the estate tax exemption is scheduled to decrease significantly. Currently, in 2025, the exemption stands at $13.99 million per individual. Without legislative changes, this amount will revert to approximately $7 million in 2026.

An IRS audit can be overwhelming and stressful, but having a ta professional by your side can make all the difference. Here’s why you should deal with an audit with proper guidance.

The 179D deduction for energy-efficient buildings offers significant tax savings for commercial building owners and designers. This program is designed to encourage energy efficiency by offering deductions for qualifying upgrades or new construction that meet specific energy-saving standards.

Small businesses often face challenges in managing expenses while investing in equipment essential for operations. One of the most effective strategies to reduce taxable income is depreciation for small businesses. By leveraging depreciation, small businesses can offset the cost of equipment over time, improving cash flow and optimizing tax savings.

The Alternative Minimum Tax for business owners is a parallel tax system designed to ensure businesses with high income and significant deductions pay their fair share of taxes. While this may sound straightforward, it can introduce unexpected tax obligations. Understanding how it works can help businesses manage their financial planning with greater precision.