If you’re planning to purchase a new car—or recently did so—there’s an important new tax benefit you should be aware of. Starting in 2025, taxpayers may be eligible to deduct the interest paid on a new car loan—a deduction that has not been available for several decades. We want to ensure you’re informed about this…

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The Internal Revenue Service (IRS) has announced a significant change to its tax refund distribution process. Going forward, the IRS will no longer issue paper refund checks, except in limited circumstances. Instead, taxpayers will be required to receive their refunds electronically. In addition, the IRS has confirmed that electronic filing for the 2025 tax year…

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For Individuals and Small Business Owners Life happens. Financial stress, missing paperwork, or the demands of running a business can cause individuals and small business owners to miss the tax filing deadline. The good news is that filing late is common—and it is fixable. Below is what you need to know if you missed the…

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Many small business owners and self-employed professionals overpay in taxes simply because they are unaware of the deductions and credits available to them. With tax laws changing frequently, overlooked deductions can result in thousands of dollars in unnecessary tax payments—money that could be reinvested back into your business. Below are some of the most commonly…

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The Internal Revenue Service (IRS) has announced the 2026 standard mileage rates for taxpayers who use their vehicles for business, medical, charitable, or qualified moving purposes. Effective January 1, 2026, the business standard mileage rate will increase from 70 cents to 72.5 cents per mile. The medical mileage rate was decreased from 21 cents to…

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Here are some key takeaways from H.R. 1 – One Big Beautiful Bill Act (2025) from the point of view of a married couple—how the changes may affect your household, finances, and planning. 1. Tax and deduction benefits For couples who file jointly, the bill offers several tax advantages: If one or both spouses are…

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Finding a job can be a challenge and for certain groups, it can be even harder. The Work Opportunity Tax Credit is a federal tax credit available to employers for hiring individual from certain groups who consistently face significant barriers to employment. The Work Opportunity Tax Credit is available until Dec 31,2025, for employers that…

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When it comes to running a successful small business, every dollar counts. Yet every year, many owners miss out on valuable tax deductions — and with them, the chance to strengthen their cash flow and reinvest in growth. In 2025, smarter tax planning isn’t optional. It’s a financial strategy that can give your business a…

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WASHINGTON — As hurricane season peaks and wildfire risks remain high as well as the threat of tornadoes and flooding waters, the IRS urges individuals and businesses to create or update their emergency preparedness plans as part of National Preparedness Month. Disaster readiness starts with safeguarding critical documents, recording valuables and knowing how to access…

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1.Which energy credits and deductions are expiring under OBBB, and what are their new termination dates? The OBBB accelerated the termination of several energy credit and deduction provisions. Energy efficient home improvement credit The credit will not be allowed for any property placed in service after December 31, 2025. Residential clean energy credit The credit…

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