Every year, the Internal Revenue Service (IRS) announces cost-of-living adjustments that impact contribution limits for retirement plans, as well as various tax deductions, exclusions, exemptions, and thresholds. We look at some of the key adjustments for 2025.
Stay ahead of the game with our handy 2025 Annual Limits Relating to Financial Planning—your go-to resource for all the key numbers and annual limits that impact your financial strategy. This comprehensive PDF includes updated tax brackets, retirement contribution limits, Social Security figures, gifting exclusions, and more.
Issuing 1099s might not be glamorous, but it’s essential for small business compliance. Learn the rules and how we can help you stay on track.
Divorce or separation brings many challenges, including deciding who gets to claim the kids on their taxes. From custodial parent rules to Form 8332 and tax credits, understanding the IRS guidelines is key to maximizing benefits and avoiding mistakes
The IRS is adjusting how it tracks online payments and e-commerce income, with significant changes to Form 1099-K thresholds. Starting in 2024, transactions totaling $5,000 or more will trigger a 1099-K form, with further reductions planned in the coming years.
Navigating the rules for meal expense deductions can be tricky, but understanding the 50% rule and its exceptions can help your business maximize deductions while staying compliant.
Estate planning isn’t just about creating a will—it’s about ensuring your wishes are honored. Discover why keeping your beneficiary designations current matters and how to avoid potential pitfalls in your estate plan.
From a couple returning their refund check out of gratitude to a man claiming his dog as a dependent, the world of taxes has its fair share of odd and entertaining stories. These humorous anecdotes highlight the creativity—and occasional missteps—of taxpayers over the years.
Cash flow is the lifeline of your business, but did you know tax credits could be the boost you need to fuel growth? Learn how to unlock powerful tax credits that keep more cash in your business and support sustainable growth.
As the year ends, it’s time to evaluate your stock portfolio and optimize your tax position. Whether it’s offsetting gains with losses, leveraging the 0% capital gains tax rate, or donating appreciated securities, there are many opportunities close the year strong.
