Parents, grandparents and others can now contribute to Internal Revenue Code Section 530A accounts — also known as "Trump Accounts" — to benefit eligible children. This new type...
Taxes
Federal Tax News for Businesses
Transfer Pricing Compliance Is Critical The IRS and other federal agencies have proposed new rules that could expand employers' ability to provide fertility benefits to employees...
Records Retention: What to Keep, What to Toss and Why It Matters
With tax season in the rearview mirror, many individuals and business owners wonder how long they should hold on to tax-related records — and what can safely be discarded....
New 1099 Rules May Bring Relief to Some Businesses
The One Big Beautiful Bill Act (OBBBA) has garnered headlines for extending dozens of tax provisions and creating new tax-saving opportunities for individuals and businesses. But...
Recent Tax Law Changes: 10 Provisions Employers Need to Know
The One Big Beautiful Bill Act (OBBBA) includes a number of tax law changes that affect employers. Here are 10 key provisions employers need to understand to ensure compliance...
Unwrap the New Tax Rules for Charitable Donations
The holiday season is right around the corner, and that's when many charitably inclined people start to think about year-end donations to their favorite charities. When planning...
Beware: Large Cash Payments May Require Extra Tax Filings
The IRS requires taxpayers to follow strict rules for reporting cash transactions above $10,000. This requirement affects everyone, from an independent contractor to a retailer...
QBI Deduction: How the OBBBA Improves the Rules
Many owners of pass-through businesses and self-employed individuals have taken advantage of the Section 199A qualified business income (QBI) deduction. Created by the Tax Cuts...
New Trustees’ Report: Social Security Benefits Update and the Tax Angles
The Social Security Board of Trustees recently released "The 2025 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability...
Surviving an Earnout Provision in a Business Sale
If you're selling a business, the buyer may want to pay part of the price through an earnout provision. This is a contractual arrangement in which the seller receives additional...
