Summer is around the corner and you may be planning a picnic or other outing for your employees. When doing so, keep tax deductions in mind. Most entertainment expenses currently aren’t deductible, but you...

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After a second vote, the budget reconciliation bill, dubbed “The One, Big, Beautiful Bill,” cleared the House Budget Committee. The House Rules Committee will now establish the rules governing the debate and vote on...

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Summer is coming, a time when many students and others earn money through the gig economy. This means they use online platforms to find and perform on-demand work and provide services. Regardless of how...

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Most kids will soon be out of school for the summer and many will head to summer camp. Sending your child to a summer day camp while you work may count as an expense...

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After 33 years, the U.S. Environmental Protection Agency (EPA) plans to sunset the Energy Star program. This public/private partnership certifies energy-efficient appliances and other products that meet certain federal government standards. The popular program...

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If you’re covered by a high-deductible health plan (HDHP), you can contribute pretax income to a Health Savings Account (HSA) up to certain limits. Funds can be withdrawn tax-free to pay qualified medical expenses....

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In a tight labor market, employers may seek to fill the gaps by turning to independent contractors. If this is your plan, and you expect to pay the contractor at least $600, be sure...

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The tax filing deadline has passed for most of us, but not for all. For example, the IRS is reminding tax-exempt entities that they must file their 2024 returns by May 15. Those who...

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If you’ve recently sold your home and realized a capital gain, you may be able to exclude some or all of the gain from the sale. To claim the exclusion, you must pass IRS...

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Recently, the IRS issued Notice 2025-22, announcing cuts of multiple “extraneous and unnecessary” IRS notices, announcements and revenue rulings. Similarly, the U.S. Treasury Department has released a direct final rule (https://bit.ly/3RYTcDb  ) to abolish...

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