The One Big Beautiful Bill Act reshapes charitable tax planning for 2026. Itemizers can still deduct gifts to qualified charities, but only the amount that...
Closing a business can be overwhelming. But don’t let tax duties fall through the cracks. File a federal income tax return for your business’s final ye...
The Republican Study Committee (RSC), made up of conservative U.S. House members, has released its framework for a new budget reconciliation bill. Included...
Your marital status affects many federal tax filing variables, including your standard deduction, credit eligibility and tax owed. If you’re currently ...
The IRS could face another budget cut this year. The House recently passed legislation that would reduce funding for the tax agency by approximately $1.1 b...
The IRS confirmed that the one-time supplemental housing payments issued to uniformed service members in December 2025 aren’t subject to federal income t...
On Jan. 16, the U.S. Dept. of Education announced a temporary delay of involuntary collections on defaulted federal student loans. For now, borrowers who a...
After divorce or legal separation, IRS rules determine which parent can claim many child-related federal income tax breaks. Generally, the parent with whom...
In general, companies can deduct rent as a business expense on their federal tax return. However, several rules limit this tax break. For example, payments...
The balance sheet shows your company’s financial condition — its assets vs. liabilities — at a specific point in time. However, the balance sheet is ...
