The One Big Beautiful Bill Act (OBBBA) increased the annual cap on the personal deduction for state and local taxes (SALT) from $10,000 to $40,000 for 2025 through 2029 (with a high-income phase-down). So it’s fair to ask: is a PTET election after OBBBA still worth it? In many cases, yes. Even with a higher […]
The IRS paper refund checks phaseout is officially underway. Beginning September 30, 2025, the IRS started phasing out paper refund checks for individual taxpayers as part of a broader federal push toward electronic payments. Here’s what’s changing, what’s not changing, and what you should do now so you don’t trigger unnecessary delays when you’re expecting […]
Starting with the 2025 tax year, the IRS is officially turning on a new spotlight for digital assets: Form 1099-DA. If you use centralized exchanges, hosted wallets, or payment processors to buy, sell, or spend crypto, you can expect this new form to land in your inbox in early 2026—along with a lot more attention […]
If you're a business owner with kids, aging parents, or a big relationship change on the horizon, there are several 2025 last-minute tax strategies for families you can still use before December 31. The right moves can shift income into lower brackets, turn family help into deductible wages, and keep more of your investment gains […]
2025 Section 199A tax reduction strategies can meaningfully improve your qualified business income (QBI) deduction before year‑end, especially under the updated 2025 rules. With everything that changed in 2025, it’s easy to forget about the Section 199A qualified business income (QBI) deduction. Thanks to the One Big Beautiful Bill Act (OBBBA), this powerful pass-through deduction […]
If you need a replacement business car, SUV, van, or pickup and you’d love more write-offs before December 31, 2025, the 2025 OBBBA vehicle tax deductions can be a big win. Thanks to the One Big Beautiful Bill Act (OBBBA), certain vehicles can be written off almost entirely in the first year, while others get […]
New to crypto tax terms? Explore our quick-reference Crypto Tax Glossary for Business Owners to understand key concepts before diving in. 2025 has been a big year for cryptocurrency. If you’ve held Bitcoin or other digital assets through new highs, your portfolio might look great on paper—but that also means a bigger potential tax bill. […]
The clock is ticking on 2025. Your retirement is one year closer, and you still have time before December 31 to lock in powerful 2025 year-end retirement deductions. With a few intentional moves, you can: Below are five opportunities to review before December 31. The limits and thresholds here reflect the IRS’s 2025 inflation adjustments. […]
If you run a small business with fewer than 50 employees, your 2025 year-end medical plan strategies can make a big difference in how much tax you pay and how well you take care of your team. The law doesn’t force you to offer a health plan if you have under 50 employees – but […]