Practical tax guidance, IRS updates, and planning strategies from an experienced CPA.
The IRS has announced annual inflation adjustments for more than 60 tax provisions. The standard deduction rises to $32,200 for married couples filing jointly and $16,100 for single filers, alongside updated tax brackets and credit amounts under the One, Big, Beautiful Bill.
Read Article ↗When starting a business, you must decide which form of entity to establish. This IRS overview compares the main options — sole proprietorship, partnership, corporation, S corporation, and LLC — and explains how your choice affects which tax return you file.
Read Article ↗An IRS audit is a review of an individual's or organization's records to verify that a return was reported correctly. Learn how returns are selected — through statistical sampling or related-taxpayer issues — the typical three-year audit window, and the records you should keep.
Read Article ↗A Roth IRA offers non-deductible contributions paired with potentially tax-free qualified withdrawals, no required distributions during your lifetime, and the ability to keep contributing after age 70½. This IRS page covers contribution limits based on your income and filing status.
Read Article ↗Taking a few steps before December 31 can make filing season smoother. The IRS recommends making charitable donations if you itemize, maximizing retirement plan contributions, updating your address, and renewing any expiring ITINs before year-end.
Read Article ↗Good records help you monitor your business's progress, prepare financial statements, track income and deductible expenses, and support the items reported on your tax return. This IRS guide covers what to keep, how long to keep it, and how to record transactions.
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