Tax-Saving Tips 1. Brutal IRS Trap Wipes Out Goodwill Clothing Deductions If you donate clothing or household goods to charity, there’s an IRS trap you need to know about. In a recent Tax Court case, a taxpayer lost a $6,760 charitable deduction—not because the...
Tax-Saving Tips USPS’s New Postmark Rules Set an Ugly Trap for Taxpayers For decades, taxpayers trusted a simple rule: If you mailed a tax return or payment by the deadline, the IRS treated it as timely filed. Recent U.S. Postal Service (USPS) practices have changed...
Should You Skip Home-Office Depreciation to Dodge Recapture? Many taxpayers panic when they hear the term “depreciation recapture” and decide to skip depreciation on a home office to avoid future tax. That strategy usually backfires. The tax law creates unexpected...
Form 1099-DA Is Here—How It Will Impact Your Crypto Taxes After four years of work, the IRS has finalized its cryptocurrency regulations, and crypto tax reporting now begins. Starting with the 2025 tax year, custodial crypto platforms must report taxable crypto...
We want to take a moment to remind you about the upcoming 1099 reporting requirements. The 1099 form is used to report various types of income, and as our valued client, we want to ensure that you have all the necessary information to comply with the Internal Revenue...
Your 2025 Year-End Tax Planning Guide As we approach the end of 2025, there’s still time to take action and make a real difference in your tax outcome for the year. With thoughtful planning and a few strategic steps, you can reduce your tax bill, strengthen your...
