On July 1, 2025, the Senate passed its version of the One Big Beautiful Bill Act which was officially signed by President Trump on July 4, 2025. This bill imposed numerous tax changes that are particularly relevant for high-net-worth individuals and their financial planning. Many of these provisions made soon-to-expire tax rules permanent and introduced...
One of the material changes made to the tax code resultant of the 2018 tax reform is that the business entertainment deduction has been suspended until 2026. It’s not just large enterprises that are affected by this law, but also small businesses, freelancers, solopreneurs, and other self-employed individuals who may now be changing their plans and budgets depending...
The federal income tax was first enacted in 1913. The tax code was relatively concise, and in these simpler times family businesses were once the backbone of the US economy. The tax code is now several million words long and requires a vast majority of people to use a tax professional in order to navigate it....
Buying, leasing, fueling, and maintaining a car can take a big bite out of your budget. Fortunately, these car expenses can also take a big bite out of your taxes if you keep excellent records. Whether you’re a rideshare driver or you use your car frequently in a trade or business, you might be overlooking some...
With 2017 quickly coming to a close, you definitely want to think about last-minute maneuvers that can help you save a significant amount of taxes. If you have an investment portfolio, now is definitely the time to think about whether you want to sell or hold your assets if doing so will have tax impacts....
As the holidays loom closer, you might be thinking about opening your heart and pocketbook and giving to the causes and people that you care about. The holidays indeed evoke generosity in most people to give all that they can. But there’s also good reason that the holiday season is when nonprofits get major boosts...
Identity theft has became a major problem in recent years. Cybercriminals are only becoming more effective at what they do whether they are acting alone or with major crime syndicates: in many cases, they only need a name to get started on stealing your assets and opening fraudulent accounts in your name. Additionally, too many...
The gig economy isn’t going anywhere anytime soon: whether you’ve got an extra seat in your car for the night or a powerdrill you’d like to put to use, the whole world of app-driven side hustles has helped people pay their bills or even serve as stopgaps for career changes. And the tax authorities have certainly...