Tax Planning

  • Back-to-School Tax Planning: Education Credits and New Rules to Know

    Back-to-school season is a good time to remind clients that education expenses can have tax implications. The American Opportunity Tax Credit (AOTC) and Lifetime Learning Credit (LLC) remain two important federal tax benefits for higher education. Recent law changes also expand some education-related tax benefits, including qualified expenses for 529 plans and employer assistance with…

  • How to Handle Tax Season Delays with Extensions

    Tax season rarely goes exactly according to plan. Even the most organized firms face delays — missing client documents, late K-1s, or unexpected life events that derail timelines.  Extensions become inevitable. The challenge isn’t avoiding extensions altogether; it’s managing them strategically without burning out your team or frustrating your clients. Here’s how tax professionals can…

  • Featured Webinar: Best Practices for Extensions

    Tax extensions don’t have to mean stress or last-minute chaos. During this webinar, you’ll learn: – practical strategies for managing extensions work – keeping clients informed, and – staying organized through final filing deadlines. If you’re ready to work smarter—not longer—this webinar is for you. Complete the form below to access the on-demand recording and…

  • Updated Guidance on State and Local Tax (SALT) Deductions — What Tax Pros Need to Know

    As the 2025 tax filing season approaches, tax professionals should be prepared to advise clients on significant changes to the State and Local Tax (SALT) deduction rules — changes that materially impact itemized deductions for individuals and complicate planning for high‑income and high‑tax‑state taxpayers. Overview of New SALT Deduction Cap For tax years beginning in 2025 through…

  • Tax Filing Timeline: When Does E-File Start?

    The IRS will begin accepting individual returns on Monday, Jan. 26, 2026 More and more taxpayers are leaning towards the convenience and speed of electronic filing (e-file) leading to many of us wanting to know exactly when e-filing starts. The IRS will begin accepting individual returns on Monday, January 26, 2026. When Does E-Filing Start…

  • Secure Act 2.0 Retirement, Tax Reform, and OB3

    Secure Act 2.0 Retirement, Tax Reform, and OB3 For tax professionals, these provisions are more than legislative footnotes—they directly impact how you advise clients, calculate retirement-related taxes, and practice compliance with IRS requirements. Let’s break down these landmark updates and how The One Big Beautiful Act may or may not impact these provisions: Required Minimum…

  • Retirement Contribution Amounts Increased for 2024

    The Internal Revenue Service has passed along an early Christmas present of sorts to many taxpayers by increasing the maximum contribution amounts for 401(k) plans in 2024.  The contribution hike covers those employees who take part in 401(k), 403(b), or most 457 plans. Participants in the federal Thrift Savings Plan are also included in the…

  • 2022 Mileage Rates Increasing

    Due to rising gasoline prices, the Internal Revenue Service has taken the rare step of increasing its optional standard mileage rates for the last six months of the 2022 tax year. These rates are significant since taxpayers use them to calculate the deductible costs of operating a vehicle for business purposes.   Typically, the IRS…

  • IRS Sending Notices to Address Withholding Errors

    The Internal Revenue Service is giving some filers a firm but friendly tap on the shoulder, letting them know some of the forms they’ve filed don’t match up with the agency’s records. Financial institutions, businesses or even regular individual taxpayers could see a notice in the mail. The notices, CP2100 or CP2100A, go out twice…

  • IRS Issues Reminder for Q1 Estimated Tax Payment Deadline

    For millions of American taxpayers, all that stands between them and a big tax bill when they file are estimated tax payments. By putting away funds every quarter for their income taxes throughout the tax year, self-employed taxpayers, retirees and investors, in addition to businesses, corporations and others, help to ensure they have the means…