by Service2Client | Feb 1, 2025 | Blog, Tax and Financial News
As 2025 unfolds, U.S. tax policy is poised for significant shifts, particularly with a new Republican administration under President Donald Trump. The year ahead will likely see a range of tax reforms, largely driven by the GOP’s objectives and campaign...
by Service2Client | Jan 1, 2025 | Blog, Tax and Financial News
The word “innocent” in innocent spouse relief can be misleading. It doesn’t imply you’re perfect or blameless – it’s more about whether you knew or should have known about the tax issue. The IRS defines “innocence” in a...
by Service2Client | Dec 1, 2024 | Blog, Tax and Financial News
Personal Income Tax Planning Strategies for Year-End 2024As 2024 draws to a close, it’s the perfect time to review your personal income tax situation and implement strategies to minimize your tax liability for the year. Proactive year-end tax planning can lead...
by Service2Client | Nov 1, 2024 | Blog, Tax and Financial News
According to estimates, inflation adjustments to the internal revenue code are expected to yield increases of 2.8 percent compared to 2024 amounts. This means wider tax brackets and increased exemptions, among other things. With the U.S. Bureau of Labor Statistics...
by Service2Client | Oct 1, 2024 | Blog, Tax and Financial News
Former President and current candidate Donald Trump introduced a new policy of his in a recent Arizona rally: No more income tax on overtime pay. This follows both Trump and Vice President Harris’ proposal for a no income tax on tips policy, as well.Below we...
by Service2Client | Sep 1, 2024 | Blog, Tax and Financial News
On Jan. 1, 2024, the U.S. government debuted the Corporate Transparency Act (CTA). This legislation established the requirement for the majority of private companies, both big and small, to file information with the Financial Crimes Enforcement Network (FinCEN).As...
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