industry news

So, you're saving money for a financially secure retirement. Good for you! Just make sure you're not overlooking one of the biggest factors that could make or break your nest egg: taxes. Many retirees don't consider how taxes will affect their [...]

Taxpayers can now access their Section 530A accounts (also known as "Trump Accounts") and submit and view the status of Form 4547, "Trump Account Election(s)," through their IRS individual online accounts. A Sec. 530A account can be set up for any [...]

Home renovations can improve a residence's comfort, functionality, aesthetics and resale value. They might also provide tax benefits. You may be able to deduct mortgage interest on debt used to substantially improve your home. Certain improvements can also increase your tax [...]

The IRS is warning taxpayers to be on the lookout for fraudulent versions of Notice CP53E, as scammers attempt to steal personal and financial information. A legitimate IRS CP53E notice is sent when the IRS needs a taxpayer to provide or [...]

    Many people assume that retirement automatically means lower taxes, simpler tax returns, and fewer tax-planning concerns. While that may be the case for some retirees, the reality is often more complex. Income from Social Security benefits, pension payments, required [...]

When it comes to building long-term retirement savings, few opportunities are as powerful and tax-advantaged as participating in your employer-sponsored 401(k) plan. A 401(k) can help you grow your retirement nest egg through tax benefits, employer matching contributions, and the potential [...]

Year end is here, but there's still time for individual taxpayers to make moves to lower their 2025 tax bills. The One Big Beautiful Bill Act (OBBBA), which became law in July, provides some welcome certainty for the next few years. [...]

The holiday season is right around the corner, and that's when many charitably inclined people start to think about year-end donations to their favorite charities. When planning your charitable contributions, don't forget about the potential tax breaks for your generosity.   The [...]

The One Big Beautiful Bill Act (OBBBA) introduces three potentially valuable tax breaks for individual taxpayers that weren't previously available. And you don't have to itemize deductions to take advantage of them. Do you qualify? Read on and find out. 1. [...]

The One, Big, Beautiful Bill Act (OBBBA), which was enacted on July 4, generally extends and expands tax provisions that were scheduled to expire at year end. Here are seven valuable tax breaks that might benefit your family:    1. Child [...]