Don’t procrastinate. If you want the vehicle deduction, you need to (a) own the vehicle, and (b) place it in business service on or before December 31, 2025.

By taking the actions described in this article, you might find several thousand dollars (and maybe much more) in your pocket. But you’ll need to act now to get the cash.

All the effort that financial planner Ty Tannick has spent chasing prospective billionaire client Lou Sitania is about to pay off.

Alife insurance policy is like the proverbial pot of gold at the end of the rainbow.

The Internal Revenue Service and Treasury Department announced paper refund checks for individual taxpayers will be phased out beginning Sept. 30, 2025, per the executive order from President Trump signed in March.

Tax rates for 2025 are set by the Tax Cuts and Jobs Act (TCJA) at 10%, 12%, 22%, 24%, 32%, 35%, and 37%.
Effective 2026, the OBBBA sets permanent individual tax rates at 10%, 12%, 22%, 24%, 32%, 35%, and 37%, replacing scheduled higher post-TCJA rates.

The One Big Beautiful Bill Act (OBBBA) makes many provisions from the 2017 Tax Cuts and Jobs Act (TCJA) permanent.

However, the IRS later issued a statement clarifying that an official start date for the 2026 filing season has not yet been determined, according to The Tax Adviser. The agency stated that it would announce the timing of the opening in due course.

Tax Code Section Individual income tax rates

The IRS has outlined key provisions of the One Big Beautiful Bill Act (P.L. 119-21), signed into law on July 4, 2025, that introduce new deductions beginning in tax year 2025. The deductions apply through 2028 and cover qualified tips, overtime pay, car loan interest, and a special allowance for seniors.

It’s hard for New York tax issues to get any bandwidth with the federal government turning on tariffs, turning off tariffs, arguing about SALT deduction caps, proposing to take away pass-through entity taxes for certain businesses, etc.

AICPA leaders said Sunday the IRS should consider the needs of taxpayers and preparers as officials make plans to carry out President Donald Trump’s direction to cut the federal workforce.

WASHINGTON — The Internal Revenue Service today announced that the nation’s 2025 tax season will start on Monday, Jan. 27, 2025, and will feature expanded and enhanced tools to help taxpayers as a result of the agency’s historic modernization efforts.

The State and Local Tax Deduction (SALT) allows taxpayers who itemize expenses when filing their federal taxes to deduct certain taxes paid to state and local governments.

Yesterday, we reported that the Fifth Circuit Court of Appeals immediately reinstated FinCEN BOI filing requirements. But there’s good news—later yesterday, the Treasury Department extended key deadlines to allow more time for compliance.

A U.S. District Judge issued a nationwide preliminary injunction prohibiting FinCEN from enforcing the Corporate Transparency Act (CTA) and the final rule implementing it (Reporting Rule) on Dec. 3 in the case Texas Top Cop Shop, Inc. v. Garland (E.D. Tex.).

Home About Us Services Individual Services Business Services Farm Services IRS/Tax Issues Racing Services FAQ’s News Contact Us Call Us 2022-2023 Tax Brackets Changing America’s income tax rates are staying…

For the business owner and tax practitioner, the most important part of the Inflation Reduction Act of 2022 was not the tax credit for flashy new electric cars.

A new law that requires cash apps and online marketplaces, including Venmo and eBay, to send tax documents to millions of Americans is ensnaring a surprising demographic: the wealthy.