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Make sure you can substantiate your 2025 charitable donations
Charitable donations can be a powerful tax saver for anyone who itemizes deductions. But you must obtain proper substantiation.
How the new Trump Account for children will work
If you have a child born in 2025 through 2028, you might want to set up a Trump Account to receive a free $1,000 government contribution.
There’s still time to set up a SEP and reduce your 2025 taxes
A SEP retirement plan is easy to establish and a powerful retroactive tax planning tool for business owners and the self-employed.
Tax Filing FAQs for individual income tax returns
The IRS is opening the filing season for 2025 individual income tax returns on January 26. Here are answers to some tax filing FAQs to help.
Not all business expenses are tax deductible
As you determine what business expenses you can write off on your tax return, keep in mind the “ordinary and necessary” rule.
Checking off RMDs on the year-end to-do list
RMDs usually must be taken by December 31. If you don’t comply, you can owe a penalty equal to 25% of the amount you should have withdrawn.
6 last-minute tax planning tips for businesses
Year-round tax planning generally produces the best results, but there are some steps you can take in December to lower your 2025 taxes.
There’s still time to reduce your 2025 income tax
Just because it’s December doesn’t mean it’s too late to reduce your 2025 tax liability. Consider implementing these ideas before Dec. 31.
New deduction for QPP can save significant taxes for manufacturers
Could your manufacturing business qualify for the 100% bonus depreciation on new qualified production property?
Boost your tax savings by donating appreciated stock instead of cash
Are you charitably inclined and looking for a powerful year-end tax-saving strategy? Consider donating appreciated publicly traded stock.
How small business owners can deduct real estate improvements
Recent tax law changes have significantly enhanced first-year depreciation tax breaks for real estate improvements
Is an HSA a financially smart health care option for you?
Health Savings Accounts offer several valuable tax benefits. But you can contribute to an HSA only if you have a high-deductible health plan.
Read something interesting? Want more information? Give us a call, and we will be happy to assist you in any way we can.
Washington, NC 27889
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