Author: taxsecretsblog

As electric vehicle (EV) adoption accelerates across the U.S., states are grappling with a major funding dilemma: how to replace the billions of dollars traditionally generated by gasoline taxes, which have long funded infrastructure and road maintenance. Since EVs don’t use gasoline, their owners don’t

Picture This… It’s Monday morning. You’re running on caffeine fumes and a sliver of hope as you open the mail. Then—bam—you see it. A letter from the IRS. You scan the page, your eyes land on those dreadful words: “Wage Garnishment.” Your heart plummets. Questions come

This is part of a series of articles to tax clients to help you keep up to date on what is going on in Capitol Hill on tax related issues so you can plan appropriately. Please contact this office with questions. In our last bulletin

Article Highlights: As a Person with a Disability Additional Standard Deduction Gross Income Impairment-Related Work Expenses Credit for the Elderly or Disabled Medical Expenses Home Modifications for Disabilities Qualified Retirement Savings Contributions Earned Income Tax Credit As a Parent of a Child with a Disability

This is the third in a series of articles for clients to keep them updated on the thinking on Capitol Hill on proposed changes so you can plan appropriately. The future of the SALT deduction limitation is uncertain and heavily dependent on the political landscape.

Article Highlights: Retirement Savings Contributions Credit Understanding the Saver’s Credit Who Qualifies for the Saver’s Credit? Qualifying Retirement Plan Contributions Adjusted Gross Income (AGI) Limitations Credit Percentages and Maximum Credits The Testing Period Planning Ahead for Retirement Savings Planning for retirement might seem like a

QuickBooks is one of the most powerful tools on the market for managing small business finances, but getting started can feel daunting. Setting up your account properly and taking advantage of key features is the best way to save time and avoid headaches when tax

Running a small business is a round-the-clock hustle. You juggle employees, invoices, marketing, and a million other tasks that always demand your attention. The last thing you want is to overlook a perfectly legal tax deduction that could save you thousands—or worse, get stuck paying

Winning a $1.26 billion Mega Millions jackpot is a dream come true—but it’s also the beginning of a whirlwind of decisions that can make or break a winner’s financial future. For the California resident holding last year’s golden ticket, tax season will be anything but

Article Highlights:   What is an IP-PIN? The Role of IP-PIN in Identity Theft Cases How the IP-PIN Works Eligibility and Application Process Benefits of Using an IP-PIN Challenges and Considerations In an era where identity theft is a growing concern, safeguarding personal information has