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Avoiding Common Tax Mistakes
What to watch out for and how to stay on track. Whether you’re filing a simple return or navigating more complex deductions and income sources, it’s easy to make costly tax mistakes. Many taxpayers unintentionally overpay, underreport, or set themselves up for IRS scrutiny by overlooking important details. Here are some of the most common…
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2025 TAX DEDUCTIONS AND RETIREMENT PLAN CONTRIBUTION LIMITS
TAX INFLATION ADJUSTMENTS1 The Internal Revenue Service announced the tax year 2025 annual inflation adjustments, including the tax rate schedules and other tax changes. The tax year 2025 adjustments described below generally apply to tax returns filed in 2026. The tax items for tax year 2025 of greatest interest to most taxpayers include the following dollar…
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Are we headed for a “tax cliff” in 2025?
Learn about what provisions are set to expire. The Tax Cuts and Jobs Act (TCJA), enacted in 2017, represents a significant transformation of the U.S. tax code. As the most substantial tax overhaul in recent decades, it introduced numerous changes that have far-reaching implications for taxpayers. However, many of its key provisions are set to…
