In Part 1 of the Trust Taxation series, we introduced how trust distributions can shift the income tax burden from the...
Trust Taxation Basics: Understanding Distributable Net Income (DNI) – Part 2
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QuickBooks Payroll Tax Settings Update
QuickBooks is changing their automated payroll tax settings. What exactly is QuickBooks changing? Starting July 1, 2026,...
“No Tax on Tips” – Final IRS Regulations and What They Mean for You
Overview The Internal Revenue Service (IRS) has finalized regulations implementing the “No Tax on Tips” provision enacted...
Trust Taxation Basics: Who Pays the Tax? – Part 1
One of the most common questions trustees face is: Who is responsible for paying income tax—the trust or the beneficiary?...
QuickBooks On-Demand Pay: What Employers Need to Know
QuickBooks recently announced a new feature called On-Demand Pay that will be added automatically to QuickBooks Payroll...
Changes to Energy Credits Under OBBBA
The One Big Beautiful Bill Act (OBBBA), enacted July 4, 2025, introduces significant changes to federal energy tax credits,...
Above the Line Deduction Summary – Overtime, Tips, Car Interest, and Charity
With the passing of the One Big Beautiful Bill (OBBBA) on July 4th, 2025, many changes have been made that could affect...
Charitable Contributions OBBBA
The One Big Beautiful Bill: Charitable Contribution Deductions With the One Big Beautiful Bill Act (OBBBA) there are...
OBBBA: Opportunity Zone Fund Changes
The Opportunity Zones (OZ) program, created by the Tax Cuts and Jobs Act of 2017, encourages investment in low-income...
Estate & Gift Tax Exemption Permanently Increase
In 2017, the Tax Cuts and Jobs Act temporarily increased the federal estate and gift tax lifetime exemption. This is the...
OBBBA: What’s Changing for Itemized Deductions
As the sunset of the Tax Cuts and Jobs Act (TCJA) of 2017 approaches, the One Big Beautiful Bill Act (OBBBA) of 2025...
1099-K, 1099-NEC, & 1099-MISC Reporting Rule Changes
The One Big Beautiful Bill Act (OBBBA) has made a plethora of changes to the tax law. One of these changes involves how we...