Spring cleaning is usually associated with closets, garages, and storage rooms, but financial clutter can accumulate just as easily, and often with greater long-term cost. Recurring charges, dormant accounts, and overlooked assets rarely attract attention because none of them feel urgent on their own. Even modest inefficiencies can gradually erode cash flow and make your… [keep reading…]
Category: Tax
Changes in USPS Postmarks
With tax season deadlines looming, we would like to make sure you are aware that the United States Postal Service (USPS) has recently issued changes regarding postmarking mail. Effective December 24, 2025, the postmark date may no longer match the day the mail was dropped off or picked up at processing facilities but now reflects… [keep reading…]
Why Estate Taxes Aren’t the Only Inheritance-Related Costs to Consider
Estate planning discussions often focus on the federal estate tax exemption, but most families face different challenges when transferring wealth. Probate fees, state-level taxes, capital gains exposure, and administrative complexity can all erode inheritances – even for estates well below the federal threshold. A comprehensive estate plan addresses these hidden costs, not just headline tax numbers.
IRS Clarifies 100% First-Year Bonus Depreciation Rules
The IRS recently issued new guidance clarifying how the permanent 100% bonus depreciation deduction will work moving forward. This allows businesses to fully deduct the cost of qualified property in the year it’s placed in service, rather than depreciating it over several years.
Your 2026 Tax Season Survival Guide
For most people, tax season brings a quiet panic about what they might be forgetting and a last-minute rush to pull everything together before the deadline. But it doesn’t have to be that way. With just a little preparation, you can avoid surprises, minimize your tax bill, and make the entire process smoother for both you and your advisor.
Staying Ahead of New York’s Construction Law Changes in 2026
As the new year begins, New York State enacted several important legislative changes that will directly affect businesses operations for contractors doing business in the state. These include Senate Bill S2536A, which relates to the inclusion of certain off-site custom fabrication as public work for the purposes of payment of prevailing wage, as well as… [keep reading…]
It’s Time! What to Prepare for Tax Year 2025 Filing
Whether you’re an individual taxpayer or business owner, preparing early for tax time can reduce delays, minimize errors, and help your tax pros do their best work on your behalf. Our team has put together a practical guide to get you started on the right foot this tax season, including key deadlines, commonly required documents, and planning considerations.
2025 Year End Tax Planning for Businesses
As 2025 draws to a close, business owners have more certainty regarding many tax provisions that were previously set to expire. The One Big Beautiful Bill Act (OBBBA), signed into law July 4, 2025, preserved many provisions from the Tax Cuts and Jobs Act (TCJA), made others permanent, and clarified the direction of federal tax… [keep reading…]
2025 Year End Tax Planning for Individuals
As 2025 draws to a close, individual taxpayers face a familiar but evolving tax landscape. Many provisions from the Tax Cuts and Jobs Act (TCJA) have been preserved or extended under the One Big Beautiful Bill Act (OBBBA), while a handful of new deductions and adjustments take effect for the 2025 tax year. This guide… [keep reading…]
Inflation-Adjusted Tax Provisions: 2026 Updates
Every year, the government adjusts certain tax thresholds and deductions for inflation. These changes can have a significant impact on how individuals and businesses plan their finances. For the 2026 tax year, a host of new inflation-adjusted figures have been released, many of which also reflect updates under the One, Big, Beautiful Bill Act (OBBBA)…. [keep reading…]