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…]
Tag: Estate Tax Exemption
Tax Planning for Individuals
With tax year 2021 coming to a close, we need to consider what can be done to help lower your tax bill for this year and next. With the uncertainty of pending legislation, here are some tax planning ideas for individuals: Income/Deduction Deferral or Acceleration Consider the following to accelerate income into the current year:… [keep reading…]