Article Highlights: The Impact of the Social Security Fairness Act Social Security Lump-Sum Election Taxation Options for Lump-Sum Payments Taxation in the Year of Receipt Lump-Sum Election Method How Each Method Works Selecting the Optimal Taxation Method Professional Assistance for Optimal Decision Making On January 4, 2025, President Biden signed into law the Social Security […]
As Rory McIlroy celebrates his historic 2025 Masters victory, joining an elite group of golfers – including Tiger Woods and Jack Nicklaus – who’ve completed the career Grand Slam, the spotlight on professional golf has never been brighter. Yet, behind the scenes, some players have grappled with challenges off the course, particularly concerning tax issues. […]
It starts small. Fewer cars on the dealership lot. Half-empty restaurants on a Friday night. A “maybe next year” when customers talk about their next big vacation. It’s not your imagination. Consumer behavior is shifting — and small businesses are feeling it. When uncertainty rises (tariffs, policy shifts, rising prices), people don’t always rush to […]
If the last few years have taught us anything, it’s this: no supply chain is bulletproof. Ships stall. Tariffs hike. Materials vanish into thin air. And suddenly the parts you counted on — the parts your customers counted on — are stuck somewhere between here and nowhere. These disruptions aren’t just inconvenient if you’re running […]
In an era where financial advice is just a scroll away, many individuals, especially from younger generations, are turning to social media platforms like TikTok, Instagram, and YouTube for guidance on managing their finances. While these platforms offer a seemingly endless supply of content, the old adage of “don’t believe everything you read on the […]
Ever feel like no matter how hard you try, your finances just aren’t working for you? You’re not alone. Many people—especially busy business owners—make the same costly mistakes when it comes to money. But what if you could flip the script and create a future where your finances bring you joy, not stress? The Hidden […]
Article Highlights: Who Qualifies as a Day Trader? Pros of Day Trading from a Tax Perspective Cons of Day Trading from a Tax Perspective Other Noteworthy Tax Considerations Day Trader Election Day trading, the practice of buying and selling financial instruments within the same trading day, has gained significant popularity in recent years. With the […]
We’ve seen firsthand how optimizing your tax deductions can create real, measurable benefits for your business. With inflation driving up expenses and economic uncertainty still lingering, small business owners need every strategic advantage they can get. That includes knowing what deductions you’re entitled to and taking steps throughout the year to claim them. The good […]
Article Highlights: Historical Pause in Collections Current Debt Situation Mechanisms of Collection Communication and Engagement Efforts Support and Resources for Borrowers Enhanced Income-Driven Repayment (IDR) Process Outreach and Partnerships: As the U.S. Department of Education charts a new path post-pandemic, one significant move is the resumption of federal student loan collections. This initiative, set to […]
Maximizing Business Deductions: An Introduction to Depreciation, Amortization, and Expensing Article Highlights: MACRS Depreciation Bonus Depreciation Section 179 Expensing Amortization Materials and Supplies Expensing The De Minimis Safe Harbor Rule Expensing Routine Maintenance Expensing Per Building Safe Harbor for Small Taxpayers Expensing In the intricate world of business accounting and taxation, the ability to strategically […]