Tax Deductions Archives - Page 5 of 23

Treasury, IRS Provide Transition Relief for 2025 for Businesses Reporting Car Loan Interest under the One, Big, Beautiful Bill
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Treasury, IRS Provide Transition Relief for 2025 for Businesses Reporting Car Loan Interest under the One, Big, Beautiful Bill

Bookkeeping, Compliance, Corporate Taxes, Debt, Interest, IRS, Personal Taxes, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Relief, Tax Tips, Taxes

Treasury, IRS Provide Transition Relief for 2025 for Businesses Reporting Car Loan Interest under the One, Big, Beautiful Bill

This article was published by the IRS. The Department of the Treasury and the Internal Revenue Service have provided transitional guidance for businesses required to report car loan interest under the One, Big, Beautiful Bill. Notice 2025-57 provides penalty relief and guidance to certain lenders for new information reporting requirements for car loan interest received in [...]

cozbycpa2025-11-05T10:59:33-05:00November 5th, 2025|Categories: Bookkeeping, Compliance, Corporate Taxes, Debt, Interest, IRS, Personal Taxes, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Relief, Tax Tips, Taxes|Tags: Cozby & Company, CPA Heather Cozby, how are businesses required to report car loan interest under the One Big Beautiful Bill, no tax on car loan interest, One Big Beautiful Bill provisions, Plymouth MA tax accountant|

One, Big, Beautiful Bill Act: Tax Deductions for Working Americans and Seniors
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One, Big, Beautiful Bill Act: Tax Deductions for Working Americans and Seniors

Interest, IRS, Personal Finance, Personal Taxes, Tax Deductions, Tax Tips, Taxes

One, Big, Beautiful Bill Act: Tax Deductions for Working Americans and Seniors

This article was published by the IRS. Below are descriptions of new provisions from the One, Big, Beautiful Bill Act, signed into law on July 4, 2025, as Public Law 119-21, that go into effect for 2025. “No Tax on Tips” New deduction: Effective for 2025 through 2028, employees and self-employed individuals may deduct qualified tips [...]

cozbycpa2025-10-15T09:53:50-04:00October 15th, 2025|Categories: Interest, IRS, Personal Finance, Personal Taxes, Tax Deductions, Tax Tips, Taxes|Tags: Cozby & Company, CPA Heather Cozby, One Big Beautiful Bill Act, Plymouth MA accountant, tax deductions for working Americans and seniors, who is eligible for no tax on car loan interest, who is eligible for no tax on overtime, who is eligible for no tax on tips, who is eligible for the new senior deduction|

Potential Tax Benefits for Homeowners
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Potential Tax Benefits for Homeowners

IRS, Military, Mortgage, Mortgage Interest Credit, Personal Finance, Personal Taxes, Real Estate, Tax Credits, Tax Deductions, Tax Tips, Taxes

Potential Tax Benefits for Homeowners

This article was published by the IRS. Owning a home costs money, but there are tax benefits available to help homeowners save on some of common costs of homeownership. Homeowners should review the tax deductions, programs, and housing allowances to see if they are eligible. Deductible house-related expenses Most home buyers take out a mortgage to [...]

cozbycpa2025-10-08T10:39:50-04:00October 8th, 2025|Categories: IRS, Military, Mortgage, Mortgage Interest Credit, Personal Finance, Personal Taxes, Real Estate, Tax Credits, Tax Deductions, Tax Tips, Taxes|Tags: Cozby & Company, CPA Heather Cozby, deductible house-related expenses, ministers and military housing allowance, Mortgage Credit Certificate, mortgage interest tax credit, Plymouth MA tax consultant, potential tax benefits for homeowners, which tax credits can benefit homeowners|

Tax Provisions for Businesses in the One Big Beautiful Bill Act
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Tax Provisions for Businesses in the One Big Beautiful Bill Act

Corporate Taxes, IRS, Payroll Family Leave Credit, Payroll Sick Leave Credit, Self-Employed, Small Business, Tax Deductions, Tax Law Changes, Tax Relief, Tax Tips, Taxes

Tax Provisions for Businesses in the One Big Beautiful Bill Act

We wanted to update you on the provisions of the new tax bill that was signed into law on July 4 (the One Big Beautiful Bill Act). We recommend reviewing your current tax strategy in light of these changes. We are available to discuss how these provisions may impact your personal or business tax situation, and [...]

Tax Provisions for Individuals in the One Big Beautiful Bill Act

We wanted to update you on the provisions of the new tax bill that was signed into law on July 4 (the One Big Beautiful Bill Act). We recommend reviewing your current tax strategy in light of these changes. We are available to discuss how these provisions may impact your personal or business tax situation, and [...]