It's that time of year again where we should consider meeting to discuss any year-end strategies that might reduce your 2025 taxes. For a short time this past summer, tax news became national news when the President signed the One Big Beautiful Bill Act (OBBBA). The OBBBA is a budget bill that makes the 2017 tax [...]
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 [...]
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 [...]
