Feb 10, 2026 | Blog, Tax Bites
Married couples have a choice when filing their 2025 federal income tax returns. They can file jointly or separately. What you choose will affect your standard deduction, eligibility for certain tax breaks, tax bracket and, ultimately, your tax liability. Which filing...
Feb 3, 2026 | Blog, Tax Bites
If you itemize deductions on your 2025 individual income tax return, you potentially can deduct donations to qualified charities you made last year. But your gifts must be substantiated in accordance with IRS requirements. Exactly what’s required depends on various...
Jan 27, 2026 | Blog, Retirement Accounts, SEP IRAs, Tax Bites
If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one before you file your 2025 tax return. If you choose a Simplified Employee Pension (SEP), you’ll be able make deductible 2025 contributions...
Jan 20, 2026 | Blog, Tax Bites
The IRS is opening the filing season for 2025 individual income tax returns on January 26. This is about the same time as when the agency began accepting and processing 2024 tax year returns last year, despite IRS staffing having been significantly reduced since then....
Jan 6, 2026 | Blog, Tax Bites
Every year, severe storms, flooding, wildfires and other disasters affect millions of taxpayers. Many experience casualty losses from damage to their homes or personal property. The One Big Beautiful Bill Act (OBBBA), signed into law last year, generally made...
Dec 30, 2025 | Blog, Tax Bites
A new year brings many new tax-related figures for businesses. Here’s an overview of key figures for 2026. Be aware that exceptions or additional rules or limits may apply. Depreciation-Related Tax Breaks Bonus depreciation: 100% Section 179 expensing limit: $2.56...
Dec 23, 2025 | Blog, Tax Bites
Did you know there’s a tax-advantaged way to save for the expenses of a person with a disability that’s similar to saving for college expenses with a Section 529 plan? Achieving a Better Life Experience (ABLE) accounts can help fund qualified disability expenses for...
Dec 16, 2025 | Blog, Tax Bites
Beginning in 2026, individuals who itemize deductions and donate to charity will face a new limit on their charitable deductions. And in some cases, they’ll face two new limits. But there’s some good news for non-itemizing individuals who make charitable donations....
Dec 9, 2025 | Blog, Tax Bites
Year-round tax planning generally produces the best results, but there are some steps you can still take in December to lower your 2025 taxes. Here are six to consider: Postpone Invoicing If your business uses the cash method of accounting and it would benefit from...
Nov 25, 2025 | Blog, Tax Bites
If you have a flexible spending account (FSA) through your employer to help pay for health or dependent care expenses, now’s a good time to check your balance. FSAs save taxes, but they generally require you to incur expenses to use the funds by year end or forfeit...
