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...
Nov 18, 2025 | Blog, IRS News & Updates, Strategy Group Recaps, Tax Bites
Our November Strategy Group call covered a wide range of important tax and retirement planning updates for 2026 and beyond. Jack Kiley provided a detailed update on new tax laws, retirement plan adjustments, and strategies investors should consider before year end....
Nov 18, 2025 | Blog, Tax Bites
Beginning in 2026, taxpayers in the top federal income tax bracket will see their itemized deductions reduced. If you’re at risk, there are steps you can take before the end of 2025 to help mitigate the negative impact. The New Limitation Up Close Before the Tax Cuts...
