Expert Perspectives

Article Highlights: Senior Deduction No Tax on Tips No Tax on Qualified Overtime Vehicle Loan Interest Deduction Adoption Credit Child Tax Credit Environmental Tax Credits SALT Deduction Limit Super Retirement Plan Catch Up Contributions Third Party Network Transaction Reporting (1099-K) […]

Article Highlights: Time to Gather Your Information New for 2025 Choosing Your Alternatives Tips for Pulling Your Information Together Tax time is just around the corner, and if you are like most taxpayers, you are probably facing the ominous chore […]

Article Highlights: The Basics of Educator Deductions Qualified Expenses to Maximize Your Deductions Eligibility and Claiming Deductions Strategic Approaches to Deductions Above-the-line Deduction ResurrectedMiscellaneous Itemized Deduction Scenario of Joint Filing Combining Deduction Methods Alternative When You Don’t Qualify for the […]

Article Highlights: The Purpose and Impact of Form 1099-DA Who Must Issue Form 1099-DA? Who Will Receive Form 1099-DA? What Information is Included on Form 1099-DA? Understanding the Cost Basis Challenge for 2025 Special Reporting Rules for Stablecoins and Non-Fungible […]

Written By: Sandra Bullock If you own or help run a business, you may have heard that the One Big Beautiful Bill Act (“OBBBA”) is “bringing back expensing” for research and development and making 100% bonus depreciation permanent. That’s true—but […]

Article Highlights: 1099-NEC Filing Requirements Filing Due Date Independent Contractor Filing Threshold Landlords Additional Filing Requirements Form W-9 Household Workers Penalties Endeavors to Mitigate Penalties Worksheet This is our annual reminder that if you use workers other than employees to […]

By: Greg Hyde, Squire Tax Partner & Mark Boucha, Squire Tax Manager When Congress passed the One Big Beautiful Bill Act (OBBBA), it introduced some of the most sweeping updates to U.S. tax law in many years. From revised brackets and deductions to expanded credits […]

Article Highlights: Executive Order The Impetus Behind the Transition Challenges Facing Unbanked Taxpayers Proposed Solutions and Alternatives In a move set to redefine the refund process, the Internal Revenue Service (IRS), in collaboration with the U.S. Department of Treasury, has […]

In the complex world of tax deductions, understanding the distinctions between above-the-line deductions, below-the-line deductions, and standard and itemized deductions is crucial for effective tax planning. Each category serves a distinct purpose within the tax code, impacting how taxable income […]