TAX

A new year brings updated tax figures for individual taxpayers. Many limits are adjusted annually for inflation and generally rise over time. For 2026, additional changes also take effect under the One Big Beautiful Bill Act, signed into law on July 4, 2025. Below is a summary of key deductions, contribution limits, and other important

Many people are familiar with Section 529 plans as a tax-advantaged way to save for education. Fewer realize there’s a similar option designed specifically to help individuals with disabilities save for qualified expenses. These are known as Achieving a Better Life Experience (ABLE) accounts. Recent legislation has expanded and strengthened ABLE accounts. The SECURE 2.0 Act, enacted

When you’re planning to sell your business or acquire another company, taxes can significantly affect both the structure and financial outcome of the deal. Understanding the potential tax implications early can make the difference between a smooth transaction and costly surprises. Asset Sale vs. Stock Sale From a tax perspective, mergers and acquisitions are typically

Are you planning to make financial gifts to family members or other loved ones? If you also want to reduce the tax hit from appreciated investments, consider gifting stock instead of cash. With the right approach, you may be able to eliminate federal tax on the appreciation — or at least reduce it significantly. Leveraging

The Social Security Administration has announced the 2026 wage base, and it’s set to rise again. Let’s break down what this means for both employees and self-employed individuals — and how it will impact your payroll taxes next year. FICA Tax Basics The Federal Insurance Contributions Act (FICA) imposes two main payroll taxes on wages and self-employment income: