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Savings Bonds and Taxes: What You Need to Know

December 31, 2024

Did you know that interest from U.S. savings bonds is taxed at the federal level but not at the state or local levels? Here’s a look at the tax implications of investing in savings bonds.

Can You Claim the American Opportunity Tax Credit (AOTC) or Lifetime Learning Credit (LLC) for Tuition Expenses?

December 26, 2024

If you pay tuition expenses by December 31st, you could secure a last-minute tax break if you're eligible. Learn more here.

The Tax Treatment of Intangible Assets

December 24, 2024

Properly managing the tax treatment of intangible assets is vital for businesses to maximize tax benefits and ensure compliance with tax regulations.

If You're 73 or Older, Time is Running Out to Take This Year's Required Minimum Distributions from Retirement Plans.

December 19, 2024

RMDs are subject to a 25% excise tax on the amount the taxpayer should have withdrawn if not withdrawn on time.

Drive Down Your Business Taxes with Local Transportation Cost Deductions

December 17, 2024

The average price of gas is down more than 20 cents per gallon from a year ago. That may affect the tax deductions for local transportation costs that your business can claim for 2024. Here’s what you can write off.

Federal Court Rules Against DOL’s “White Collar” Overtime Rule

December 12, 2024

A federal court has struck down a new rule regarding the salary threshold for determining whether employees are exempt from federal overtime pay requirements.

Beginning in 2024, Eligible Senior Taxpayers May Donate More from Their IRAs with Qualified Charitable Distributions (QCDs).

December 10, 2024

Owners or beneficiaries of IRAs who are 70½ or older can make QCDs directly to IRS-approved charities.

Indiana's New Sales Tax Exemption for Restaurant Utilities - Effective Jan. 1, 2025

December 9, 2024

Starting January 1, 2025, Indiana restaurants may be able to claim a 50% sales tax exemption on electricity usage without conducting a utility study. Here's more information.

How Inflation Will Affect Your 2024 and 2025 Tax Bills

December 5, 2024

Inflation has slowed down considerably in the last couple of years. What does this mean for your federal tax bill? Here are the inflation-adjusted amounts for several provisions in 2025, compared to 2024.

Is Your HIPAA Compliance at Risk with Windows 10 Reaching End of Life?

December 3, 2024

Technology evolves quickly, and staying HIPAA compliant amidst these changes can be challenging. Microsoft has announced that Windows 10 will reach End of Life (EOL) on October 14, 2025. Once software becomes EOL, it no longer receives security updates, leaving it non-compliant with HIPAA regulations.

Healthy Savings: How Tax-smart HSAs Can Benefit Your Small Business and Employees

December 3, 2024

Health Savings Accounts allow you and your employees to set aside money on a pre-tax basis to pay for qualified medical expenses. Here’s a look at what an HSA could mean for your business, as well as the inflation-adjusted amounts for 2024 and 2025.

Should a Married Couple Use a Joint Trust or Separate Trusts?

November 27, 2024

For a married couple, are two revocable trusts better than a joint revocable trust?

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