Digital Wallets Have Tax Obligations Too If you’ve spent any time in the crypto world lately—buying Bitcoin, experimenting with DeFi, or moving assets between exchanges and cold wallets—you’ve probably had the same moment many investors do during tax season: “Wait… is that crypto taxable?” It’s a good question. The rules around cryptocurrency taxes can feel …
If you’ve ever donated to help a student pay for private or parochial school, a new federal tax credit starting in 2027 might be worth putting on your radar. Congress has created a tax credit — not just a deduction — for certain charitable contributions, and while there are a few moving parts, the basic …
The federal tax credit for electric vehicles (EVs) has been an essential incentive for taxpayers interested in lowering the cost of switching to clean energy. Recently, changes were made through the One Big Beautiful Bill that will affect when this credit ends. As a CPA firm, we want to ensure you understand the new deadline, …
A major tax revision known as the One Big Beautiful Bill Act introduced a new no tax on car loan interest provision for individual tax filers for tax years 2025 through 2028. Under the new law, up to $10,000 in interest on a qualifying new auto loan can be deducted, even if you take the …
A major federal tax change is making headlines in 2025, especially among hourly and tipped workers. With the signing of a new law, many are asking: Did no tax on overtime pass? When does the no tax on overtime start? This article breaks down what has changed, who it affects, and how it may impact …
If you are a Michigan resident waiting on your state tax refund, you are not alone. Each year, thousands of taxpayers ask, “Can I track my Michigan tax refund?” The good news is, yes, you can. The State of Michigan provides ways to check your refund status so you can stay informed and plan accordingly. …
Free IRS Tax Filing: Meet Direct File If you’ve ever shuddered at the thought of paying for tax preparation software, rejoice: the IRS now offers Direct File, a free way to file your federal tax return directly with the IRS. No more hunting for coupons and hidden fees—just an open-source, government-powered system that lets eligible …
IRS Ruling Clarifies Medical Expense Deductions for Fertility Treatments and Surrogacy IRS Allows Medical Deduction for IVF, Not for Surrogacy Costs: The IRS has permitted a medical expense deduction for certain costs tied to a married couple’s in vitro fertilization (IVF), such as medical screenings, fertility medications and treatments, and the retrieval of eggs and …
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