Category: Featured

For many 1099 healthcare professionals, March 15 is more than just another date on the calendar. It is the key deadline for electing S-Corporation status, a decision that can influence taxes, cash flow, and administrative responsibilities for the entire year. While an S-Corp election can create meaningful tax savings in the right situation, it is… Continue reading March 15 S-Corp Election Deadline

Travel nurses and CRNAs often work in multiple states throughout the year. While that flexibility can create professional opportunities, it also creates tax complexity. Multi-state income reporting requires careful documentation, clear recordkeeping, and an understanding of where and how income must be reported.  If you worked assignments across state lines this year, preparing early for the tax season can… Continue reading Multi-State Tax Filing for Travel Nurses and CRNAs

Tax season can feel overwhelming for CRNAs working as 1099 contractors. Unlike W-2 employees, self-employed CRNAs are responsible for tracking income, managing expenses, making estimated tax payments, and filing accurate returns without the help of an employer’s payroll department. A clear checklist can make tax season far more manageable. By preparing early and reviewing each step carefully, CRNAs can reduce the… Continue reading Tax Season Checklist for CRNAs

There is a new way to save for your child’s future! The Internal Revenue Service (IRS) just released a guidance on the new “Trump Accounts”, which is a new type of retirement savings account for qualified children. Here is a breakdown of what families need to know. What is a Trump Account and Who Can Have One?  A Trump Account is a new type of traditional… Continue reading The New Trump Accounts for Children: What Families Need to Know 

Saving for retirement gets more flexible in 2026 thanks to the updated retirement plan limits from the Internal Revenue Service (IRS). Here’s a breakdown of the changes:   Higher Contribution Limits  Higher Income Phase-Out Ranges  More people can fully deduct their IRA contributions since the IRS also updated the MAGI (Modified Adjusted Gross Income) phase-out ranges for 2026. These ranges affect whether taxpayers can deduct their traditional IRA contributions.   The IRS also increased the MAGI phase-out… Continue reading IRS Raises the Retirement Limits for 2026: What You Need to Know 

If you took out a car loan in 2025, you could be eligible for a new tax break under the One Big Beautiful Bill (OBBB).  Under Section 70203 of the OBBB, individuals can claim a new “above the line” deduction for interest paid on qualified personal auto loans. This means that you can still claim this… Continue reading How to Save on Taxes with Section 70203 Interest on Vehicle Loan Deduction 

The Internal Revenue Service announced that they are now phasing out paper tax refunds for individual taxpayers starting September 30, 2025. For years, the IRS has encouraged taxpayers to use direct deposits for refunds, and most already do. In fact, during the 2025 tax filing season, 93% or 87 million of the 93.5 million tax… Continue reading IRS Phases Out Paper Refund Checks: What Taxpayers Need to Know 

The Internal Revenue Service has released its annual inflation adjustments for the tax year 2026, reflecting changes under the One Big Beautiful Bill (OBBB). The changes will generally apply to tax returns filed in 2027.  Income Tax Brackets Adjustments  The highest marginal rate of 37% will now apply to income above $384,350 for separate filers,… Continue reading IRS Releases 2026 Tax Inflation Adjustments! 

The One Big Beautiful Act of 2025 introduced a special tax break for seniors which aims to reduce taxable income of retirees and older workers.  How it Works  Starting in tax year 2025 through 2028, under Section 70103 of the law, qualified seniors can claim an additional deduction of up to $6,000.  Income Phase Out … Continue reading The New Deduction for Seniors Under the One Big Beautiful Act of 2025 

The One Big Beautiful Act of 2025 introduces a significant tax change for individuals who receive tips. Section 70201 created a deduction that makes a large portion of the earned tips effectively tax-free.  Qualified Tips Up to $25,000 Can be Deducted  Starting with the tax year 2025, individuals can deduct up to $25,000 per year… Continue reading No Tax on Tips! Section 70201 of the One Big Beautiful Act of 2025 Explained