Category: Featured

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 

Every year, countless professionals head off to conferences or conventions ready to learn, network, and maybe collect more than a few free pens to take home! But along with the insights and connections, many wonder: Can I deduct as business expense the costs of attending these events?  For the Internal Revenue Service (IRS), you can… Continue reading Conference and Convention Costs: Deductible or Not? 

In general, self-employed residents of the state of California (CA) or non-residents that receive income from a source in CA of at least $500 ($250 if married/RDP filing separately) in a year are required to make quarterly estimated CA state taxes.  California Quarterly Estimated Tax Deadlines   The due dates for California state estimated tax payments… Continue reading How to Pay California State Estimated Taxes: A Guide for Self-Employed Individuals  

When you pay yourselves through self-employment—as independent contractors, locum tenens, CRNAs, freelancers, gig workers, or small business owners, you carry the responsibility of managing your tax obligations regardless of whether you opted to run your trade under sole proprietorship, limited liability company (LLC), or S Corporation.   While taxpayers focus on their federal responsibilities, state taxes… Continue reading How to Pay State Taxes: A Guide for Self-Employed Individuals 

Paying estimated tax is a proactive way to stay ahead of your taxes, especially if you’re self-employed—independent contractors, locum tenens, CRNAs, freelancers, gig workers, and small business owners. Since no one withholds taxes from your income, it is your responsibility to make estimated tax payments in quarterly periods throughout the year. Doing so helps you… Continue reading How to Pay Fderal Estimated Taxes via IRS Direct Pay (Bank Account) 

Federal income taxes are paid either through paycheck withholding or estimated tax payments. If you end up paying more taxes than what you owed, the IRS returns to you the extra amount back in the form of a tax refund.  If you’ve already filed your return and expect a refund, here are some helpful things… Continue reading What to Expect When Expecting an IRS Refund 

Receiving a letter from the Internal Revenue Service (IRS) can be unsettling, especially if you don’t know why you got one or what to do next. However, getting IRS notices doesn’t automatically mean problem, many IRS notices can be addressed quickly if you understand their purpose.   Why the IRS Sends Notices or Letters  The IRS… Continue reading IRS Notices: What to Do When You Get One