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SEP IRA Strategies to Reduce Taxes in 2025
For business owners and independent professionals, strategic tax planning is an essential component of maximizing income and ensuring a stable financial future. One of the most effective tools available in 2025 is the Simplified Employee Pension Individual Retirement...
High Alert for Tax Scams: IRS Reveals Most Dangerous Tactics for 2025
As tax season approaches, the Internal Revenue Service (IRS) has issued an urgent warning about new tax fraud and tax scams schemes featured in its annual "Dirty Dozen" list. This year, scammers have refined tactics ranging from social engineering to large-scale...
Leave Paper Behind: 5 Free Apps to Manage Receipts on Your iPhone
Tired of losing receipts or shuffling through piles of paper when you need one? Transform your iPhone into a professional scanner with these free apps that will help you organize your expenses and prepare for tax season. Digitizing your receipts allows you to go...
Don’t Let the IRS Keep Your Money! How to Claim Your Cut of $1 Billion in Unclaimed Tax Refunds
The IRS warns that roughly $1 billion in tax refunds from fiscal year 2021 could end up in the U.S. Treasury if more than 1.1 million Americans don’t act soon. These refunds are for those who did not file their Federal Tax Return (Form 1040) for 2021, the taxes that...
Will IRS Staff Cuts Delay My 2025 Tax Refund?
Tax season is here, and many taxpayers are worried about potential refund delays following President Trump's announcement of significant IRS staff cuts during this critical period. Tax experts confirm these concerns are valid and recommend filing as early as possible...
IRS Issues Tax Refund Update: Over $100 Billion Returned to Taxpayers
The Internal Revenue Service (IRS) has announced that it has issued more than $100 billion in tax refunds to taxpayers so far this filing season. A tax refund represents a reimbursement to taxpayers for any excess amount paid in taxes to the federal or state...
Using Your HSA to Cover Expenses for Your Emotional Support Animal
In 2022, the average American spent approximately $12,914 on healthcare, according to data from the Centers for Medicare & Medicaid Services (CMS). A Health Savings Account (HSA) is a valuable tool to help manage and reduce these costs. An HSA is a specialized...
The Cost of Trump’s Tax Cuts Could Bring Major Changes for Taxpayers
A key economic priority for President Trump this year is to extend the provisions of his signature Tax Cuts and Jobs Act (TCJA), a 2017 law that reduced tax rates for most Americans, before they expire at the end of 2025. Now, Republican lawmakers have drafted a...
Republicans May Increase Student Loan Payments
As House Republicans seek to identify spending cuts to finance President Donald Trump's tax reductions, they have proposed measures that could lead to higher federal student loan payments for millions of borrowers. Republican legislators are anticipated to utilize...