by idei | Jan 23, 2025 | TaxBiz
California residents impacted by the recent wildfires may qualify for a one-time payment of $770 from the federal government. This financial aid, known as severe needs assistance, is administered by the Federal Emergency Management Agency (FEMA) and is typically...
by idei | Jan 9, 2025 | TaxBiz
Employers who hire individuals with disabilities or enhance their business facilities for employees and customers with disabilities may qualify for specific tax incentives. These incentives are intended to motivate employers to recruit qualified individuals with...
by idei | Dec 27, 2024 | TaxBiz
Most people think of using their Flexible Spending Account (FSA) funds for medical treatment and material goods, but medically eligible expenses can also include a Service Animals. If your furry friend is part of a medical treatment strategy, some of the associated...
by idei | Dec 17, 2024 | TaxBiz
A self-employed 401(k) plan, also known as an individual 401(k) plan, serves as a retirement savings option for small business owners without employees, aside from a spouse. This makes it an ideal choice for sole proprietors, independent contractors, partnerships, and...
by idei | Dec 10, 2024 | TaxBiz
The Internal Revenue Service (IRS) revealed an increase in the estate and gift tax exemption for the year 2025. The “basic exclusion amount” will rise to $13.99 million per individual in 2025, up from $13.61 million in 2024, according to the agency. These exemptions...
by idei | Dec 4, 2024 | TaxBiz
The Internal Revenue Service (IRS) has announced new federal tax brackets for 2025, reflecting adjustments for inflation. The standard deduction will rise to $30,000 for married couples filing jointly and $15,000 for individual taxpayers. Additionally, there will be...
