by idei | Jun 5, 2025 | TaxBiz
The IRS has started processing refunds for the 2024 tax year, with most taxpayers receiving their money within 21 days of filing. The average refund amount is approximately $2,825, based on last year’s data. More than 140 million tax returns are expected this season,...
by idei | May 28, 2025 | TaxBiz
The year 2025 marks a turning point in U.S. tax policy, with scheduled adjustments and potential reforms that every taxpayer should understand. This in-depth analysis will prepare you for upcoming changes and help you make smart financial decisions. The 2025 tax...
by idei | Sep 11, 2024 | TaxBiz
A significant topic of conversation is the 2017 tax legislation, known as the Tax Cuts and Jobs Act (TCJA), which is scheduled to expire at the end of 2025. This legislation introduced major modifications to the tax framework, including: The expansion of tax brackets...
by admin | Jul 9, 2024 | TaxBiz
🔎 Several provisions of the Tax Cuts and Jobs Act (TCJA) of 2017, enacted by former President Donald Trump, are set to expire at the end of 2025, without changes from Congress. The law included lower tax brackets, a higher standard deduction, and a boost to the child...
by admin | Jul 3, 2024 | TaxBiz
➡️ Small businesses hiring their own kids is a popular topic among social media influencers, but here we answer some questions to avoid misinformation about such posts. Must-Know Issues 🔹Wages can be deducted as a business expense, which can lead to significant...
