Tax Tips & More
Does the IRS List You as Qualifying for the Tips Deduction?
Congress enacted the One Big Beautiful Bill Act, or OBBBA, in July. This law created a new deduction called the No Tax on Tips deduction. Do you qualify?
The OBBBA Increases the Tax Benefits of Employing Your Child
If you own a business and have children, the One Big Beautiful Bill Act (OBBBA) just made the popular “hire your child” tax strategy even more attractive starting in 2025.
OBBBA Adds a Possible Senior Tax Deduction (Ages 65 and Older)
If you will be age 65 or older on December 31, 2025, you have a new opportunity for tax savings.
Tax-Deductible Cruise Ship Travel
Here’s an example that may be relevant to your tax planning strategy—particularly when it comes to travel for business purposes that may also offer a more comfortable or enjoyable experience.
Greed or Goodwill: Your Motive Makes a Scam Loss Deductible
Losses due to scams that rely on the victim’s greed are deductible. Losses from scams that count on the victim’s love or desire to help others are not deductible.
Protect Yourself: Digitize Tax Receipts
When it comes to IRS audits, one of the most common reasons taxpayers lose deductions is the lack of proper documentation.
Best Practices When E-Filing Returns
Avoid future problems by following these best practices for e-filing.
Common Mistakes in Tax Preparation
Avoid errors that can occur when preparing tax returns by learning these common mistakes.
What Are Your Chances of Being Audited?
These red flags could increase your chances of the IRS selecting your return for audit.
January 2026 Tax Due Dates
January 12: Tips for December 2025 reported to employer
January 15: 4th Quarter 2025 Estimated Tax Payment due
January 15: Monthly payroll tax deposits for December 2025
January 15: Farmers and fishermen pay estimated tax for 2025
January 31 (Saturday → Due Monday, February 2): W-2 forms due to employees, 1099 forms due to contractors, Copy B of Form 3921 due to employees (for ISO exercises), Form 940 (Federal Unemployment Tax Return) due
February 2026 Tax Due Dates
February 2 : Deadline to file and pay 2025 taxes in full if not making an estimated tax payment in January
February 10: Tips for January 2026 reported to employer
February 16: File Form W-4 to reclaim exemption from withholding for 2026
March 2026 Tax Due Dates
March 2: Farmers and fishermen file 2025 tax return to avoid penalty if estimated tax not paid by January
March 10: Tips for February 2026 reported to employer
March 16: S-Corporations and partnerships file 2025 business tax returns