by angieduran | Nov 14, 2025 | Uncategorized
The 2026 Social Security wage base has been released. What’s the tax impact on employees and the self-employed? Let’s take a look. FICA tax 101 The Federal Insurance Contributions Act (FICA) imposes two payroll taxes on wages and self-employment income — one for...
by angieduran | Nov 13, 2025 | Uncategorized
As we approach year-end, it is once again time to review tax planning strategies. Year-end planning involves strategically timing income and deductions to permanently reduce tax liabilities or defer them over future years. However, in today’s constantly evolving tax...
by angieduran | Nov 10, 2025 | Uncategorized
Health care costs continue to increase. Pairing a high-deductible health plan (HDHP) with a Health Savings Account (HSA) can help. Insurance premiums will be lower because of the high deductible. And the HSA provides a tax-advantaged way to fund the deductible and...
by angieduran | Nov 4, 2025 | Uncategorized
If you pay more than $10,000 in state and local taxes (SALT), a provision of the One Big Beautiful Bill Act (OBBBA) could significantly reduce your 2025 federal income tax liability. However, you need to be aware of income-based limits, and you may need to take steps...
by angieduran | Nov 3, 2025 | Uncategorized
Saving taxes probably isn’t your primary reason for supporting your favorite charities. But tax deductions can be a valuable added benefit. If you donate long-term appreciated stock, you potentially can save even more. Not just a deduction Appreciated publicly traded...
by angieduran | Oct 23, 2025 | Uncategorized
For 2025 through 2028, individuals age 65 or older generally can claim a new “senior” deduction of up to $6,000 under the One Big Beautiful Bill Act (OBBBA). But an income-based phaseout could reduce or eliminate your deduction. Fortunately, if your income is high...
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