by somichcpa | Oct 2, 2025 | Uncategorized
The IRS has announced that it will begin phasing out paper refund checks for individual taxpayers starting at the end of September 2025. Full guidance for the 2025 tax year will be released ahead of the 2026 filing season. This change supports the federal government’s...
by somichcpa | Sep 24, 2025 | Uncategorized
You’ve spent years building your retirement savings, confident that your IRAs and 401(k)s will support a comfortable future. But lurking inside these accounts is a hidden challenge: taxes. Without a plan in place, those tax obligations can shrink your retirement...
by somichcpa | Sep 18, 2025 | Uncategorized
Tax myths spread quickly and can cause costly mistakes or missed opportunities if you are not careful. Here are some of the most common misconceptions we hear, along with the reality and practical tips to help you stay on track. Myth: Moving into a higher tax bracket...
by somichcpa | Aug 27, 2025 | Uncategorized
The recently passed One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, introduced two major tax breaks that could benefit millions of workers: No Tax on Tips and No Tax on Overtime. While both provisions offer potential savings, there are still...
by somichcpa | Aug 22, 2025 | Uncategorized
The recently passed One Big Beautiful Bill Act of 2025 (OBBBA) brings a number of updates designed to benefit small businesses by expanding tax incentives and simplifying some reporting requirements. Below is an overview of the most notable provisions. Form 1099...
