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...
by somichcpa | Apr 1, 2025 | Uncategorized
To ensure a smooth and error-free tax return filing, take a moment to double-check for these commonly overlooked details. These small but important items often cause delays or trigger IRS inquiries: 🔹 Missing Forms – Use your prior-year tax return as a reference to...
by somichcpa | Mar 7, 2025 | Uncategorized
During the recent chaos of Federal employment moves over the past couple of weeks, two actions will impact how filing your tax return this year could go and how to prepare accordingly. Voluntary termination After being offered voluntary termination, approximately...
