by somichcpa | Oct 28, 2025 | Uncategorized
When most people think about estate planning, they focus on the basics: writing a will, naming beneficiaries, and choosing an executor. While those are essential steps, they only cover part of the picture. A complete estate plan should go further, helping your loved...
by somichcpa | Oct 24, 2025 | Uncategorized
As 2025 winds down, the fourth quarter is an ideal time to review your tax strategy and take advantage of new opportunities. With updated tax laws now in effect, year-end planning can make a meaningful difference in your 2025 tax bill and set you up for success...
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...
by Karen Baksa | Aug 20, 2025 | Uncategorized
You’ve stocked up on notebooks, pencils, and glue sticks, and survived the school supply shopping rush. But the truth is, those are only the starting costs of the school year. Beyond the supply list, there are plenty of hidden expenses that can add up quickly. Here...
by Karen Baksa | Aug 7, 2025 | Uncategorized
The One Big Beautiful Bill Act of 2025 (OBBBA) contains a number of tax breaks for parents. Here’s a summary of what’s in the bill for families, including planning tips to make the most of each tax break. Parents get a permanent increase to the child tax...
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...
