The IRC Section 530A Child Investment Account Election Checklist is designed to help families navigate the requirements, eligibility rules, and key considerations associated with these new accounts. Use the resource below as a quick reference of information needed to...
Giving to charitable organizations you care about is usually a personal decision first and a tax decision second. However, when charitable giving is already part of your financial plan, understanding the tax rules can help you make your contributions more...
When planning for a child's future, families often consider savings and investment options such as 529 plans, custodial accounts, and traditional savings accounts. Now, Trump Accounts add another option to the financial planning toolkit. Who Can Open a Trump Account?...
What Is a 529 Plan? A 529 plan is a tax-advantaged savings vehicle designed to help families save for future education expenses. While contributions are not deductible for federal income tax purposes, the investments within the account grow tax-free, and qualified...
If you own stock in a growing business or are considering a future business sale, Qualified Small Business Stock (QSBS) may help you significantly reduce or even eliminate—federal capital gains tax. What is Qualified Small Business Stock (QSBS)? Qualified Small...
Artificial intelligence (AI) is widely regarded as one of the most meaningful technological advancements, especially in the evolution of audit, tax, and advisory services. While questions about governance, privacy, and reliability are valid, the opportunity is clear:...
As 2025 comes to an end, it’s a good time to take proactive steps for both individuals and businesses to thoroughly assess the effects of recent tax legislation—particularly the comprehensive “One Big Beautiful Bill Act” (OBBBA)—to optimize tax outcomes before filing...
With the continued increase in healthcare costs, Health Savings Accounts (HSAs) have become an effective strategy for managing medical expenses while also offering tax advantages. Considering recent legislative changes and enhanced benefits, 2025 is positioned to be a...
As part of the federal government’s push toward sustainability, the Energy Efficient Home Improvement Credit (also known as the Section 25C credit) has helped millions of homeowners reduce their energy bills while receiving valuable tax incentives. However, recent...
Signed into law on July 4, 2025, the One Big Beautiful Bill Act (OBBBA) introduces sweeping changes to the U.S. tax code, with significant implications for charitable giving. Building on the 2017 Tax Cuts and Jobs Act (TCJA), the OBBBA aims to broaden participation in...