Last year, the Internal Revenue Service introduced a new income tax deduction for qualified cash tips under the One Big Beautiful Bill Act (OBBBA). The deduction is set to expire after 2028. In September 2025, the IRS issued proposed regulations to help guide taxpayers. The agency has now released final

If you used one or more vehicles for business purposes in 2025, you may qualify for important tax deductions on your 2025 income tax return. Businesses are typically allowed to deduct expenses related to the business use of a vehicle, along with depreciation. However, the rules can be complex, and

A new tax-advantaged way to help children build savings for the future was created under the One Big Beautiful Bill Act (OBBBA): Trump Accounts (TAs). Under a pilot program, parents can elect to establish a TA for a U.S. citizen child born between 2025 and 2028, and the federal government