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

Accrual-basis taxpayers have unique opportunities—and risks—at year-end. Below is a structured checklist covering income acceleration/deferral, expense strategies, inventory, payroll, asset purchases, and other key areas. 1. Income Review & Deferral/Acceleration Income Recognition 2. Expense Accruals General Accruals Common Year-End Accruals Related-Party Review 3. Inventory & COGS 4. Fixed Assets &