Taxation Insights

Tax Tip: Online identity theft is a growing threat that can cripple your company or shut it down forever.

The One Big Beautiful Bill Act introduced Trump Accounts, a new tax-advantaged savings option designed to help children build long-term wealth. With potential government seed funding, tax-deferred growth and contribution opportunities from families and employers, these accounts create new planning opportunities.

Profits interests can be a tax-efficient way for businesses structured as partnerships and limited liability companies to attract and retain talent when cash compensation is limited.

Tax Tip: Donors should consider leaving an asset to a single charity, such as a private foundation, to determine its ultimate disposition.

Under the new USPS rules, the postmark may not accurately reflect the date the documents were mailed. Exercise caution for the rest of the tax filing season and wrap up 2025 by steering clear of postal penalties and future headaches.

Every year, the IRS releases its "Dirty Dozen" list of common scams and schemes that taxpayers should be aware of. As we enter the peak of tax season, make sure you stay alert and aware.

Individuals who would like to benefit their favorite charities while creating an income stream for themselves or a loved one may want to consider incorporating a charitable remainder trust (CRT) into their estate plans. A CRT is an irrevocable trust to which you contribute stock or other assets.

Tax Tip: If you're required to file a tax return but don’t, the IRS might step in and file one for you.