Author Archives: barbreeves

The IRS announced that individual tax refund checks will begin phaseout on September 30, as required by Executive Order 14247. This is the first step towards the broader transition to electronic payments. More detailed guidance for 2025 tax returns will be published by the IRS before the 2026 filing season begins.

During the months of September and October, projections are done to avoid any adverse tax impact at yearend. These projections are done for current clients at no cost, if done via telephone. If you have any self-employment tax, any additional income over last year’s taxes and/or any circumstances that you are concerned about, please giveContinue reading “Projections”

If you need to establish a pension plan, please contact a retirement advisor.  If the shareholder incurs any expenses, the company can reimburse through an accountable plan. I have repeatedly explained that the money in a company does not belong to an owner.  The company must be considered a separate entity.  It is how theContinue reading “C CORPORATION WEBINAR 2025”

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Oct. 1, 2025. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily. Here is a complete list of the rates: A good idea to pay taxes in on time.

Licenses and Tax Rates I found this of interest in my pursuit of being more familiar with DE taxation. Also since so many companies from other states think being a DE entity is the best. This is a sample of the taxes assessed See attached

This has to do with charitable contributions. In 2026 (not 2025), individuals making charitable contributions will have a new 1/2% floor which disallows that percentage of AGI (adjusted gross income). This is the first time contributions have a disallowed portion. It is best explained using the medical deduction on the Schedule A that disallows 7.5%Continue reading “Donor Advised Funds (DAF)”

This act contained numerous changes to the tax code: More to discuss after two upcoming seminars

Employers can continue to use educational assistance programs to help employees pay down student loans through December 31, 2025. Under current law, employers may contribute up to $5,250 annually per employee toward student loan repayment without those payments being counted as taxable wages. This provision, originally expanded by pandemic relief measures, allows workers to receiveContinue reading “Educational Assistance Programs can help pay employee student loans through 2025”

It is an act that has not yet been passed by Congress.  It is for anyone/organization that is establishing a stable coin (digital currency) and the regulations they must follow.  It has no tax impact on the rest of us (at least yet). While there have been a couple of new stablecoins established this year,Continue reading “Finally reviewed the GENUIS ACT and as promised, I am posting…”

Summary bill:  https://www.congress.gov/bill/119th-congress/house-bill/1/summary/00 Complete bill: (in case you want to read further into each section)  https://www.congress.gov/bill/119th-congress/house-bill/1/text I believe this is a bill that everyone should read.  It covers many things that are not exactly tax-related but can have an impact on your wallet or the wallet of someone you may know.  There are changes toContinue reading “The One Big Beautiful Bill (BBB)”