The employer-provided childcare credit became more valuable in 2026, but the higher rates do not apply to every childcare payment. Small businesses should review eligibility, qualifying expenses, facility rules, Form 8882, and possible recapture before claiming the credit.
Choosing a business structure affects more than the paperwork filed with the state. New owners should review federal tax classification, payroll, owner compensation, annual filing costs, and future business plans before forming an LLC or making a corporate election.
Revocable and irrevocable trusts can support important estate-planning goals, but neither automatically lowers taxes. Taxpayers should review ownership, control, income reporting, gift-tax questions, estate inclusion, and property basis before transferring assets.
Using money from a 529 plan may seem straightforward, but the expense, timing, and state rules can affect the tax result. Here are six mistakes families should review before moving, transferring, or withdrawing the money
Some gifts, inheritances, insurance proceeds, benefits, scholarships, and other payments may be excluded from federal taxable income. This guide explains common types of income the IRS does not tax and why taxpayers should still review the reporting rules and exceptions.
First Time Abate is changing as the IRS begins transitioning to Automatic Exemption from Penalty, or AEP. Eligible taxpayers may receive certain penalty relief automatically, but IRS notices still need to be reviewed carefully.
The senior bonus deduction 2026 may help eligible taxpayers age 65 and older reduce taxable income, but it does not automatically guarantee a bigger refund. Older taxpayers should review income, filing status, Social Security, RMDs, withholding, and Medicare IRMAA before assuming the deduction solves the tax bill.
The senior bonus deduction 2026 may help eligible taxpayers age 65 and older reduce taxable income, but it does not automatically guarantee a bigger refund. Older taxpayers should review income, filing status, Social Security, RMDs, withholding, and Medicare IRMAA before assuming the deduction solves the tax bill.
The IRS raised some standard mileage rates for the second half of 2026. The new rates may help taxpayers who qualify, but first-half and second-half mileage should be tracked separately.
Trump Accounts may give families a new way to contribute for eligible children, but gift tax rules still matter. Before contributing, families should understand the IRS safe harbor, annual exclusion, Form 709, and recordkeeping issues
