Figuring corporate estimated tax

Figuring corporate estimated tax

The next quarterly estimated tax payment deadline is June 17 for individuals and businesses, so it’s a good time to review the rules for computing corporate federal estimated payments. You want your business to pay the minimum amount of estimated tax without...
Inflation enhances the 2025 amounts for Health Savings Accounts

Inflation enhances the 2025 amounts for Health Savings Accounts

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are announced earlier in the year than other inflation-adjusted amounts,...
You may be entitled to tax breaks if caring for an elderly relative

You may be entitled to tax breaks if caring for an elderly relative

There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing the person to receive quality care. In addition, you could also be eligible for tax breaks. Here’s a rundown of four...
IRS extends relief for inherited IRAs

IRS extends relief for inherited IRAs

For the third consecutive year, the IRS has published guidance that offers some relief to taxpayers covered by the “10-year rule” for required minimum distributions (RMDs) from inherited IRAs or other defined contribution plans. But the IRS also indicated in...
IRS issues guidance on tax treatment of energy efficiency rebates

IRS issues guidance on tax treatment of energy efficiency rebates

The Inflation Reduction Act (IRA) established and expanded numerous incentives to encourage taxpayers to increase their use of renewable energy and adoption of a range of energy efficient improvements. In particular, the law includes funding for nearly $9 billion...