No Tax on Car Loan Interest Under the New Law? Not Exactly
Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence…
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Educational Articles
The New Law Includes a Game-Changer for Business Payment Reporting
The One, Big Beautiful Bill Act (OBBBA) contains a major overhaul to an outdated IRS requirement. Beginning with payments made…
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What You Still Need to Know About the Alternative Minimum Tax After the New Law
The alternative minimum tax (AMT) is a separate federal income tax system that bears some resemblance to the regular federal…
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The QBI Deduction and What’s New in the One, Big, Beautiful Bill Act
The qualified business income (QBI) deduction, which became effective in 2018, is a significant tax benefit for many business owners.…
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