The IRS mileage rate for 2026 has increased to $7.25 per mile, offering higher deductions for business use of personal vehicles. Learn how to choose between actual expenses and the standard rate, apply accountable plan reimbursements, and follow proper recordkeeping to support deductions and maximize tax benefits for business driving.

New tax updates include an enhanced deduction for seniors age 65+, offering up to $6,000 per individual through 2028, subject to income limits. Learn eligibility rules, phase-outs, and how it applies whether you itemize or take the standard deduction, plus key updates on Earned Income Tax Credit thresholds and Social Security considerations for better planning.

Learn how to deal with the IRS on back taxes and avoid costly mistakes. This guide explains why you should never ignore IRS notices, common taxpayer errors, and available solutions—including installment agreements, hardship status, penalty abatement, and Offers in Compromise—to resolve tax debt and regain financial stability.

The IRS has announced updated retirement contribution limits for 2026. Learn about higher IRA and Roth IRA limits, expanded income phase-out ranges, increased 401(k), 403(b), 457 plan caps, and new SIMPLE account thresholds. Review these changes to maximize tax-advantaged savings and adjust your retirement planning strategy for the year ahead.

Learn the top self-employment tax mistakes that can cost business owners money, penalties, and retirement benefits. This guide explains SE tax basics, the 15.3% rate, common missteps with gig income, LLCs, retirement plans, optional methods, and estimated taxes - plus practical tips to stay compliant and avoid costly surprises before filing or paying quarterly taxes as required.

Could Trump Accounts become a new employee benefit? Starting July 1, 2026, employers may contribute up to $2,500 annually to government-backed, IRA-like accounts for employees’ children under a pilot program. Learn how Section 128 contributions work, eligibility rules, tax advantages, and what this benefit could mean for employers and working families.

The Big Beautiful Bill brings major 2025 tax changes: extended 2017 tax cuts, higher SALT deduction limits, “No Tax on Tips & Overtime,” senior relief, bigger child credits, and new “Trump Accounts.” Learn what sole proprietors, LLCs, S-corps, and franchise owners must watch for—and the practical steps to stay compliant and maximize savings.

The “One Big Beautiful Bill Act” brings major estate tax changes for NY taxpayers. Starting 2026, the federal exemption rises to $15M per person and sunsets are canceled. Learn how this affects estate, gift, and GST taxes, plus key New York State rules, rates, and planning strategies to minimize taxes and protect your wealth.

Navigating a 1031 like-kind exchange can be challenging. With strict deadlines, multiple parties involved, and substantial tax liability at stake, real estate investors need strategic planning—and sometimes a solid Plan B. Options like the Delaware Statutory Trust (DST) or Qualified Opportunity Zone investments can be lifesavers in the right situations.