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Digital assets and taxes: What you need to know 1200 1200 Noelle Merwin

Digital assets and taxes: What you need to know

As the use of digital assets like cryptocurrencies continues to grow, so does the IRS’s scrutiny of how taxpayers report these transactions on their federal income tax returns. The IRS has flagged this area as a key focus. To help you stay compliant and avoid tax-related complications, here are the basics of digital asset reporting.…

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Can you turn business losses into tax relief? 1200 1200 Noelle Merwin

Can you turn business losses into tax relief?

Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be used to reduce taxable income in later years. Who qualifies? The net operating loss (NOL) deduction levels the playing field between businesses with steady income and those with income that…

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Still have tax questions? You’re not alone 1200 1200 Noelle Merwin

Still have tax questions? You’re not alone

Even after your 2024 federal return is submitted, a few nagging questions often remain. Below are quick answers to five of the most common questions we hear each spring. 1. When will my refund show up? Use the IRS’s “Where’s My Refund?” tracker at IRS.gov. Have these three details ready: Social Security number, Filing status, and…

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Members of the “sandwich generation” face unique estate planning circumstances 1200 1200 Noelle Merwin

Members of the “sandwich generation” face unique estate planning circumstances

Members of the sandwich generation — those who find themselves simultaneously caring for aging parents while supporting their own children — face unique financial and emotional pressures. One critical yet often overlooked task amid this juggling act is estate planning. How can you best handle your parents’ financial affairs in the later stages of life?…

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What 2025 Business Tax Changes Mean for You 1200 1200 Noelle Merwin

What 2025 Business Tax Changes Mean for You

Every year, tax-related limits for businesses are adjusted for inflation, and for 2025, many of these limits have increased. However, with inflation cooling down, the increases aren’t as significant as they’ve been in recent years. Here’s a rundown of the changes that might impact you and your business. 2025 deductions compared with 2024 Section 179…

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Which Financing Option is Right for Your Small Business? 1200 1200 Noelle Merwin

Which Financing Option is Right for Your Small Business?

Most small businesses need cash infusions at some point, and how you secure the funding can make all the difference between whether your business succeeds or struggles. To help determine which is best for your business, let’s break down the three primary types of funding available: debt, equity and hybrid financing. Debt: Borrowing to grow…

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S Corporation vs. Partnership: What’s Best for Your Business? 1200 1200 Noelle Merwin

S Corporation vs. Partnership: What’s Best for Your Business?

Starting a business with partners and not sure which entity to choose? An S corporation could be the perfect fit for your new venture. One benefit of an S corporation One big perk of an S corporation is that shareholders aren’t personally liable for the company’s debts. To keep that protection intact, make sure you:…

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Cut Your 2024 Tax Bill with an IRA Contribution—But Act Fast 850 500 smolinlupinco

Cut Your 2024 Tax Bill with an IRA Contribution—But Act Fast

While the 2024 tax deadline is quickly approaching, it’s not here yet, which means you still have time to trim down what you owe. If you qualify, you still have time to make a deductible contribution to a traditional IRA right up until the April 15 filing deadline and lock in tax savings on your…

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Make Smart Moves for Your 401(k) in 2025 850 500 smolinlupinco

Make Smart Moves for Your 401(k) in 2025

Retirement may seem far off, but smart saving now can make all the difference—and a 401(k) is one of the best ways to do that. If your employer offers a 401(k) or Roth 401(k), contributing as much as you can in 2025 is a smart way to build your nest egg. If you’re not already…

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How the 2025 Mileage Rate Change Affects Your Business Tax Deductions 850 500 smolinlupinco

How the 2025 Mileage Rate Change Affects Your Business Tax Deductions

With nationwide gas prices higher than a year ago, it’s good news that the 2025 optional standard mileage rate for business vehicle use has increased too. The IRS recently announced that the cents-per-mile rate for operating a car, van, pickup, or panel truck will be 70 cents in 2025, up from 67 cents per mile…

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Savings Bonds & Taxes: What You Need to Know 150 150 smolinlupinco

Savings Bonds & Taxes: What You Need to Know

U.S. Treasury savings bonds offer security, simplicity, and government backing but also have tax implications. Like any interest-bearing investment, understanding how they’re taxed can help you maximize your savings.  Understanding deferred interest on Series EE Bonds Series EE Bonds earn interest differently depending on when they were purchased. Bonds issued since May 2005 have a…

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Advance Healthcare Directives: The Estate Planning Step You Shouldn’t Skip 850 500 smolinlupinco

Advance Healthcare Directives: The Estate Planning Step You Shouldn’t Skip

An advance health care directive allows you to outline your medical preferences in case you are ever incapacitated or unable to make decisions. These directives are often part of a comprehensive estate plan and might be called by different legal names depending on where you live. Here’s a breakdown of some healthcare directives you should…

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