Recent News & Blog / Individual Tax
Milestone moments: How age affects certain tax provisions
They say age is just a number. But it’s much more than that in tax law. That’s because different tax rules kick in at specific ages. Take a look at these age-related tax milestones. Contact our tax advisors with questions.
Is college financial aid taxable? A crash course for families
If your college student is fortunate enough to receive some financial aid, what are the tax implications? It depends. Gift aid, which is money that a student doesn’t have to work for, is often tax-free. But there are certain requirements. Contact our tax advisors with questions about what’s taxable and what’s not.
When can seniors deduct Medicare premiums on their tax returns?
If you’re 65 or older and enrolled in basic Medicare, you may need to pay additional premiums to obtain the level of coverage you desire. These premiums can be significant. The good news? You might be eligible for a tax break on those premiums. However, claiming medical expenses on your tax return can be challenging. Contact our tax advisors with questions about Medicare premiums tax deductions
Individual tax breaks in 2025 and how The One, Big, Beautiful Bill could change them
Curious how The One, Big, Beautiful Bill could affect taxes for you and your family? Here are seven key tax breaks in the bill and what they could mean for you. Contact our tax advisors with questions.
The advantages of a living trust for your estate plan
If you own substantial assets, you may want to consider setting up a living trust to bypass the probate process. Discover how a living trust can help you avoid probate, protect your privacy and simplify the transfer of your assets. Contact our estate planning advisors and tax consultants with questions.
Planning a summer business trip? Turn travel into tax deductions
If you or your employees are heading out of town for business this summer, it’s important to understand the travel deduction tax rules. If a trip includes both business and personal time, only expenses related to the business portion (such as meals and lodging for business days) are deductible. Contact our tax advisors for guidance on what’s deductible in your situation.
Digital assets and taxes: What you need to know
Curious how your crypto, NFTs or stablecoins could impact your taxes? We break down what the IRS expects and how to stay compliant when reporting digital asset transactions. Contact our tax experts for help.
Being a gig worker comes with tax consequences
The gig economy offers flexibility, autonomy and a way to earn income, but it also comes with tax obligations that can catch many workers off guard. Whether you’re driving for a rideshare service, delivering food, selling products online, or offering local services like pet walking, it’s crucial to understand the tax implications of gig work to stay compliant and avoid costly surprises. Contact our tax advisors with questions.
The tax rules for legal awards and settlements: What recipients should know
If you receive a court award or out-of-court settlement, do you have to pay tax on it? The answer is … it depends. The way a settlement is structured can significantly affect your tax liability, making professional guidance essential. We can help you understand the rules, ensure proper reporting and potentially reduce your tax burden. Contact our tax advisors to discuss how a court award or out-of-court settlement may affect your taxes.
Still have questions after you file your tax return?
If you’ve successfully filed your tax return with the IRS, you may think you’re done with taxes for another year. But some questions may still crop up about the return. Here are answers to some questions that we’re frequently asked about tax returns at this time of year.