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Georgia lawmakers have passed significant tax relief measures, including state income tax cuts and one-time rebates  for residents,...

Connecticut lawmakers are considering a proposal to implement a 28-cent tax on retail product deliveries, aiming to bolster funding for...

As Tax Day approaches each year, April 15  is one of the most important dates on the calendar for individuals and many businesses....

Illinois lawmakers are evaluating legislative measures aimed at eliminating state income tax on tips earned by service industry...

The Qualified Business Income Deduction (QBID)  under IRC §199A  provides a powerful tax benefit for owners of pass-through...

Recent discussions in Congress about capping or eliminating the corporate state and local tax (SALT) deduction have raised significant...

The Georgia General Assembly has passed House Bill 112, introducing one-time income tax rebates for residents, and House Bill 111,...

One of the most overlooked areas of the tax code—yet frequently scrutinized during audits—is IRC §267 , which governs related party...

In the wake of the devastating Hurricane Helene, Georgia's legislature has approved a substantial tax relief package aimed at supporting...

North Carolina Governor Josh Stein has unveiled his first two-year state budget proposal, aiming to address fiscal challenges and...

In a move aimed at alleviating financial pressures on residents, the Alabama House of Representatives has unanimously approved a series...

Depreciation is one of the biggest tax benefits for businesses, allowing them to deduct the cost of equipment, machinery, real estate,...

Mississippi is on the brink of a significant fiscal transformation as both the House and Senate propose plans to eliminate the state...

Investing in a startup or small business comes with risks, but the IRS provides a tax benefit for losses on qualifying small business...

The IRS has issued a reminder  that retirees who turned 73 in 2024  must take their first Required Minimum Distribution (RMD)  from IRAs,...

Converting a C corporation to an S corporation  can offer significant tax advantages, including pass-through taxation  and avoiding the...

Starting April 1, 2025, the UK government will implement significant changes to Vehicle Excise Duty (VED), affecting both new and...

The U.S. tax code allows business owners to deduct losses from their businesses, but these deductions are subject to strict limitations....

Congressional Republicans have introduced legislation aiming to substantially increase the tax burden on investment returns from large...

When a business owner transitions from a sole proprietorship or partnership to a C corporation , a key tax concern is whether the...