A required minimum distribution (RMD) is the amount of money that must be withdrawn annually from specific retirement plans, such as 401(k)s and certain IRAs, including the traditional IRA. … [Read more...] about How to delay your RMDs
IRS Tax Planning Ideas, Tips & News
Auto Loan Interest Deduction
Update on 2025 Tax Law Changes In our July 10, 2025, Blog posting, we wrote about the new tax law changes for 2025 and beyond. One of the topics that was highlighted was the deduction for … [Read more...] about Auto Loan Interest Deduction
New Tax Law Changes
With every new presidential administration comes a new tax law. This administration is no different. President Trump has signed into law the “One Big Beautiful Bill”. Here are some … [Read more...] about New Tax Law Changes
Supreme Court Revives BOI Reporting
The U.S. Supreme Court issued an order reviving the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) reporting requirements. Reporting entities established before … [Read more...] about Supreme Court Revives BOI Reporting
Tax Court Denies Clothing Donations of $25,446
Duncan Bass worked hard. He worked one full-time job for about 53 hours a week and a second job for about 15 hours a week. In addition to his W-2 jobs, Mr. Bass operated a landscaping, … [Read more...] about Tax Court Denies Clothing Donations of $25,446
Inherited IRAs
IRS Finally Figures Out What is Going On Way back in 2019, Congress passed the SECURE Act. One provision of this Bill changed the taxation of inherited IRAs on non-spousal … [Read more...] about Inherited IRAs
