The many tax-related provisions that went into effect last year after the One Big Beautiful Bill Act (OBBBA) was signed into law are affecting 2025 federal income tax returns being filed now. However, some OBBBA provisions aren’t taking effect...
To make it easier for you to drop off and pick up your tax documents, our Tyler, Longview, and Frisco offices will be open through April 15, 2026, during the following hours: Monday–Thursday: 8:00 a.m. – 6:00 p.m.Friday: 8:00 a.m. – 5:00 p.m.Saturday: 8:00 a.m. –...
Effective December 24, 2025, the United States Postal Service has implemented changes that may affect the postmark date, and that date may now be later than the date an item is dropped in the mail. Because tax deadlines are based on the postmark date, mailing close to...
Many businesses offer health care and dependent care flexible spending accounts (FSAs) as part of their employee benefits package. These plans provide valuable tax savings to employees and payroll tax savings to employers. If your company operates a calendar-year FSA...
Materiality is a core concept that shapes the entire financial reporting process. In simple terms, materiality helps determine which financial information is significant enough to influence decisions — and which details likely won’t affect the overall picture....
Personal interest expense generally can’t be deducted for federal tax purposes. There are, however, exceptions. Here are four, one of which is a new break under the One Big Beautiful Bill Act (OBBBA), which was signed into law in 2025. 1. Mortgage interest Perhaps the...
When your financial statements arrive, it’s tempting to glance at the bottom line and move on. After all, you’ve got customers to serve and employees to manage. But your income statement is more than a report card. It can be a strategic tool to help you spot growth...
Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax credits, because they reduce your tax liability dollar for dollar (unlike deductions, which only reduce the amount of income...
