Tax Law Updates
January 11, 2025
2025 Tax Year Updates and Changes
The IRS has announced several important changes for the 2025 tax year:
- Standard deduction increased to account for inflation
- New energy credits for sustainable home improvements
- Updates to retirement account contribution limits
December 15, 2024
End-of-Year Tax Planning Considerations
Key points to consider before the year ends:
- Last chance for 2024 retirement contributions
- Charitable giving deadlines
- Business expense documentation requirements
November 30, 2024
New Business Expense Guidelines
The IRS has released updated guidelines for business expense deductions:
- Modified home office deduction calculations
- Updated mileage rates for 2025
- New requirements for digital receipt storage