OB3: SOCIAL SECURITY DEDUCTION OR SENIOR DEDUCTION?
I mentioned in my last post to watch out for misinformation regarding the One Big Beautiful Bill Act (I’m calling it OB3). Let’s talk about one of the bigger ones (in my opinion): the supposed deduction that makes Social Security payments nontaxable. This one really irritates me because the Social Security Administration sent out an […]
ONE BIG BEAUTIFUL BILL (OBBB) ACT
So the One Big Beautiful Bill (OBBB) Act has passed through both houses on Congress and has been signed into law by the President. There are a LOT of tax changes in this bill, and they have many different effective dates. I have two big takeaways for you: 1) Watch out for MIS-information as we […]
DON’T AUTO-DEBIT ANY TAXES DUE FROM MY ACCOUNT UNTIL YOU TELL ME THE AMOUNT!
I hear this a few times per year from clients that know they will owe. I offer (but don’t require clients) to streamline the process for them by having my tax software initiate auto-debits from their bank account, either right away or as late as possible (Apr 15, usually) to avoid penalties. Here’s the thing: […]