Tax Advice | TaxGenuity, Inc. - Tax Experts & IRS Problem Solvers

5 Smart Tips for Individual Year-End Tax Planning

by TaxGenuity Tax Experts | Nov 19, 2025 | Tax Advice

Even during the last two months of the year, you can take steps to reduce your 2025 tax liability. Here are five practical strategies to consider. 1. Use Bunching to Maximize Deductions If your itemized deductions are close to the standard deduction, consider a...

Bonus Depreciation and Other Year-End Tax-Saving Tools for Businesses

by TaxGenuity Tax Experts | Nov 17, 2025 | Tax Advice

As this year comes to a close, business owners seeking to reduce their taxes for 2025 have a variety of opportunities. Here’s a look at two tax-saving tools: bonus depreciation and retirement plan contributions. Assets Eligible for Bonus Depreciation First-year bonus...

Should You Be Making Estimated Payments?

by TaxGenuity Tax Experts | Nov 14, 2025 | Tax Advice

If your federal tax withholding isn’t enough to cover your total tax liability, you may need to make estimated tax payments. This typically applies if you have income from sources such as interest, dividends, capital gains or self-employment. The following rules...

Enhanced SALT Tax Break Will Help Many Homeowners

by TaxGenuity Tax Experts | Nov 12, 2025 | Tax Advice

The One Big Beautiful Bill Act (OBBBA), enacted on July 4, will allow more taxpayers to fully deduct their state and local tax (SALT) expenses (including property tax). Here are the details. SALT Deduction Expanded Under the Tax Cuts and Jobs Act, the itemized...

Can Your Business Benefit from the WOTC?

by TaxGenuity Tax Experts | Nov 10, 2025 | Tax Advice

Employers who hire new workers may qualify for a tax benefit, but they shouldn’t wait too long. The Work Opportunity Tax Credit (WOTC) is a valuable federal tax credit that incentivizes employers to hire from certain targeted groups that face employment barriers. But...

Dependent Care Flexible Spending Accounts for Your Business

by TaxGenuity Tax Experts | Nov 9, 2025 | Tax Advice

Employers seeking to offer family-friendly benefits may want to consider flexible spending accounts (FSAs) for dependent care. These FSAs let employees make pre-tax contributions through payroll withholding to help cover eligible expenses. Because of the major tax...

Say Goodbye to Paper Checks

by TaxGenuity Tax Experts | Nov 8, 2025 | Tax Advice

Beginning Sept. 30, 2025, the federal government will generally no longer issue paper checks, including those for tax refunds, Social Security benefits and more. Also, certain federal agencies, such as the IRS and the Dept. of Labor (DOL), will generally stop...