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

Throwing a Party for Your Workforce? Know the Tax Rules

by TaxGenuity Tax Experts | Dec 5, 2025 | Tax Advice

The holiday season is here once again, and for some workplaces, that means holiday parties. Although the rules for deducting business entertainment expenses changed several years ago, you may still qualify for some holiday party write-offs for this year, possibly even...

Make Sure Every Donation Counts

by TaxGenuity Tax Experts | Dec 2, 2025 | Tax Advice

Charities obviously benefit when you donate to them. But you can also benefit by securing a tax deduction on your 2025 income tax return if you donate by Dec. 31, itemize deductions and comply with the tax rules. Here are a few rules to keep in mind: Ensure you’re...

Easier Reporting Rules for Some Forms

by TaxGenuity Tax Experts | Nov 28, 2025 | Tax Advice

A pesky reporting burden for businesses will be eased by legislation signed into law on July 4. Currently, businesses must issue a Form 1099-MISC to any payee (and to the IRS) when transactions reach $600 in a calendar year. And businesses that pay $600 or more for...

Making Tax-Free Gift in 2025 and 2026

by TaxGenuity Tax Experts | Nov 26, 2025 | Tax Advice

As the year winds down, you may be hoping to combine smart estate tax planning with tax savings using the annual gift tax exclusion. For 2025 and 2026, this exclusion is $19,000, which you may give in cash or property to any number of family members or friends,...

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...