Posts Tagged ‘tax accounting solutions Brookfield’

The One Big Beautiful Bill Act (OBBBA), enacted in 2025, permanently extended the federal income tax deduction for qualified business income (QBI), originally introduced under the Tax Cuts and Jobs Act. As a result, many property owners are now asking whether their rental real estate activities qualify for this valuable tax benefit. If you’re searching…

Planning for the future involves more than simply saving money — it requires careful financial and estate planning, especially when considering the high cost of long-term care. Few things can derail an estate plan as quickly as unexpected long-term care (LTC) expenses. Many individuals will require some form of care later in life, whether it’s…

No one likes to contemplate his or her own mortality, but ignoring the need for an estate plan or procrastinating in the creation of one is asking for trouble. If you haven’t started the process, don’t delay any longer. Working with experienced professionals who provide tax accounting solutions Brookfield residents rely on can help ensure…

If you’re in the market for a new home, your IRA might be a source of funding, thanks to a special exception in the tax law. Background: Normally, you’re required to pay a 10% tax penalty if you withdraw funds from an IRA before reaching age 59½. However, the tax law includes several exceptions that…

If you own a family business, chances are the company’s name and reputation are well-known in the community. That makes your business more than just a source of income — it reflects your values, history, and future. And that’s exactly why charitable giving isn’t just a nice gesture — it’s a smart business strategy. With…

At the end of last year, the IRS announced its annual inflation adjustments to the optional standard mileage rates used to calculate the deductible vehicle operating costs for business, charitable, medical, or moving purposes. And there’s good news for those who drive for work: the cents-per-mile deduction increased for this year — even though the…

The One Big Beautiful Bill Act (OBBBA), enacted in the summer of 2025, introduced a new temporary federal income tax deduction for auto loan interest. On January 2, 2026, the IRS published proposed regulations in the Federal Register clarifying how the write-off works. The deduction is available whether or not taxpayers itemize their returns and…