Required minimum distributions (RMD) are the minimum amounts you must withdraw annually from select retirement accounts, such as traditional IRAs, 401(k)s and other employer sponsored plans. RMDs were created to prevent taxpayers from using these tax-advantaged retirement accounts as a permanent tax shelter.

The One Big Beautiful Bill Act (OBBBA) introduces two popular tax relief provisions for eligible workers: “no tax on tips” and “no tax on overtime.” These benefits apply as above-the-line deductions on individual, federal income tax returns for 2025 through 2028.

The new One Big Beautiful Bill Act (OBBBA) introduces a senior deduction that makes Qualified Charitable Distributions (QCDs) even more valuable. By donating directly from an IRA, seniors can reduce taxable income, manage AGI, and avoid higher Medicare premiums. QCDs now play a bigger role in helping retirees maximize deductions and charitable impact under the updated tax rules.

July 9, 2025 The House of Representatives passed the final version of the One Big Beautiful Bill Act (OBBB) on July 3, 2025, following a...

April 23, 2025 The Research and Development (R&D) Tax Credit is one of the most underutilized tax incentives available to U.S....

April 18, 2025 The Research and Development (R&D) Tax Credit is one of the most valuable incentives available to businesses in the U.S.,...

March 26, 2025 On Friday, March 21, 2025, the U.S. Department of the Treasury and FinCEN introduced an interim final rule that brings a...

March 7, 2025 On March 2, 2025, the U.S. Department of the Treasury announced a major shift regarding the enforcement and nature of the...

February 19, 2025 In an important update, the judge in the Smith v. United States Department of the Treasury  case has lifted the order...