The backdoor Roth IRA strategy can trigger an unexpected tax bill if you overlook the pro-rata rule, which requires the IRS to treat all of your traditional IRA balances together when calculating how much of a conversion is taxable. A separate account, a prior 401(k) rollover, or even a year-end IRA balance you didn't have at the time of conversion can all affect the result. Before contributing or converting, review your full IRA picture to avoid a costly surprise at tax time.

Starting in 2027, a new federal tax credit will allow eligible taxpayers to reduce their tax liability dollar for dollar by making cash contributions to qualifying Scholarship Granting Organizations that fund K-12 education. Unlike a charitable deduction, this credit directly offsets what you owe, with individual credits of up to $1,700 per year and up to $3,400 for married couples filing jointly. If you support education-focused giving, now is the time to understand how this new credit interacts with existing state programs and your overall charitable strategy.

The IRS has released its 2026-2027 special per diem rates for business travel, and the changes took effect October 1st. If your company reimburses employees for travel expenses, now is the time to update your rates, review your reimbursement policy, and ensure your expense systems reflect the latest IRS guidance before outdated rates create compliance problems. Read our latest article to learn what changed, what it means for your business, and what your finance team should do right now.

Your first profitable year in business is worth celebrating. But it can also bring expensive tax surprises, especially if you're still managing the business like you did when revenue was lower. Here are the most common mistakes new business owners make and what to do instead.

The IRS is replacing its First Time Abate program with a new Automatic Exemption from Penalty (AEP), which will automatically prevent certain penalties for eligible taxpayers with a strong compliance history. Starting with 2025 tax year returns and 2026 quarterly returns, qualifying individuals and businesses may avoid failure-to-file, failure-to-pay, and failure-to-deposit penalties without needing to call the IRS or submit a separate request. Understanding the eligibility requirements and transition timeline is key to making the most of this change.

As home values rise, the federal home sale exclusion may no longer be enough to eliminate capital gains tax when a property is sold or inherited. The difference between a large tax bill and a smaller one can come down to how well a homeowner documented capital improvements over the years. Keeping a permanent record of qualifying expenses is one of the simplest steps homeowners can take to protect themselves.

If your business sells online, has remote employees, or uses third-party fulfillment, you may owe taxes in states where you've never filed a return. Learn how physical presence and economic nexus rules work, what triggers an obligation, and what to do if your business has unexpected exposure.

The IRS just made it easier for families to fund Trump accounts without triggering an unexpected gift tax filing requirement. In Revenue Procedure 2026-25, the IRS established a safe harbor that allows qualifying donors to contribute cash to a child's Trump account and skip Form 709 entirely, as long as key conditions are met. Here's what you need to know before making contributions.

For 2026, the IRS has raised contribution limits across retirement plans, IRAs, and HSAs, giving high-income households more room for tax-advantaged saving. The households that benefit most are not simply those that max out every account, but those that act early and decide deliberately which accounts to prioritize, how to coordinate Roth and pretax decisions, and how contributions fit within a broader tax and cash-flow plan. With the right strategy in place at the start of the year, these higher limits become a meaningful planning opportunity rather than a number on a checklist.

Nonprofits are disproportionately vulnerable to occupational fraud due to small administrative teams, part-time board oversight, and heavy reliance on cash-based transactions. Asset misappropriation schemes such as skimming, billing fraud, and expense reimbursement abuse are among the most common threats, and the typical scheme goes undetected for over a year. By implementing practical internal controls, strengthening board oversight, and engaging a CPA proactively, nonprofits can significantly reduce their exposure before a loss occurs.

Getting married triggers significant tax changes that catch many couples off guard, from a new filing status that takes effect the moment you say "I do," to withholding gaps that can result in an unexpected tax bill in April. Beyond filing and withholding, newlyweds also need to address name and address updates, healthcare coverage decisions, HSA eligibility changes, and dependent-related credits before year-end. Tackling these adjustments proactively, rather than waiting until tax season, helps couples avoid penalties, protect their refunds, and start their financial life together on solid footing.

The early career and young family years bring a rapid increase in financial complexity, as growing income, expanding responsibilities, and long-term decisions around saving, investing, and taxes all converge at once. Read on to learn how a coordinated financial strategy now can create meaningful wealth-building momentum for years to come.

Effective financial planning isn't a one-time event, it's an ongoing process that must adapt as your life, income, and goals change over time. From building early savings to navigating tax strategy in peak earning years to preparing a sustainable retirement income, each life stage brings new challenges and opportunities that a static plan simply can't address. Read on to learn how a lifecycle-based approach to financial planning can help you make smarter, more coordinated decisions at every stage of the journey.

Filing a tax extension buys you time, but only if you use it wisely. From revisiting your April payment estimate to gathering missing documents and staying on top of current-year obligations, the months between now and October 15th are a valuable planning window. Read on to learn how to make the most of your extension and avoid a costly repeat of the same tax challenges next year.

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs have been reauthorized and extended through September 30, 2031. The reauthorization includes several notable changes, including higher funding ceilings, expanded agency participation, new foreign-entity security screening requirements, and a new large-award allocation for qualifying businesses. Small businesses engaged in applied research and development across a broad range of industries should take note of these programs as a potential source of non-dilutive grant funding.

A practical guide to using a SEP IRA, SIMPLE IRA, or solo 401(k) strategically, covering contribution limits, deadlines, employee rules, tax planning, and when each plan makes the most sense.