For the first half of the year, individual taxpayers faced a lot of uncertainty. Several provisions from the Tax Cuts and Jobs Act of 2017 (TCJA)...
KreativeElement
Charitable Contributions (OBBA)
Do you contribute to charitable organizations? If so, recent legislation—the One Big Beautiful Bill Act (OBBBA)—includes significant changes to the...
IRS to End Paper Checks: What Taxpayers Need to Know
Starting September 30, 2025, the IRS, Social Security Administration (SSA), and other federal agencies will stop issuing paper checks for tax...
Major Tax Law Changes Coming for Homeowners in 2025
The One, Big, Beautiful Bill Act (OBBBA), signed into law on July 4, introduces several important tax changes for homeowners starting in 2025. These...
Strengthening Internal Controls in Small Organizations
Small organizations often face challenges in maintaining a robust internal control environment due to limited resources. However, there are still...
Choice of Entity: Advantages and Disadvantages of Each Type
Choosing the right business entity is one of the most critical decisions entrepreneurs, investors, and small business owners must make. The...
FinCen Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines
In a recent announcement, the Financial Crimes Enforcement Network (FinCEN) declared that it will not impose fines or penalties on companies failing to file or update Beneficial Ownership Information (BOI) reports by the current deadlines set under the Corporate Transparency Act (CTA). This decision aims to alleviate regulatory burdens on businesses while ensuring that entities posing significant law enforcement and national security risks are prioritized.
Retirement Plans for the Self-Employed in 2025: What You Need to Know
If you’re self-employed and have no employees, planning for retirement is entirely up to you. The good news? There are several tax-advantaged retirement plans designed specifically for business owners like you. With 2025 contribution limits updated, now is the perfect time to evaluate your options and maximize your savings.
NOSAL PROFESSIONAL GROUP, P.C. YEAR-END TAX PLANNING MEMORANDUM
Another year is quickly coming to an end. This memorandum is intended to give you some ideas on saving taxes for 2024. However, it is general in...
Overview of the New Overtime Rules for Salaried Employees
Starting January 1, 2025, the U.S. Department of Labor (DOL) will implement new overtime rules that raise the salary threshold for employees who are...
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