Financial Tid Bits
Ready to take control of your finances? Our resource page is packed with valuable tips, tricks, and expert advice to help you make informed decisions about your money. From budgeting basics to investing strategies, we’ve got you covered.
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Jan 27, 2026 Why this matters:Taxpayers who rely on last year’s filing strategy without reviewing current-year rules may overlook deductions, misclassify income, or miss opportunities to reduce taxable income. Who is most affected? • Individuals with itemized deductions• Small business owners and self-employed filers• High-income earners subject to phaseouts The 2025 tax filing season reflects…
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The biggest change for 1099-K reporting in 2024 is the phased-in implementation of a lower reporting threshold, but it’s important to note that the original, much lower threshold was actually delayed for 2023. Here are the details: Original Change (Delayed): Phased-in Implementation: Other Changes: Keep in mind that the taxability of income earned through third-party…
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For small businesses As the year winds down, small businesses must take the time to prepare for tax season. Here are some key reminders and tips to help you navigate the process: Organize and Review Financial Records: Maximize Tax Savings: Important Deadlines: Additional Resources: Consider Seeking Professional Help: If you have complex tax situations or…
Blaine La/Car Associates 