Our Blog

Lena Tassi, CPA, MSA •

​The One Big Beautiful Bill Act (OBBBA), signed in July 2025, changed the deductibility of charitable giving for individual and business taxpayers beginning after December 31, 2025. Here is a quick overview of the changes and how they may impact you.

Rebecca Acorn, CPA, MST •
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​A 529 plan is a qualified tuition plan by IRC Section 529. 529 Plans were created to allow tax free savings for college.  Distributions from the plan are not included in income if the distributions are for qualified higher education expense for the designated beneficiary.  The OBBBA, expanded the categories and amounts allowed for tax-exempt distributions.

Brenda Quinn, EA •

​The One Big Beautiful Bill Act (OBBBA) introduces three deductions which may affect both seniors and working taxpayers from 2025 through 2028.
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Alyssa Hodges, CPA, CVA •

​The 2017 Tax Cuts and Jobs Act (TCJA) significantly reduced the amount of taxes that individual taxpayers can deduct as part of itemized deductions on individual income tax returns. As a workaround, many states implemented pass-through entity (PTE) tax options and elections on their business tax returns.

​The One Big Beautiful Bill Act (OBBBA) was silent on the treatment of PTE taxes, however, there are significant changes to the rules for individual taxpayers who itemize which may make PTE taxes and elections less favorable moving forwards.

Jason Innerfield •

Beginning in 2025, individuals may qualify for a new federal tax deduction for interest paid on a personal auto loan, thanks to recent changes in federal tax law. This deduction is available even if the vehicle is for personal use only, marking a major shift from prior rules.