by PSA CPA | Mar 1, 2025 |
As tax season unfolds, early data from the IRS indicates that Americans are receiving significantly smaller tax refunds compared to last year. According to the latest update from the IRS, the average tax refund as of February 14, 2025, stood at $2,169—about 32% lower...
by PSA CPA | Jan 1, 2025 |
The rising cost of senior care can create financial challenges for families. However, the tax code provides certain deductions and benefits that can help offset these expenses, though many remain underutilized. Understanding these overlooked opportunities can make a...
by PSA CPA | Jan 1, 2025 |
If you and your significant other live together but aren’t married, you might share many expenses—and in some cases, one of you may be financially supporting the other. This might leave you wondering: can you claim your boyfriend or girlfriend as a dependent on your...
by PSA CPA | Jan 1, 2025 |
As of January 1, 2025, nine U.S. states are reducing individual income tax rates, bringing potential financial relief to millions of residents. According to the Tax Foundation, this wave of tax cuts reflects a nationwide push to lower taxes, a trend that began during...
by PSA CPA | Dec 1, 2024 |
The IRS has introduced significant changes for U.S. cryptocurrency investors. Starting January 1, 2025, crypto cost basis tracking will transition from the Universal method to the Per-Wallet method. This adjustment, detailed in Rev. Proc. 2024-28, will impact how...
by PSA CPA | Dec 1, 2024 |
Imagine you’re a business owner looking to purchase a dependable, heavy-duty vehicle for your company—perhaps a large truck or SUV. At the same time, you’re concerned about managing your business taxes effectively. Here’s the good news: the IRS Section 179 deduction...
It’s interesting to see how Social Security benefits are taxed differently depending on income and location. I didn’t realize only…