The IRS is cracking down on firms pushing fraudulent ERTC claims, knowing clients didn't qualify. "They are going after these firms big time," especially those profiting off inflated refunds . #onebigbeautifulbill #OBBB #ERTC #Taxes #ERTC #Taxes

New tax-deferred investment accounts for kids are coming! "Trump Accounts" allow contributions from parents, relatives, & even orgs, growing tax-deferred until age 18. Born 2025-2028? The government kicks in $1,000! 💰 #onebigbeautifulbill #OBBB #InvestingForKids #TaxTips

Big changes to 529 accounts! Now covering tuition, books, online learning, even therapies for students with disabilities. Plus, expanded limits for K-12 and trade school expenses. Huge win for education access! #CollegePlanning #EducationFunding #onebigbeautifulbill #OBBB

Good news for service industry workers! A new law offers a deduction on reported tips up to $25,000 for eligible earners from 2025-2028. #onebigbeautifulbill #OBBB #taxes #taxlaw

Part 2 no tax on tips explained #bigbeautifulbill #taxreform2025 #trumptaxcuts #notaxontips

Employers can now offer up to $5,250 annually, tax-free, towards employees' school or student loans. A "nice little fringe benefit" available to all employers, if offered company-wide. #EmployeeBenefits #StudentLoans #EmployeeBenefits

Why do accountants work so much #meme #breakingbadmemes #accounting #taxseason #cpa

Charitable donations to 501(c)(3) organizations that provide scholarships may now be eligible for a deduction of up to $1,700. This is a new opportunity for those who donate to scholarship funds. #scholarships #donations

Starting in 2026, meals provided by employers for employees will no longer be tax deductible. This differs from client meals, which remain 50% deductible. #taxdeduction #employeebenefits

The return of 100% expensing lets businesses immediately deduct the full cost of assets like equipment and furniture. While this applies to federal taxes, state rules may vary, potentially creating differences in income reporting and timing. #taxTips #depreciation

A new law imposes a 90% limitation on deducting wagering losses, which is unfavorable for taxpayers. Even if someone loses more than they win, they may still have to report income, making gambling a tax-inefficient way to make money. #taxes #gambling

DEMOCRATIZING ACCESS TO ALTERNATIVE ASSETS FOR 401(K) INVESTORS - executive order explained

Upcoming checks on household income are becoming more detailed. Failure to file and reconcile premium tax credits can result in ineligibility for premium tax credits in the following year. #taxes #incometax

A new law imposes a 1% tax on foreign remittance transfers, to be paid by the sender and remitted quarterly. Individuals sending money overseas should check with services like Western Union and Wise for implementation details. #remittancetransfer #taxlaw

The IRS is targeting firms that processed fraudulent ERTC claims, knowing the applicants didn't meet requirements. The agency paused processing new claims and is reviewing those filed between September 2023 and January 2024. #ERTC #IRS #Fraud

The threshold for information reporting for certain payees is set to increase. Starting in 2026, businesses will need to issue a 1099-MISC or 1099-NEC for contractors paid more than $2,000, up from the current $600 threshold. #taxes #smallbusiness

Tai Lopez charged with ponzi fraud by the SEC. Make sure you claim your losses on 2025 income tax returns #tailopez #ponzi #sec #scam #taxes

Involved in a scam or hack of your cryptocurrency or other investments? NEW IRS 2025 update allows Ordinary Theft Tax Loss Write off #IRS #scam #cryptocurrency #investment #taxes

If tax advice is too good to be true don’t believe it #IRS #scam #investment #taxes #taxstrategy

Cryptocurrency Market Crash 2025 🔻 Do this now to save on income taxes #accounting #business #taxes #taxeducation #education #taxaccountant #mactax #accountingpodcast #podcast #moneyeducation #irs #taxplanning #nft #cryptocurrency #bitcoin #daveramsey #longislandcpa