Red Flags That Mean You Need Professional Tax Help Immediately
Navigating complex tax situations can be challenging, especially with diverse income sources and major life changes. This article highlights when to seek professional tax help, backed by credible data and real-life examples. Discover how professional guidance can optimize deductions, respond to IRS notices effectively, and adapt to changing tax laws, ensuring financial peace of mind.
New itemized deduction limitation will affect high-income individuals next year
Beginning in 2026, taxpayers in the top federal income tax bracket will see their itemized deductions reduced. If you’re at risk, there are steps you can take before the end of 2025 to help mitigate the negative impact. The new limitation up close Before the Tax Cuts and Jobs Act (TCJA), certain itemized deductions […]
5 ways your business can build a stronger annual budget
As the end of the year approaches, many businesses begin their budget-setting processes for the upcoming year. This annual rite of passage can be stressful, contentious and, perhaps worst of all, disappointing if your budgets often fail to achieve their objectives. The good news is that there are many ways to enhance your company’s […]
Your Financial Planning Will Never Be the Same After 2026
As financial landscapes shift due to technological advances and legislative changes, financial planning is set for a transformation by 2026. From personalized AI-driven financial advice to evolving tax laws and estate planning, staying informed and proactive is crucial. On-Target CPA in Indianapolis is ready to guide you through these changes, offering tailored strategies and local insights. Embrace the future of finance with confidence and ensure your financial security.
Review your business expenses before year end
For businesses, smart timing of deductible expenses can be a key strategy in year-end tax planning. But understanding exactly what’s deductible and what’s not isn’t easy. https://bit.ly/4rilRnp
Review your business expenses before year end
Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025 taxes and might even provide permanent tax savings. Also consider the impact of the One Big Beautiful Bill Act (OBBBA). It makes permanent or revises some Tax Cuts and Jobs Act (TCJA) provisions […]
Why start-ups should consider launching as S corporations
Launching a new business brings tough decisions. And that holds true whether you’re a fledgling entrepreneur starting your first company or an experienced businessperson expanding into a second or third enterprise. Among the most important calls you’ll need to make is how to structure the start-up for tax purposes. For many business owners, electing S corporation […]
Understanding IRS Tax Resolution: How OnTarget CPA Can Help
Facing IRS challenges can be overwhelming, but you’re not alone. OnTarget CPA provides comprehensive IRS tax resolution services to help you navigate these complex situations confidently. Audit Representation If you’ve been selected for an audit, our team will represent you before the IRS, handling all communications and ensuring your rights are protected throughout the process. […]
No tax on car loan interest under the new law? Not exactly
Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence interest or home mortgage interest, which can be deducted, subject to some limitations, if you itemize deductions on your tax return. The One Big Beautiful Bill Act (OBBBA) adds another exception for eligible car […]
The next estimated tax payment deadline is coming up soon
If you make quarterly estimated tax payments, the amount you owe may be affected by the One Big Beautiful Bill Act (OBBBA). The law, which was enacted on July 4, 2025, introduces new deductions, credits and tax provisions that could shift your income tax liability this year. Tax basics Federal estimated tax payments are designed to […]
