NIL Contributions: Are They Eligible for Tax Deductions?
Recently, one of our clients, a business owner, approached us. His daughter, a talented volleyball player, earned a full athletic scholarship for college, but it didn’t kick in until her sophomore year. This got us wondering: Are there any special tax rules that might let our client’s business cover his daughter’s freshman year tuition as […]
2023 Tax Season: What’s Different Due to Inflation?
Inflation is something we all deal with, but the IRS is here to help by making adjustments every year. They’ve made some important changes for 2023. This year, the standard deduction has gone up, and you can now contribute more to your retirement accounts. The IRS also tweaked the federal income tax brackets and capital […]