Tax Season 2026 is right around the corner, and now is the perfect time to get organized before filing your 2025 tax return. With new inflation-adjusted brackets and credits taking effect, taxpayers may notice changes in their refund or balance due. Preparing early can help avoid delays, reduce stress, and ensure you take advantage of every [...]
2025 was a big year for taxpayers. The passing of the OBBBA in July 2025 brought significant changes to the tax laws. By now you’ve probably heard about the no tax on tips, the no tax on overtime provisions, or the additional senior deduction. There has been a lot of speculation on how these provisions will [...]
As the year draws to a close, now is the ideal time to take advantage of tax-saving opportunities before the calendar resets. Year-end tax planning helps you reduce your taxable income, maximize available deductions and credits, and avoid unnecessary surprises when filing your return. A few proactive steps now can make a meaningful difference in your [...]
In August 2025, severe storms, flooding, straight‐line winds, and mudslides struck parts of southeast Wisconsin—including Milwaukee, Washington, and Waukesha counties—causing property damage, business interruption, and widespread hardship. In response, federal, state, and local authorities have put in place several relief programs and tax relief measures to assist residents. Below is a summary of who qualifies, what [...]
The One Big Beautiful Bill Act signed into law on July 4, 2025 has some beneficial changes to our tax laws for individuals across the country. Below are a few of the changes that go into effect for 2025. No Tax on Tips This is effective starting with tax year 2025 and set to expire after [...]
We had a great celebration of the WISCONSIN STATE FAIR at Tax Management yesterday. We enjoyed the famous cream puffs, almost as famous brownies and chocolate chip cookies direct from the dairy pavilion. We are proud to serve our community and recognize the value of our Wisconsin businesses.
The IRS continues to release recommendations and regulations for CPAs to establish secure, practical data governance with online tools. If it’s good enough for the IRS, it’s likely good enough for you. What are the real security risks associated with cloud software, and how can you mitigate them? It’s understandable to be hesitant about putting your [...]
In today’s world of virtual offices and multitasking may taxpayers use their care for business, charitable or medical transportation events. If the taxpayer decides to claim a deduction for such mileage are they inviting an IRS audit and possible, audit adjustment. The IRS has specific rules in place as to what types of driving are eligible [...]
Many taxpayers are unaware that the Trump administration has taken the first steps to put its imprint on the Affordable Care Act, reversing plans to withhold tax refunds this year from Americans who do not follow an insurance requirement in the law. Quietly the Internal Revenue Service has revoked an Obama-era instruction to taxpayers that was [...]
