Written by Peterson & Associates
The One Big Beautiful Bill Act (OBBBA), passed in 2025, permanently extended the lower tax rates and higher standard deductions originally introduced under the Tax…
Written by Peterson & Associates
Charitable Contribution deductions for non-itemizers The 2025 Tax Act introduces a permanent charitable deduction for non-itemizers, allowing individuals who do not itemize deductions to claim…
Written by Peterson & Associates
No Tax on Tips Starting in 2025, the One Big, Beautiful Bill (OBBB) introduces a federal income tax deduction for tips, allowing eligible workers to…
Written by Peterson & Associates
The One Big Beautiful Bill Act (OBBBA) brings significant updates to 529 college savings plans—expanding the types of expenses that now qualify for tax-free withdrawals….
Written by Peterson & Associates
Starting in 2026, the One Big Beautiful Bill Act (OBBBA) increases the threshold for when businesses must issue Form 1099 for payments to non-employees. Form…
Written by Peterson & Associates
The One Big Beautiful Bill Act (OBBA), signed into law on July 4, 2025, introduces significant changes to the tax code for families with children….
Written by Peterson & Associates
The One Big Beautiful Bill Act (OBBA), signed into law on July 4, 2025, changes how gambling losses are treated for tax purposes. Starting with…
Written by Peterson & Associates
The One Big Beautiful Bill Act (OBBA), signed into law on July 4, 2025, permanently eliminates miscellaneous itemized deductions from the federal tax code. These…
Written by Peterson & Associates
On July 4, 2025, the federal government passed the One Big Beautiful Bill (OBBB)—a sweeping legislative package that reshapes tax policy for individuals and businesses alike….
