What the new tax law could mean for you

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What the new tax law could mean for you

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July 20, 2025 , , , , , ,

One Big Beautiful Bill

As 2025 began, individual taxpayers faced uncertainty with several key provisions of the tax law that were set to expire at the end of the year. That changed on July 4, when President Trump signed the One, Big, Beautiful Bill Act (OBBBA) into law. The OBBBA not only makes many TCJA provisions permanent but also introduces several new benefits — although some other tax breaks have been removed. Below is a summary of eight areas with changes that may impact you and your family.

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Donating Your Vehicle to Charity May Not Be a Taxwise Decision

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June 13, 2019 ,

charitable vehicle donation

You’ve probably seen or heard ads urging you to donate your car to charity. “Make a difference and receive tax savings,” one organization states. But donating a vehicle may not result in a big tax deduction — or any deduction at all.
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Vehicle-Expense Deduction Ins and Outs for Individual Taxpayers

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March 12, 2019 , , , , ,

vehicle expense deduction

It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and Jobs Act (TCJA) might reduce your deduction compared to what you claimed on your 2017 return.
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