Tax Planning for Income
You don’t want to pay more in federal income tax than you have to. With that in mind, here are five things to consider when it comes to keeping more of your income.
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Employee Benefits for Special Circumstances
Most competitive employee benefit packages provide retirement, vacation, health, vision, dental, basic life, and disability insurance benefits, yet business owners might also consider additional programs to grab the attention of potential new hires. Fortunately, there are many benefit programs available, covering a variety of special circumstances, that can help round out and differentiate your offerings.
2026 IRA and Retirement Plan Limits
Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2026.
Will Tax Law Changes Impact Your Giving Strategy?
You may donate money to charitable organizations throughout the year, simply because you wish to support causes that you care about. However, beginning in 2026, a new set of tax rules will determine the deductibility of your donations and might affect how much you can afford to give — for better or worse.
New “No Tax on Tips” Deduction Explained
With the enactment of the OBBBA in July 2025, a new deduction for tips is effective for tax years 2025 through 2028. Here is a summary of the new provision and the occupations that will be affected.
Mandatory Roth Catch-Up Contributions Begin in 2026
For nearly a quarter century, employers have been able to offer their retirement savings plan participants age 50 and older a valuable opportunity — the chance to make additional catch-up contributions to their plan.1 Thanks to the SECURE 2.0 Act passed in 2022, that opportunity became even more valuable: Employers may now allow plan participants age 60 to 63 to contribute even more than their other catch-up eligible peers through “super catch-ups.”
Understanding the New Trump Accounts
ith the enactment of the One Big Beautiful Bill Act in July 2025, Congress introduced a new class of tax-advantaged savings vehicles for minors known as Trump accounts. Here’s a breakdown of the key features.
Interest Rates on Federal Student Loans Drop Slightly for 2025-2026
Every May, interest rates on federal student loans are reset for the upcoming school year. The rates are calculated by combining the yield on the 10-year U.S. Treasury note with an additional fixed amount set by Congress.
Buying Supplemental Health Insurance: Medigap
Medicare won’t cover all of your health-care costs during retirement, so you may want to buy a supplemental medical insurance policy known as Medigap. Offered by private insurance companies, Medigap policies are designed to cover costs not paid by Original Medicare (Parts A and B), helping you fill the gaps in your Medicare coverage. You’ll pay the private insurance company a monthly premium in addition to the monthly Part B premium you pay to Medicare
Exceptions to the 10% Early-Withdrawal Penalty
There are certain situations in which you are allowed to make early withdrawals from a retirement account and avoid the tax penalty. (Check your specific plan provisions to see whether a particular withdrawal option is available.)
IRAs and employer-sponsored retirement plans have different exceptions, although the rules are similar.