The Tax Cuts and Jobs Act (TCJA) largely winds down at the end of 2025. Maybe. Many of its provisions are political, so much depends on who's in the White House and who has control of the House and Senate at that time. Before you start planning, glean some...
Taxes
New school year reminder to educators; maximum educator expense deduction is $300 in 2023
As the new school year begins, the Internal Revenue Service reminds teachers and other educators of the maximum educator expense deduction of $300 for out-of-pocket classroom expenses for 2023 when they file their federal income tax return next year. This is the same...
Information for organizations applying for tax-exempt status
Organizations applying for tax-exempt status must be organized and operated exclusively for any of these purposes: charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, or...