Many parents know the struggle of watching their paychecks shrink while their kids' dreams grow. A new proposal aims to ease that squeeze by letting families deduct up to $5, 000 from their taxes for youth activities. The bill covers everything from sports leagues to music lessons, as long as the ch
A man from Ohio is suing the tax agency after it denied him a large refund he believes should cover losses from a crypto scam. The lawsuit was filed in the Southern District of Ohio and centers on an alleged “pig‑butchering” scheme that stole more than $800, 000 from the plaintiff. He claims h
Taxpayers who bought a brand‑new car in 2025 may now reduce the amount of interest they pay on their auto loan. The rule comes from a recent law that also dropped taxes on tips and overtime for certain workers and scrapped an electric‑vehicle credit. The new deduction only applies to loans taken aft
Tax season can be a headache for small business owners. It's not just about filling out forms. It's about understanding how taxes impact the health of a business. Many small businesses struggle to survive, and taxes play a big role in that. Small businesses make up a huge part of the U. S. economy.
Being self-employed comes with a lot of freedom, but it also means dealing with taxes. The good news is that there are plenty of tax deductions that can help you save money. Let's break down some of the most common ones. First up, retirement savings. Just because you're self-employed doesn't mean y
In 2026, if you use your personal car for work, you might notice a small change in your tax deductions. The IRS has decided to increase the standard mileage rate for business use to 72. 5 cents per mile. This is a 2. 5 cent increase from the previous year. The change is based on data analysis and in
Tax time can be confusing, especially when it comes to figuring out what counts as a business expense. Two experts from Wisconsin, Rick Kutch and Mark Leeder, share some key points to help business owners stay on track. First, let's talk about meals. Many people think any meal eaten during work hou
The Republican Party is pushing forward with a plan to reduce Medicaid spending by hundreds of billions of dollars. This move comes despite internal disagreements and a promise from former President Trump not to cut the program. The House Republicans are determined to advance key parts of their bill
The presidential election is heating up, and with it, the debate over the best economic strategy for America's businesses. Kamala Harris and Donald Trump have both released their plans, promising to slash taxes and boost the economy. But what do these plans really mean for small and big businesses?
