Types of Major Life Events and How They Can Affect Filing
There are several kinds of major life events that can affect your tax filing requirements, tax benefits and withholding. It could be marriage, welcoming a new child, divorce, or loss…
Is that activity just a hobby or a business?
Many people have hobbies – things they enjoy doing in their spare time – and some even make a little extra money from them. However, there’s a difference between a…
Meals Deduction Changes for 2026 Might Require Employer Action
Changes to the meals deduction that became effective January 1, 2026, might require taxpayers to immediately begin identifying and tracking a separate category of meal costs. The changes are effective…
Republicans Complete Sweeping Reconciliation Bill
The president signed into law a sweeping reconciliation tax bill in a July 4 signing ceremony, capping a furious sprint to finish the legislation before the self-imposed holiday deadline. The…
Check Withholding Now to Prepare for Next Year
Proper tax withholding now is key to avoiding surprises when you file next year. Making any needed adjustments early means you won’t have to make a big change later in…
Year-End Tax Planning for Individuals
As we approach year-end, now is the time to review 2024 and 2025 tax situations and identify opportunities for reducing, deferring or accelerating tax obligations. Crosslin has put together a planning guide to help…
2023 Year-End Tax Planning for Businesses
2023 Year-End Tax Planning for Individuals
Foreign Earned Income and Housing Exclusion
If a taxpayer is a U.S. citizen or resident alien, the rules for filing income tax returns and paying estimated taxes are generally the same whether he or she is…
Bona Fide Residence or Physical Presence Test
A resident alien is generally taxed by the United States on worldwide income, just like a U.S. citizen. A U.S. citizen or resident alien who earns income in a foreign…