Tax Planning Considerations in Light of the 2024 Election: What You Need to Know as a Taxpayer
With Donald Trump poised to return to the White House next January, tax planning will be a top priority as his administration looks to fulfill campaign promises related to tax reform. One of the most pressing issues will be the expiration of key provisions from the 2017 Tax Cuts and Jobs Act (TCJA). This law […]
Inflation Increases 2025 Amounts for Health Savings Accounts
The IRS has recently issued the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These annual adjustments, based on inflation, are announced earlier than other inflation-adjusted amounts to give employers adequate time to prepare for the upcoming year. Fundamentals of HSAs At Accavallo & Company, we understand the importance of HSAs in your financial planning. […]
Unlocking Tax Benefits: How Nonprofits Can Benefit from the Inflation Reduction Act
When the Inflation Reduction Act (IRA) was enacted in late 2022, many tax-exempt organizations may have overlooked its potential benefits assuming it was irrelevant to them. Contrary to this belief, the IRA offers provisions that can be advantageous for tax-exempt entities. Let’s delve into the details to explore how your nonprofit can leverage these tax […]
