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The One Big Beautiful Bill Act: Key 2025 Tax Changes for Individuals & Businesses

June 02, 2025 Slattery & Holman, P.C.

The U.S. House of Representatives passed its sweeping tax and spending bill, dubbed The One, Big, Beautiful Bill Act (OBBBA), by a vote of 215 to 214. The bill includes

2025 EV Tax Credit Changes: What the House GOP Bill Means for You

May 27, 2025 Slattery & Holman, P.C.

The U.S. House of Representatives has passed its budget reconciliation bill, dubbed The One, Big, Beautiful Bill. Among other things, the sweeping bill would eliminate clean vehicle credits by the

IRS Clarifies Theft & Fraud Loss Deductions for Scam Victims | 2025 Update

May 07, 2025 Slattery & Holman, P.C.

The Tax Cuts and Jobs Act (TCJA) significantly limited the types of theft losses that are deductible on federal income taxes. But a recent “advice memo” (CCA 202511015) from the

Disaster Victims May Qualify for Tax Relief, Including on Amended Returns

March 20, 2025 Slattery & Holman, P.C.

Victims of presidentially declared disasters in recent years who couldn’t previously claim a casualty loss deduction may now be able to claim a refund. Additional tax relief also might

President Trump’s Tax Plan: Key Proposals & Changes You Need to Know (2025)

February 07, 2025 Slattery & Holman, P.C.

President Trump and the Republican Congress plan to act swiftly to make broad changes to the United States — including its federal tax system. Congress is already working on legislation

Federal Court Rules Against DOL’s “White Collar” Overtime Rule

December 02, 2024 Slattery & Holman, P.C.

A federal district court judge has struck down the Biden administration’s new rule regarding the salary threshold for determining whether certain employees are exempt from federal overtime pay requirements. The

IRS 2025 Retirement Contribution Limits & MAGI Phaseout Explained

November 15, 2024 Slattery & Holman, P.C.

The IRS has issued its 2025 inflation-adjusted contribution amounts for retirement plans in Notice 2024-80. Many retirement-plan-related limits will increase for 2025 — but less than in prior years. Thus, depending

How the 2024 U.S. Election Could Impact Your Taxes: Key Changes and Proposals

November 11, 2024 Slattery & Holman, P.C.

The outcome of the November 5 election is likely to significantly impact taxes. Many provisions in President-elect Donald Trump’s signature tax legislation from his first time in the White House, the

How will the 2025 Inflation Adjustment Numbers Affect Your Year-End Tax Planning?

October 28, 2024 Slattery & Holman, P.C.

The IRS has issued its 2025 inflation adjustment numbers for more than 60 tax provisions in Revenue Procedure 2024-40. Inflation has

Ease the Financial Pain of Natural Disasters with Tax Relief

October 10, 2024 Slattery & Holman, P.C.

Hurricane Milton has caused catastrophic damage to many parts of Florida. Less than two weeks earlier, Hurricane Helene victimized millions of people in multiple states across the southeastern portion of