By Christian Hudspeth CFP® With tax season in full swing, here are four tax-saving and wealth-building opportunities that we hope you don’t miss out on as the new OBBBA tax law takes effect. New $40,000 tax deduction for homeowners                      Own a home or a second home? You may deduct up to $40,000 in state and...Continue Reading

By Christian Hudspeth, CFP® Congress’ Summer 2025 passage of President Trump’s “One Big Beautiful Bill Act” (OBBBA) keeps most of the familiar tax rules we’ve known since 2018. Importantly, all of the same income tax brackets have returned and have been made permanent, so no one’s tax rates have gone up as they would have...Continue Reading

by Christian Hudspeth, CFP® It’s tax season again, and while December 31 of last year has come and gone, it’s not too late to make smart moves to reduce your tax bill and buy yourself some time. As a former tax preparer who has spent Tax Day (April 15th) with clients filing taxes at the...Continue Reading

By Christian Hudspeth, CFP® “Should I hire someone to do my taxes or could I do this myself?” This is a question I often received in my days as a professional tax preparer several years ago. Being in the fortunate position of having plenty of business, I had an honest response that depended on the...Continue Reading

by Christian Hudspeth, CFP® As we approach the season of generosity, you may find it heartwarming to know that more than 50% of all US households (and 81% of affluent households) donate to qualified charities of all kinds each year according to CCS Fundraising’s Philanthropic Landscape Report. Almost all (97%) who donated said their decision...Continue Reading

by Christian Hudspeth, CFP® Property tax cuts may be on the way for Texans this year. Using some of the state’s $30-billion budget surplus, Texas legislators recently passed what they call “the largest property tax cut in the history of Texas,” which aims to reduce the average Texas homeowner’s annual property tax bill by roughly...Continue Reading

Here are more than 30 commonly-missed expenses you could claim as itemized deductions before it's time to file.Continue Reading

As everyone continues to get information on the CARES Act, we want to provide you with some of latest updates we have seen.  Yesterday, April 8, 2020, the Treasury Department issued an updated Paycheck Protection Program F.A.Q.  The Paycheck Protection Program formally launched on Friday, April 3rd.  The program is in very high demand and has...Continue Reading

If your income hits a certain level, you may face an additional wrinkle in calculating your taxes: the net investment income tax (also referred to as the unearned income Medicare contribution tax). This 3.8% Medicare tax applies to some or all of your net investment income if your modified adjusted gross income (MAGI) exceeds certain...Continue Reading

The new tax law has made it a little more difficult to decide how you make your gifts to charity. Here’s why: The standard deduction has increased from $12,000 to $24,000. So, what does that mean to you? On your tax return you can deduct the larger amount of the standard deduction ($12,700 for married...Continue Reading