Claiming charitable donations on your taxes can reduce your taxable income, but the IRS requires specific documentation to prove your deductions. Whether you donate cash, property, or other items, knowing exactly what counts as valid charitable donations tax deduction proof ensures your contributions are deductible and protects you in case of an IRS audit. This […]
Is Overtime Pay Taxed Under the One Big Beautiful Bill?
Overtime pay is an integral part of many workers’ compensation packages. While employees may appreciate the boost to their paychecks, questions often arise about how overtime earnings are taxed. This is especially true after the passage of the One Big Beautiful Bill in July 2025. Understanding the tax treatment of overtime pay is essential for managing […]
How IRS Installment Agreements Work
Key Takeaways: Manage IRS debt over time: Installment agreements let taxpayers pay monthly, pause most collection actions, and reduce failure-to-pay penalties. Various plan options: Plans include Short-Term, Guaranteed, Direct Debit, Simple (individuals), Streamlined (businesses), Regular, and Partial Payment, each with different terms and fees. Eligibility requirements: Must have filed all returns, comply with current obligations, […]
How to File Taxes as a Musician or Artist
Filing taxes as a musician or artist can feel overwhelming, especially when your income comes from multiple sources like gigs, royalties, teaching, merchandise, licensing, or commissions. Unlike traditional employees, artists are often considered self-employed, which means different rules for reporting income, paying self-employment tax, and claiming deductions. The upside? With proper planning and record-keeping, you […]
Massachusetts Treasury Check Fraud: $8.8 Million Scheme Leads to Federal Charges
In one of the largest Treasury check fraud cases to emerge from Massachusetts, federal authorities have charged eight individuals with allegedly stealing $8.8 million in tax refunds that belonged to legitimate taxpayers. The scheme unfolded across Eastern Massachusetts in 2023 and 2024, affecting multiple communities and financial institutions. Three of the eight defendants have already […]