Condoms are Now Officially Deductible Medical Expenses: A Taxpayer’s Guide to IRS Notice 2024-71
12/03/2025
Condoms are Now Officially Deductible Medical Expenses: A Taxpayer’s Guide For years, taxpayers and tax professionals alike navigated a gray area regarding over-the-counter reproductive health products. While prescription contraceptives have long been deductible, general-use prophylactics often fell into a category of “general health” rather than strictly “medical care.” That ambiguity ended in October 2024. With
New Preventive Care Expansions: Condoms and Contraceptives (2025 Guide)
12/03/2025
New Preventive Care Expansions: Condoms and Contraceptives For millions of Americans with High Deductible Health Plans (HDHPs), the path to affordable care often involves navigating a complex maze of deductibles before insurance kicks in. However, significant relief has arrived in the form of new IRS guidance issued in late 2024. In a move to modernize
The 2025 Telehealth Safe Harbor Extension (P.L. 119-21): A Complete Guide for HSA Owners
12/03/2025
The 2025 Telehealth Safe Harbor Extension (P.L. 119-21): A Complete Guide For millions of Americans relying on Health Savings Accounts (HSAs) to manage healthcare costs, the regulatory landscape regarding telehealth has been a rollercoaster of temporary measures and expiration dates. However, with the enactment of the “One Big Beautiful Bill Act” (Public Law 119-21) on
2026 HSA & FSA Contribution Limits: 2025 Tax Guide [Updated]
12/01/2025
2026 HSA & FSA Contribution Limits: 2025 Tax Guide [Updated] Strategic planning for 2025: Maximizing HSA and FSA contributions can yield triple-tax benefits. Date: 12/16/2025 1. The OBBBA Effect: 2026 Contribution Limits & The $7,500 Surprise The financial landscape for 2026 promises significant shifts, particularly concerning the 2026 HSA FSA limits and other key savings
2025 Section 179 Limits & Bonus Depreciation Phase-Out [New]
12/01/2025
2025 Section 179 Limits & Bonus Depreciation Phase-Out [New] The OBBBA legislation restores 100% Bonus Depreciation and doubles Section 179 limits, incentivizing heavy investment in US manufacturing. Date: 12/16/2025 The OBBBA & The ‘Gap Trap’: What Changed on July 4, 2025 Business owners and financial professionals, pay close attention: significant tax changes impacting **Section 179
Section 199A Permanence: 2025 QBI Strategies & OBBBA Guide [Updated]
12/01/2025
Section 199A Permanence: 2025 QBI Strategies & OBBBA Guide [Updated] The OBBBA Act has made the 20% QBI Deduction permanent, stabilizing tax planning for millions of small business owners. Date: 12/16/2025 The OBBBA Verdict: QBI is Permanent (With New Rules) Understanding effective 2025 QBI Strategies is now more critical than ever for business owners. The
Student Loan Tax Bomb 2025: Forgiveness & Expiration Guide
12/01/2025
The countdown to the 2026 Student Loan Tax Bomb begins as the ARPA exclusion expires. Last Updated: 2025-11-28 Federal Tax Shield Expires Dec 31, 2025: Student loan forgiveness is federally tax-free through the end of 2025. Discharges starting Jan 1, 2026, are fully taxable unless Congress acts. The "State Tax Bomb" is Live Now: Residents
Form 5695 Guide 2025: Maximizing Home Energy Credits Before OBBBA [IRS Update]
12/01/2025
Form 5695 Guide 2025: Maximizing Home Energy Credits Before OBBBA [IRS Update] Maximize your 2025 tax return by placing energy assets in service before the OBBBA repeal deadline. Date: 12/16/2025 The OBBBA Sunset: Why You Must ‘Place in Service’ by Dec 31, 2025 The clock is ticking for homeowners looking to claim significant tax savings
1099-K Threshold 2025: New Reporting Rules & OBBBA Limits
12/01/2025
The 2025 tax year brings clarity as the OBBBA restores the $20,000 reporting threshold, reducing paperwork for millions of gig workers. Last Updated: November 28, 2025 Key Takeaways ✅ Threshold Restored: The "One Big Beautiful Bill Act" (OBBBA) has officially reinstated the $20,000 and 200 transaction reporting threshold for Tax Year 2025. ✅ The "Ghost
Family Tax Benefits 2025: Trump Accounts & Child Credits Guide [New]
12/01/2025
Family Tax Benefits 2025: Trump Accounts & Child Credits Guide [New] Families must navigate new eligibility rules for the 2025 Child Tax Credit and Federal Newborn Accounts. Date: 12/16/2025 Family Tax Benefits 2025: The New $2,200 Child Credit, Trump Accounts Explained, and Why You Need Form 4547 Now The One Big Beautiful Bill Act (OBBBA)