Big Changes Ahead: What the OBBBA Means for Your Itemized Deductions
Here's a breakdown of the recent tax law updates, focusing on what's new for individuals, particularly those who itemize deductions. These changes affect your tax planning starting with the 2025 tax year.Key Changes to Itemized DeductionsNew Overall Limit on...
The Tax Guide to Choosing Your Business Entity: Making the Decision #LessTaxing
Starting a business is exciting, but choosing the right entity structure can feel overwhelming. The decision you make can impact your tax obligations for years to come, so let's break down the tax pros and cons of each option to help you make an informed choice.Before...
What the “One Big Beautiful Bill Act” Means for Your Taxes
Signed into law on July 4, 2025, the One Big Beautiful Bill Act (OBBBA) ushers in a sweeping extension of many tax breaks first introduced by the 2017 Tax Cuts and Jobs Act (TCJA). Alongside those extensions, the bill introduces a host of new tax deductions, credits,...
Tax Savings Through Employer Benefit Choices: Small Decisions, Big Impact
When it comes to tax planning, most people think about deductions and credits during filing season. But some of the most powerful tax-saving opportunities happen long before you file—right in your employee benefits package.At Nichols & Company CPAs, we believe that...