by idei | Oct 1, 2025 | Uncategorized
Understanding The New OBBB Act Tipped Occupations List If you work in an industry where tips are a regular part of your income, there’s big news for you. Under the new OBBB Act, a special tax deduction will be available for certain tipped occupations — but only if...
by idei | Sep 24, 2025 | Uncategorized
Essentials – 529 plan: Tax-deferred growth; tax-free withdrawals for qualified education; beneficiary can be changed within family; limited K-12 tuition allowed. – Credits: AOTC: Up to $2,500 per eligible student; income limits; partially refundable....
by idei | Sep 17, 2025 | Uncategorized
Key rules – Exclusion: Up to $250k (single) / $500k (MFJ) of gain – 2-of-5 test: Own and use as main home for 2 of the last 5 years – Frequency: Generally once every 2 years – Depreciation recapture: Prior rental/home-office depreciation is...
by idei | Sep 10, 2025 | Uncategorized
What attracts scrutiny? Cash-heavy businesses (restaurants, salons, contractors, convenience stores) show higher underreporting risk. Examiners reconcile POS → bank deposits → books → tax return and flag gaps. Typical red flags Large cash deposits without matching...
by idei | Sep 3, 2025 | Uncategorized
Comprar casa es una de las decisiones financieras más importantes y los bancos analizan mucho más que tu deseo de tener un hogar. En Wave Tax te guiamos paso a paso para que llegues listo a tu hipoteca. 1. W-2 o 1099: ¿qué piden los bancos? Empleados W-2:...
