Contractors ask me this every year:“George, how long do I actually need to keep tax records?” Here’s the real answer — no fluff 👇 The basics:• IRS standard audit window: 3 years• I
If you’ve ever missed an estimated tax payment, and your amounts owed were on the larger side, penalties can really add up fast. But there’s a workaround the IRS actually allows. I
🎲 Tax law is changing for gamblers—casual and professional alike. Starting in 2026, the OBBBA limits gambling loss deductions to 90% of losses. The other 10%? Gone forever. Casual
⚠️ High earners: the AMT is coming back stronger. The Tax Cuts and Jobs Act gave most taxpayers relief from the Alternative Minimum Tax (AMT). But starting in 2026, the OBBBA makes
Under current law, C corporations can deduct charitable contributions up to 10% of taxable income. But starting in 2026, a 1% floor will change how much is deductible.