Clients have been asking for clarification on what compensation is actually covered by the ‘No Tax on Overtime’ break, and who is actually eligible. We thought it wise to address some of the Frequently Asked Questions. This article will explain how the federal overtime deduction works, which earnings qualify and how much of the promised...
Strategic growth and operational excellence must walk hand in hand and be intentional to achieve success. Thank you Southern Yacht and Boating Magazine for the spotlight in September's issue. Lou Fuoco and his team at TFG can help you build a legacy, no matter what your industry is, whether you and your business are evolving,...
This year's annual Bloomberg “Projected U.S. Tax Rates Report” provides an early look at potential 2027 tax savings for clients interested in doing some aggressive tax planning this season. Autumn is the best time to look at what actions you need to take to save money on your tax bill due in the Spring! Tax...
Are you considering changing your LLC or C-corporation from the entity's default tax treatment to an S-corporation election? Now is a great time to get educated about the pitfalls to avoid when making that transition. Our TFG tax professionals would like to point out the most common mistakes entrepreneurs make when switching to S-corp tax...
Requirements to claim a deduction for interest paid on auto loans are many! OBBBA benefits include new tax deductions for tip income, overtime pay, and interest paid on auto loans, as well as an additional standard deduction for senior citizens and an increased maximum deduction for state and local taxes. There is a great deal...
