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Trust Taxation Basics: Understanding Distributable Net Income (DNI) – Part 2
In Part 1 of the Trust Taxation series, we introduced how trust distributions can shift the income tax burden from the trust to the beneficiary. The shift in tax from the trust to the beneficiary is not unlimited but instead calculated by a key concept of trust...
QuickBooks Payroll Tax Settings Update
QuickBooks is changing their automated payroll tax settings. What exactly is QuickBooks changing? Starting July 1, 2026, QuickBooks Online Payroll will pay and file all payroll taxes that are already set up automatically. No longer will you be able to manually submit...
“No Tax on Tips” – Final IRS Regulations and What They Mean for You
Overview The Internal Revenue Service (IRS) has finalized regulations implementing the “No Tax on Tips” provision enacted under the One Big Beautiful Bill Act (OBBBA). These rules clarify how eligible taxpayers may claim a federal income tax deduction for certain tip...
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