Group de Soto, Santos Soto, CPA

05/02/2025

HSA inflation-adjusted maximum contribution amounts for 2026 announced

Rev. Proc. 2025-19 also includes the revised maximum amount that may be made newly available for excepted-benefit health reimbursement arrangements.

12/20/2024

Business mileage rate 2025

The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 70 cents per mile driven, up 3 cents from 2024.

11/19/2024

2024 capital gains rate

For the 2025 tax year, the IRS has increased the capital gains tax income thresholds. Here's what you need to know.

11/18/2024

Social security taxes

You might, depending on your income, but smart financial planning now can help lower or even eliminate your taxes in the future.

11/12/2024

S CORP REASONABLE COMPENSATION

Advising owner-shareholders can prove invaluable in meeting guidelines for distinguishing compensation from distributions.

10/24/2024

Giving up your US citizenship or resident for 8 of last 15 years leaving? There is an exit tax:

Potentially costly and far-reaching tax liabilities of covered expatriates should give individuals pause before renouncing U.S. citizenship or permanent resident status.

10/23/2024

Annual inflation adjustments 2025

Annual inflation adjustments announced for tax year 20

10/11/2024

Social Security wage base announced for 2025

The Social Security Administration announced an increased maximum amount of wages subject to Social Security tax in 2025. The cost-of-living adjustment for Social Security benefits for 2024 is slightly lower than last year’s COLA.

10/09/2024

401K changes for 2025

Changes coming to IRAs — Roth and traditional — and 401(k)s may mean more money for you in retirement.

10/04/2024

IRS announces tax deadline relief for Hurricane Helene, to May 1st includes various Florida counties

FL-2024-08, Oct. 1, 2024 — The IRS announced today tax relief for individuals and businesses in parts of Florida that were affected by Hurricane Helene that began on Sept. 23, 2024. These taxpayers now have until May 1, 2025, to file various federal individual and business tax returns and make tax...

08/19/2024

Did you sell a home in last five years? Are you owed a RE commission refund? Find out:

Realestatecommissionlitigation.com

08/13/2024

BOI REPORTING VIDEO:

The bipartisan Corporate Transparency Act, enacted to curb illicit finance, now requires many companies doing business in the United States to report informa...