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Wondering what to do if you owe back taxes? Learn how the new IRS online tool works and how SME CPAs can guide you toward an informed financial decision.
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Wondering how to claim a home office on your taxes? Learn how with our guide to eligibility, calculation, and smart tax strategies.
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The 2026 SALT cap increased to $40,000, but high earners face a hidden trap. Learn why the Georgia PTET election could still be your best tax strategy.
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Quick Summary Crossing State Lines: Buying supplies in one state and using them in another triggers a use tax. The Register Is Not the End: Paying sales tax at the checkout counter rarely settles your tax bill. You owe taxes based on the state where the materials are actually installed. The Audit Trap: If South…
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Quick Summary 14 Days or Less: You can rent your house for up to 14 days to earn 100% tax-free income. No Expense Deductions: Since the rental income is tax-free, you cannot write off prep expenses like cleaning or landscaping. The 15-Day Rule: If you rent your house for 15 days or more, every dollar…
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Key Takeaways: Medical Equipment Tax Strategy 2026 100% Bonus is Back: OBBBA (July 2025) permanently reinstated 100% Bonus Depreciation for assets purchased after Jan 19, 2025. The “Georgia Gap”: Georgia generally rejects Federal Bonus Depreciation (requiring a tax “add-back”) but accepts Section 179. For many local practices, Section 179 may be the superior tool to…
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At a Glance: Trump Account Quick Facts Launch Date: July 5, 2026 The Benefit: A one-time $1,000 government deposit plus tax-advantaged growth. Who is Eligible: U.S. Citizens born between Jan 1, 2025 – Dec 31, 2028. The Key Form: Form 4547 (We recommend filing this separately from your tax return.) Your Action Item: File your…
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Does thinking about your personal finances for 2026 feel like a chore? Let’s change that. Instead of viewing a budget as a restriction, think of it as a tool that grants you permission to spend confidently on what matters to you. Start your year on solid ground by committing to make this the year you…
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The buzz around the “One Big Beautiful Bill Act” (OBBBA) has been hard to miss. Headlines promising “No Tax on Tips” and “No Tax on Overtime” sound fantastic for workers and complicated for employers. While the concepts seem simple on the surface, the fine print is anything but. At SME CPAs, we know that tax…
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Year-end is crunch time for businesses looking to maximize their 2025 tax savings. The recently passed One Big Beautiful Bill Act (OBBBA) introduced several meaningful tax changes that may be able to help lower your tax bill, but they require action before the calendar flips to 2026. Think of this as your final call to…
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