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August 5, 2025

Act soon: The OBBBA ends clean energy tax breaks

AGI (Adjustable Gross Income), Clean Vehicle Credit, New Clean Vehicle Credit, One, Big, Beautiful Bill Act, Residential Clean-Energy Credit /

The newly enacted One, Big, Beautiful Bill Act (OBBBA) represents a major move by President Trump and congressional Republicans to roll back a number of clean energy tax incentives originally introduced or expanded under the Inflation Reduction Act (IRA). Below is a summary of the key individual tax credits that will soon be scaled back […]

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The new law includes a game-changer for business payment reporting

Federal Taxes, Form 1099-K, Form 1099-Misc, Form 1099-NEC, Independent Contractors, One, Big, Beautiful Bill Act, Small Business, Small Business Owners, Taxes 2025 /

The One, Big Beautiful Bill Act (OBBBA) contains a major overhaul to an outdated IRS requirement. Beginning with payments made in 2026, the new law raises the threshold for information reporting on certain business payments from $600 to $2,000. Beginning in 2027, the threshold amount will be adjusted for inflation. The current requirement: $600 threshold

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