Trump Accounts officially launched on July 4, 2026. Families who already signed up should confirm that their account has been activated and is ready to receive contributions. Those who have not yet registered can still submit the required election, complete the activation process, and begin...
Many business owners dismiss C corporations almost immediately because they have heard about “double taxation.” That concern is real. It is part of the conversation. But it is rarely the only issue that matters, and it is not always the issue that matters most. The better question...
For many Americans, Social Security will become one of the largest and most dependable sources of retirement income they'll ever receive. Yet surprisingly few people understand just how many decisions surround those benefits-or how much those decisions can influence their long-term financial security. Most people know they...
Why the smartest capital decisions start with a tax planning conversation “Buy it before year-end so you can write it off.” That advice gets repeated so often in business circles that it starts to sound like strategy. In reality, it is only a fragment of the story. A...
A Health Savings Account, or HSA, is one of the most tax-efficient accounts in the Internal Revenue Code. Its basic purpose is simple: help people with high-deductible health plans save for current and future medical costs with favorable tax treatment. But the HSA is more...
For many business owners, succession planning is one of the most important decisions they will ever make, yet it is often delayed until the owner is nearing retirement, facing health problems, or reacting to a crisis. That is usually too late. A good succession plan...
If you inherited a Traditional IRA after 2019, the rules are not always what people expect. The SECURE Act changed the way many inherited retirement accounts must be paid out, and now who inherited the account and whether the original owner had already started required...
The Penny Is Disappearing—And It’s Not Just Trivia At first, it sounds like a fun fact. “The U.S. is phasing out the penny.” Interesting… but irrelevant, right? Not quite. Because this tiny shift—literally one cent—has a ripple effect on: How customers pay How businesses price How money flows through your business And if you...
If your federal tax refund is seriously overdue, it's normal to feel worried — especially if you were counting on that money for bills or other expenses. Before panic sets in, here's a clear, practical guide explaining what may be happening, why a new IRS...
Here is what the firm has been up to since our last newsletter. New Hires: We are pleased to welcome the following team members to Blackman & Sloop: Lee Worrix joined the team as a Senior Tax Associate. Maclain Coords joined the team as a Tax Associate. Chinedu Mazi joined...
