Category: News

Impact of 2025 Taxes on Your Finances

Meta Description: Discover key 2025 tax law changes, including higher standard deductions, new retirement contribution limits, and tax credits for employees. Learn how these updates impact you and how Hinson Accounting can help you save more on taxes. Introduction Understanding the latest 2025 tax law changes is essential for maximizing your tax savings and financial […]

Choosing Your Business Structure

As a small business owner, selecting the right business structure is a critical decision that can have significant implications for your company’s future. Two popular choices are the Corporation (C Corporation) and the S Corporation. Each offers unique benefits that can align with your business goals, tax situation, and growth plans. Here’s a comprehensive look […]

“Unlocking Tax Benefits for Tomorrow: The Saver’s Credit for Low- and Moderate-Income Taxpayers”

In the pursuit of a financially secure future, the Internal Revenue Service (IRS) has a valuable reminder for low- and moderate-income taxpayers — the opportunity to save for retirement now and potentially earn a special tax credit in 2024 and beyond. The Retirement Savings Contributions Credit, commonly known as the Saver’s Credit, presents an enticing prospect for those looking to build their retirement nest egg while enjoying immediate tax benefits.

Maximizing Impact: A Guide to Qualified Charitable Distributions (QCDs) for IRA Owners

QCDs are a financial strategy that allows IRA owners aged 70½ or older to transfer funds directly to a qualified charity. The advantage? The transferred amount, up to $100,000, is excluded from the IRA owner’s taxable income for the year. This tax-free benefit makes QCDs an attractive option for those looking to give back while optimizing their financial planning.

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