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Hi, . Here are your Articles for September 29, 2025.
New Law Reduces Tax Odds for Gamblers

The IRS often challenges gambling loss deductions. The One Big Beautiful Bill Act made a major change to the tax treatment of gambling losses. This provision could increase taxes for both amateur and professional gamblers. Here's a closer look at the rules for deducting gambling losses and what has changed.

Accountable Plans: Reimburse Employees the Tax-Smart Way

Recent tax law changes permanently ended deductions for unreimbursed employee expenses, making accountable plans more important. For businesses that choose to reimburse employees for qualified expenses, these plans keep the payments tax-free for employees and deductible for businesses while saving payroll taxes. Here's what you need to know.

Retirement Accounts and Your Estate Plan

When planning your estate to minimize taxes, there are some important factors to keep in mind about retirement accounts such as traditional IRAs, Roth IRAs, SEP accounts and 401(k) plans. The rules can be complicated. Find out the details by reading this article.

Can You Deduct Medical Expenses? Here Are the Rules

It can be difficult to deduct medical expenses on your tax return because of the requirements. First, you must itemize deductions, rather than take the standard deduction. Second, you must exceed the current percentage-of-AGI threshold. Finally, your expenses must qualify as "medical care" under tax law. Here's what you need to know about this tax break.

Swapping Life Insurance for Long-Term Care Insurance

Can you afford long-term care? One of the greatest threats to the financial security of a person's retirement and estate planning goals is a nursing home stay or other form of long-term care. Long-term care insurance (LTCI) may be a way to protect wealth against this risk, but it's expensive. One potential option for funding an LTCI policy is to "trade-in" a life insurance policy or annuity contract that's no longer needed.

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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

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