The Hidden Home Equity Tax: A Growing Concern for Texas Homeowners

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15thAugust 2025
Finance

The Hidden Home Equity Tax: A Growing Concern for Texas Homeowners

Posted By: sginccpa

Hidden Home Equity Tax Explained The “Hidden Home Equity Tax” is just a catchy name for federal capital gains taxes that surprise a lot of unwary sellers. It especially snags homeowners who’ve reached a life stage where they have a lot of home equity built up. Even though home prices have been very high, the capital gains… Continue reading The Hidden Home Equity Tax: A Growing Concern for Texas Homeowners

14thAugust 2025
Uncategorized

Texas Supreme Court to Decide the Taxability of VELO Nicotine Pouches

Posted By: sginccpa

Litigation Over Nicotine Isolate Products VELO, a brand of R.J. Reynolds, markets pouches and lozenges containing nicotine isolate. As the name suggests, nicotine isolate is nicotine chemically extracted from the tobacco plant; it contains no tobacco leaf material. In 2019, Texas Comptroller Glenn Hegar determined that these products were subject to the state’s Cigars and… Continue reading Texas Supreme Court to Decide the Taxability of VELO Nicotine Pouches

8thAugust 2025
Uncategorized

SALT Deduction Cap Increased to $40,000 for 5 Years: What You Need to Know

Posted By: sginccpa

Between 2018 and 2025, the Tax Cuts and Jobs Act (TCJA) capped the deduction for state and local taxes (SALT) at $10,000. This was a particularly large burden on homeowners in states with high taxes, including New York, California, and New Jersey. Legislative Change: One Big Beautiful Bill Act (OBBBA) Congress passed the One Big… Continue reading SALT Deduction Cap Increased to $40,000 for 5 Years: What You Need to Know

8thAugust 2025
News

CBO Warns Trump Tax Bill Will Add $3.4 Trillion to Deficit and Leave 10 Million Uninsured by 2034

Posted By: sginccpa

The “One Big Beautiful Bill” Act —a trillion-dollar, Trump-era tax-and-spending package that both extends tax cuts, creates new worker deductions, and makes sweeping cuts to health care and social safety net programs—passed both chambers of Congress in July 2025 and was promptly signed into law by the President. Just weeks later, the Congressional Budget Office… Continue reading CBO Warns Trump Tax Bill Will Add $3.4 Trillion to Deficit and Leave 10 Million Uninsured by 2034

One Big Beautiful Bill Act
4thAugust 2025
Taxation

One Big Beautiful Bill Act (OBBBA): Major Tax Changes for Individuals and Business Owners in 2025

Posted By: sginccpa

The One Big Beautiful Bill Act (OBBBA) contains some of the most comprehensive federal tax reforms in recent years. The working families’ tax relief Act, as the name suggests, is intended to simplify the tax code and offer tax relief for both individuals and businesses. Taxpayers of all kinds will be affected by these new… Continue reading One Big Beautiful Bill Act (OBBBA): Major Tax Changes for Individuals and Business Owners in 2025

top 7 tax deductions most doctors miss
24thJuly 2025
Taxation

Top 7 Tax Deductions Most Doctors Miss — And How to Claim Them Legally

Posted By: sginccpa

Doctors have a tendency to get so caught up in their patient’s lives that they forget about the big tax deductions they can take advantage of. Many doctors are needlessly overpaying taxes by thousands of dollars per year simply by not being aware of the tax write-offs available to them. The good news is that… Continue reading Top 7 Tax Deductions Most Doctors Miss — And How to Claim Them Legally

Top 5 Reasons Doctors & Business Owners Hire a Tax Strategist
1stJuly 2025
Tax Audit

Top 4 Reasons Doctors & Business Owners Hire a Tax Strategist

Posted By: sginccpa

Managing your business requires constant effort and attention to detail because of the challenges involved in operations management and marketing brand initiatives as well as customer service. People often overlook tax credits when they have multiple tasks to deal with. New changes in the Internal Revenue Code every year produce unique tax returns that require… Continue reading Top 4 Reasons Doctors & Business Owners Hire a Tax Strategist

SG Inc CPA
27thJune 2025
Tax Audit

How to Claim a Tax Deduction for Medical Expenses in 2025

Posted By: sginccpa

Struggling with medical bills? Are you looking for ways to save money during tax season? Filing your 2025 personal income tax return provides important relief options to help you save money. It’s time to consider obtaining a return on your medical bills through your 2025 tax return. This blog teaches you how to claim medical… Continue reading How to Claim a Tax Deduction for Medical Expenses in 2025

SG Inc CPA
19thJune 2025
Taxation

How to Get Your IRS Refund Faster In 2025 — Tips from SG Inc CPA

Posted By: sginccpa

Most taxpayers share the common goal of receiving their IRS tax refund as soon as possible. A quick arrival of your tax refund benefits you when you need it for savings, reducing debt, or making large purchases. A minor error or skipped procedure might push back your refund for several weeks. SGINC CPA allows clients… Continue reading How to Get Your IRS Refund Faster In 2025 — Tips from SG Inc CPA