IRS Audit Red Flags for Self-Employed Individuals in 2025
Being self-employed comes with many freedoms—flexibility, independence, and full control over your income. But with those perks also comes increased scrutiny from the IRS. In 2025, as the IRS ramps up enforcement efforts and deploys AI tools to identify discrepancies in tax returns, self-employed individuals must be more diligent than ever. At Hughes, Snell & […]
Education Tax Credits vs. Deductions: Which Will Save You More?
As families across the country prepare for fall enrollment, one major question looms: how can you get the most out of your education-related tax breaks? For parents and students navigating college expenses, understanding the difference between education tax credits and education tax deductions could mean hundreds—or even thousands—of dollars in savings. At Hughes, Snell & […]
Relief for Employers – New Opportunities for Tax Credits on Wages
The Consolidated Appropriations Act, 2021 extends and expands the employee retention credit first created under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The employee retention credit is designed to encourage businesses to keep workers on their payroll and support small businesses and nonprofits through the Coronavirus economic emergency. Eligible employers may claim the […]