Don’t Panic! What to Do When You Receive a Letter from the IRS or State Agencies If you’ve ever opened your mailbox to find a letter from the IRS or a state tax agency, your first reaction may have been anxiety. But here’s the truth: not all tax notices are bad news. In fact, many are simply informational—confirming a change, requesting verification, or reminding you of a deadline. The key is knowing how to read the notice, what steps to take, and when to get professional help. Below is a...
10 days ago • 2 min read
Can You Grow Your Business Blindfolded? A Tax Pro's Wake-Up Call Imagine trying to drive a car with a foggy windshield. You might get where you're going, but it's risky, slow, and you're bound to miss important signs along the way. Your business financials are your clear view of the road ahead. At RSK Tax and Consulting LLC, we've seen firsthand how messy books can lead to missed opportunities, wasted time, and unnecessary stress. Here are the most common questions we get and our...
17 days ago • 2 min read
Financing Q&A: Strategies for Investors and Business Owners Interest rates remain elevated, and traditional bank financing is tighter than ever. But savvy investors and entrepreneurs are adapting — finding funding through creative, lender-friendly strategies. In this edition, we answer your top financing questions and share practical tips you can use right now. Q1: Banks keep rejecting me. What are my best options right now? DSCR Loans – Approval based on rental income, not personal income....
24 days ago • 1 min read
TAX-SAVING Q&A: Smart Moves Before Year-End Time is running out to cut your 2025 tax bill. Below, we answer your top tax questions and share a real case study that resulted in $68,000 in savings using proven real estate strategies. Q1: What are the most overlooked tax deductions for small business owners? You may be missing out on thousands in deductions. Here are a few commonly overlooked opportunities:Home office deduction – Use the simplified method ($5 per square foot) or deduct a portion...
about 1 month ago • 1 min read
Major Business Income Tax Changes Under the One Big Beautiful Bill Act (OBBBA) Major Business Income Tax Changes Under the One Big Beautiful Bill Act (OBBBA) Congress has enacted the One Big Beautiful Bill Act (OBBBA), bringing significant changes to business income taxation. This newsletter highlights the most important provisions affecting businesses, with practical explanations and examples to help you plan for 2025 and beyond. 1. Permanent 100% Bonus Depreciation (Full Expensing) What...
about 1 month ago • 4 min read
Major 2025 Tax Changes Under the One Big Beautiful Bill Act (OBBBA) Congress has passed the One Big Beautiful Bill Act (OBBBA)—a sweeping tax reform that brings permanent and impactful changes to the individual income tax system starting in 2025. Whether you’re employed, retired, self-employed, or raising a family, these updates may significantly affect your tax return. Below is a clear breakdown of the key changes and practical examples to help you understand how they may apply to your...
about 1 month ago • 3 min read
BREAKING NEWS: New Tax Deductions for Tips & Overtime! Washington, D.C. – In a significant development set to impact millions of workers, the "One Big Beautiful Bill Act" (Public Law 119-21) was signed into law on July 4, 2025. This comprehensive legislation introduces new federal income tax deductions for qualified tips and qualified overtime compensation, effective retroactively to January 1, 2025, and extending through December 31, 2028. This landmark move aims to boost the take-home pay...
about 2 months ago • 3 min read
Mid-Year Tax Checkup: 5 Moves to Save Money Before Q3 Deadlines! With Q2 officially behind us and the second half of 2025 stretching ahead, now's the perfect time to give your business's financial health a thorough checkup. This isn't just about avoiding surprises; it's about proactively finding opportunities to save money on your taxes before the September 15th Q3 estimated tax deadline rolls around. Let's dive into 5 key moves you can make now to optimize your tax position. 1. Review Your...
2 months ago • 2 min read
Mid-Year Tax Check-Up: Smart Ways Families Can Stay Ahead and Save More As we reach the mid-point of the year, it’s the ideal time for families to reassess their finances and conduct a mid-year tax check-up. With tax season still months away, early planning can uncover potential savings, prevent surprises, and streamline the filing process. Recent updates to tax laws and income brackets have changed how families approach deductions, exemptions, and reporting. While traditional allowances may...
2 months ago • 2 min read