Act Now Before the Deadline: Last Chance to Claim the Solar Tax Credit

If you’ve been considering installing solar panels or other renewable energy systems at your home, time is running out to take advantage of the full Residential Clean Energy Credit (RCEC). Under the current law, you can claim 30% of the cost for qualifying energy-efficient improvements placed in service by December 31, 2025. However, the One Big Beautiful Bill (H.R. 1) includes provisions that could eliminate the RCEC eligibility entirely starting in 2026, effectively making 2025 your last chance to receive the full 30% tax credit.

With the phaseout already scheduled to begin in 2033, the One Big Beautiful Bill could cut short your opportunity to claim this valuable credit much sooner. If you're planning to make an investment in renewable energy, now’s the time to act—don't wait until it’s too late.

The purpose of this article is to get the IRS to owe you money.

Of course, the IRS will not likely cut you a check for this money—although in the right circumstances, that will happen. But in most cases, you’ll probably realize the cash when you pay less in taxes.

This article gives you six powerful business tax deduction strategies you can easily understand and implement before the end of 2024.

Early withdrawals from an Individual Retirement Account (IRA) typically incur a 10 percent penalty, but did you know there are several exceptions to this rule? Understanding these exceptions can help you access your retirement funds when you need them most, without facing unnecessary penalties. In this blog post, we dive into 15 key exceptions that can save you money and provide financial flexibility. Whether it's for medical expenses, education costs, or other qualifying circumstances, knowing these rules can empower you to make informed decisions about your retirement savings.

Shoutout LA magazine's recent article on local entrepreneurs showcases the creativity, innovation, and diversity of businesses that make LA a thriving city. The article highlights my story and what separates Farzan Financial Solutions from other accounting firms

We're excited to share our latest newsletter with you, packed with informative year-end tax planning tips.

In this article, we will discuss the IRS's decision to halt ERC processing and provide some guidance for businesses that are still considering filing an ERC claim.

Depreciation starts when the property is placed "in service," which means it's ready and available for its designated use, as per the IRS.

Can you (a) defer a large gain via Section 1031 and (b) immediately create a large write-off on the new asset with a cost segregation study?

The Tax Cuts and Jobs Act of 2017 made significant changes to the tax treatment of business meals and entertainment expenses. These changes are still in effect for 2023 and beyond.

If you are a U.S. citizen living and working abroad, you need to think about taxes, both those in the United States and those in the country where you are living and working. This article will steer you in the right direction.

In my latest journal entry, I'm diving deep into "12 Answers to Questions on Proving Expenses for Business Travel," inspired by my recent trip to Europe.

Non-fungible tokens (NFTs) are a type of digital asset that can be bought and sold. Some people have made a lot of money from NFTs.

Many people have lost money.

Where there's money, there are taxes.

Here's what you need to know about taxes for NFTs.

You may have stumbled on an unusual continuing education (CE) opportunity that feels like a vacation.