When the time comes to file your taxes, you have two options for deductions: take the standard deduction or itemize your deductions. Both methods help lower your taxable income, but choosing the right one can impact how much you owe or get back in a refund. Here’s what you need to know to make the best choice for your situation.

Cryptocurrency has become a big part of both personal finance and business transactions, but many people don’t realize the tax implications. The IRS treats crypto like property, meaning that buying, selling, or using digital currencies comes with tax responsibilities—just like stocks or real estate. Whether you’re an investor or a business owner, understanding how these rules apply can help you stay compliant and avoid penalties.

In a significant update under the Corporate Transparency Act (CTA), the Financial Crimes Enforcement Network (FinCEN) published an interim final rule on March 26, 2025, that reshapes the definition of a “reporting company.”