The Tax Professionals Blog
Strategic Guide to Rolling Over Unused 529 Plan Funds into a Roth IRA
Posted by Lee Reams Sr., BSME, EA on
Got leftover 529 funds? You can now roll up to $35,000 into a Roth IRA tax-free under SECURE 2.0. Learn the rules, limits, and strategies to make it work for you.
Highlights of Internal Revenue Bulletin 2025-24 – 6/9/2025
Posted by Lee Reams Sr., BSME, EA on
The IRS issued Rev. Proc. 2025-23 updating the list of automatic accounting method changes. Learn what this means for tax pros in the latest Internal Revenue Bulletin 2025-24.
Maximizing the American Opportunity Tax Credit through Prepaying College Tuition
Posted by Lee Reams Sr., BSME, EA on
Paying college tuition early? Learn how strategic prepayment can boost your American Opportunity Tax Credit and maximize your education tax savings this year.
Highlights of Internal Revenue Bulletin 2025-23 – 6/2/2025
Posted by Lee Reams Sr., BSME, EA on
IRS Bulletin 2025-23 includes July 2025 interest rates, corporate bond yield curves for April, and updated federal and tax-exempt rates for June 2025.
Unlocking the AOTC for Students
Posted by Lee Reams Sr., BSME, EA on
Students may qualify for the American Opportunity Tax Credit (AOTC) if parents opt out of claiming them. Learn how to maximize the credit and stay compliant.