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Tax & Business Insights
Practical tax, bookkeeping, payroll, and small business guidance from the SK Financial team.
Premium Tax Credit Changes: What Florida Health Insurance Buyers Need to Know
On October 14, 2026, the Treasury and IRS issued proposed regulations to implement reforms to the Premium Tax Credit. These rules aim to prevent fraud and abuse in the Health Insurance Exchanges.
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IRS Issues Automatic Adoption Tax Credit Carryforward Refunds
The IRS has begun issuing automatic refunds to over 50,000 taxpayers with unused adoption tax credit carryforwards. This change stems from a new Treasury Department interpretation of the Working Families Tax Cuts. Learn how this affects your 2025 tax return and what steps to take if you have not received your refund.
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IRS Mileage Rate Changes: Tracking 2026 Business Miles
A single annual rate may not apply if the IRS mileage rate changes mid-year. This guide explains why date-based tracking is essential for 2026 and how to maintain records that withstand scrutiny.
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Education Freedom Tax Credit: New Federal Credit for K-12 Scholarships
Treasury and the IRS issued proposed regulations for the new Education Freedom Tax Credit, effective January 1, 2027. This nonrefundable credit allows taxpayers to claim up to $1,700 for contributions to eligible Scholarship Granting Organizations. Here is what the rules mean for your tax planning.
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Child Tax Credit 2025-2026: Eligible Criteria and Expect Tax Refund
Learn the Child Tax Credit. families can get up to $2,000 per qualifying child. If your credit is larger than your tax bill, you may still get a refund of up to $1,700 per child.
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Earned Income Tax Credit 2025-2026: Who qualifies for EITC?
The Earned Income Tax Credit (EITC) is a refundable benefit for low- to middle-income workers. For 2025-2026, credit amounts vary by income, filing status, and dependents.
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Education Credits: A Comprehensive Guide For 2026
Education credits reduce your tax obligation dollar-for-dollar, they cut the amount of tax you must pay. AOTC is for undergraduate students, and the LLC is for graduates.
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Employee Retention Tax Credit: Latest Updates 2025
Employee Retention Credit (ERC) is a refundable payroll tax credit that was originally created to help employers keep workers on payroll during the COVID-19 period.
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What Is the IRS Form 8880? How to Fill Out Form 8880
Form 8880 allows you to claim the Saver’s Credit, a tax benefit designed to encourage low- to moderate-income taxpayers to contribute to retirement accounts.
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What is a Rebate? Home Energy Rebate Program in Florida, United States
Florida's Home Energy Rebate Programs, offer incentives ranging from $2,000 to $14,000 for energy-efficient home upgrades and reducing costs
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Lifetime Learning Credit (LLC): What it Is, How It Works
Lifetime Learning Credit lets you claim 20% of the first $10,000 you spend on qualified education expenses. That means you can receive up to $2,000 per tax return each year.
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Retirement Savings Contribution Credit: How it Works in 2025-2026
A retirement savings contribution credit is a special tax credit. if you contribute $2,000 to your retirement account and qualify for the 50% credit, you could reduce your tax bill by $1,000.
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