The ABCs of 529 Plans and ABLE Accounts under the OBBBA
The One Big Beautiful Bill Act (OBBBA) makes tax-favored Section 529 plans much more flexible. Here’s what families should know.
KWC specializes in providing tax, audit, accounting, business consulting services and client advisory services (including outsourced accounting, virtual CFO services, internal control analysis, accounting systems analysis and design) for businesses, individuals, estates, trusts, non-profit organizations, and employee benefit plans. Our diverse client base served includes industries such as professional service firms, government contractors, non-profits, real estate, construction and specialty contractors, and healthcare providers. KWC is the CPA firm clients trust in Alexandria, Arlington, Fairfax, Tysons Corner, Springfield, Arlington, the Richmond Metropolitan Area, Northern Virginia, Washington, D.C. and Maryland.
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The ABCs of 529 Plans and ABLE Accounts under the OBBBA
Section 529 plans are most commonly used as a tax-favored way to save and pay for college expenses. You might be reluctant to open a 529 account for your child because you're not sure he or she will pursue a college degree. Or maybe you're too focused on paying...
In Our Charitable Deduction Era
We know all too well that tax law is constantly changing. The One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025. We want you to be ready for it. This article focuses on planning opportunities around the changes to charitable deductions. Itemized...
Favorable Business Depreciation Tax Changes Under New Law
There's good news for businesses considering buying equipment and other capital assets: The One Big Beautiful Bill Act (OBBBA) dramatically improves first-year depreciation tax breaks. Here's what you need to know to take advantage. 100% First-Year Bonus...