Wright Ford Young & Co.

10/16/2026

Estate planning isn't just about federal taxes. Depending on where you live, state-level estate or inheritance taxes could significantly impact the wealth you leave behind. Currently, 12 states and Washington, D.C. impose an estate tax, while five states levy an inheritance tax, with Maryland being the only state that has both.

Understanding your state's rules is an important part of preserving your legacy and minimizing surprises for your heirs.

Explore 2026 state estate tax rates and state inheritance tax rates. Compare estate tax rates by state and inheritance tax rates by state.

10/15/2026

A big thank you to everyone who joined us at the CSU Fullerton Accounting Society events last month! We especially enjoyed connecting with students during the Speaker Meeting, where we had the opportunity to share insights, answer questions, and discuss careers in public accounting. We appreciate the engagement and look forward to seeing many of you again soon!

10/15/2026

The Savings for Tomorrow’s Opportunities, Raising Kids (STORK) Act, would allow families to contribute an additional $2,000 to a Health Savings Account (HSA) in the year of a child’s birth or adoption. The bill, introduced by Representative Matt Van Epps (R-TN), aims to help parents cover the cost of maternity care, delivery, and newborn medical expenses.

https://tax.thomsonreuters.com/news/bill-would-allow-larger-hsa-contributions-for-new-parents/

The Savings for Tomorrow's Opportunities, Raising Kids (STORK) Act, would allow families to contribute an additional $2,000 to a Health Savings Account (HSA) in the year of a child's birth or adoption.

10/14/2026

Individual taxable earnings of up to $192,300 annually will be subject to Social Security tax in 2027, the Social Security Administration (SSA) announced Wednesday.

The Social Security Administration announced a 3.6% cost-of-living adjustment for 2027 and increased the Social Security wage base to $192,300. The annual update also includes changes to retirement earnings limits and other indexed Social Security amounts that affect taxpayers and employers.

10/13/2026

Residency status, income sourcing, and state nexus should all be evaluated before year-end to avoid unexpected liabilities.

Are you prepared for potential state tax surprises, or is it time for a year-end review?

Note: Everyone’s financial situation is different. Contact a WFY advisor to discuss your financial plan.

10/13/2026

Taxes have grown more complex amid changes from President Donald Trump’s “big beautiful bill” and other updates, which top-ranked advisors say could affect year-end tax planning.

Often, planning happens throughout the year, and most strategies must be completed by Dec. 31 to affect tax refunds or balances due for the ensuing tax filing season. As year-end approaches, there are some key tax moves to consider.

Top-ranked advisors from CNBC's Financial Advisor 100 list for 2026 share tax planning strategies for 2026.

10/12/2026

The AICPA is advocating for states to request disaster tax relief from Treasury after Hurricane Isaias made landfall in Florida on Friday and led to flooding and property damage in numerous states days before the Oct. 15 filing deadline.

The AICPA is reminding states about the correct procedure to use to request disaster tax relief following Hurricane Isaias' landfall just days before the Oct. 15 filing deadline.

10/09/2026

There are multiple tax relief programs available through the IRS that could reduce your tax burden, including credits, deductions, payment plans and negotiated settlements.

Here's what you need to know about qualifying for and receiving tax relief, including some of the most common credits and deductions.

https://www.usatoday.com/story/money/money-management/credit-debt/tax-relief-eligibility/88416122007/

The IRS offers tax credits, deductions, payment plans and relief programs that could reduce your tax burden. Learn who qualifies and how to check.

10/08/2026

Those who've been paying off their student loans for two decades or more are now approaching the finish line, when the government will reward their hundreds of on-time loan payments by canceling their remaining balances. It's no small milestone. The average borrower will get nearly $50,000 in debt erased overnight.

But the euphoria of long-awaited debt relief will be interrupted by a knock on the door from the taxman. The IRS treats canceled balances as income, which means a hefty tax bill for many.

https://money.usnews.com/loans/student-loans/articles/your-student-loan-tax-bomb-could-be-12-000-report-finds

The report's author predicts "financial disaster" for the millions of borrowers who will be affected in the coming decade.

10/08/2026

It’s been more than a year since Republicans enacted President Donald Trump’s “big beautiful bill,” and many filers can still benefit from a temporary change to the federal deduction limit for state and local taxes, known as SALT.

For those affected, here are some strategies to consider for 2026.

The SALT deduction limit is $40,400 for 2026. Experts cover how to maximize the tax break before year-end.