Hutto, Preston & Associates, LLC

01/12/2026

In proposed regulations for the car loan interest deduction, the IRS addresses issues for taxpayers and lenders, including eligibility criteria for the deduction and information-reporting requirements.

01/12/2026

The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 72.5 cents per mile driven, up 2.5 cents from 2025.

12/23/2025

Among other changes, the guidance explains that bronze and catastrophic plans are considered HSA-compatible under Sec. 223.

12/23/2025

12/07/2025

Welcoming a new member of your family will come with new benefits under the Working Families Tax Cuts. The and Treasury have issued guidance that overviews how Trump Accounts work and answers questions on creating the account, the $1,000 pilot program contribution and more. Taking advantage of this individual retirement account (IRA) for your child starts them off with a leg up. These funds cannot be withdrawn from the accounts until January 1 of the year the child turns 18. After that point, the account is treated like a traditional IRA.

Learn more about Trump Accounts at https://ow.ly/nYLo50XBrVx.

12/07/2025

The IRS released initial details on Trump accounts, a new type of IRA for some children. Also, a billionaire business executive pledged $6.25 billion to provide 25 million children with a $250 contribution to a Trump account.

11/27/2025

The IRS also is updating some income tax forms and instructions to help taxpayers claim the deductions.

11/11/2025

New rules could shrink an individual’s tax benefit from charitable contributions starting next year, prompting many to accelerate donations into this year. Here's what donors and advisers need to know.

11/11/2025

An IRS notice says employers won’t face penalties if they don’t provide a separate accounting of cash tips and overtime compensation for tax year 2025 under H.R. 1.

10/27/2025

Individual taxable earnings of up to $184,500 annually will be subject to Social Security tax in 2026, the Social Security Administration said. The SSA also announced a cost-of-living adjustment of 2.8% for both Social Security and Supplemental Security Income benefits for next year.

10/20/2025

Autumn in Charleston, South Carolina

📸 https://www.instagram.com/thepinkfiggy

10/11/2025

A rare example of cast iron in Charleston. The John Rutledge House.