Morley Consulting, LLC

10/24/2025

You may give up to $19,000 to any individual (donee) in 2025 and avoid any gift tax filing requirements. If married, you and your spouse may transfer up to $38,000 per donee.

Wish to transfer some of your assets to your children or grandchildren tax-free? Understanding the annual gift limits is a good place to start.

10/17/2025

New tax deduction limit could present a planning opportunity.

With recent law changes, itemizing your deductions may now make sense once again.

10/10/2025

Fair market value is often one of the IRS's go-to items when auditing you. Here is what you need to know.

Determining the value of items on your tax return is always open to interpretation. You do not want that to happen to you during an audit, as it can lead to additional taxes and penalties. Here are some tips to help defend your Fair Market Value (FMV) determinations.

10/03/2025

Get tip income or know someone who does? Read this NOW!

Now is the time to review the preliminary list of approved tax-free tip occupations. If your job is not included, you must register your suggestion in the next few weeks.

10/01/2025

Tax laws can change - fast. What saved you money last year might cost you now. This month's issue breaks down smart tax moves to help you stay ahead and keep more of your income.

Tax rules aren’t set in stone...what worked last year might not work this year. If you're not keeping your tax strategy up-to-date, you could be inviting a bigger bill from the IRS. In this month’s issue, we’re breaking down practical tax tips to help you stay ahead and keep more o...

09/26/2025

When in doubt, ask for tax help. Here is when you should do this.

All too often taxpayers take action that will cost them dearly when they file their tax return. With a little planning, however, the IRS can still receive its fair share but not a dollar more. Here's what you need to know.

09/19/2025

Sometimes there is interest income even when you don't think there is.

The IRS often sees the transfer of funds as a loan, whether there is a loan agreement or not. This also means there is an implied term and interest payment. When the IRS says a transaction is a loan, what interest rate do they use? Enter AFRs. Here is what you need to know.

09/12/2025

Here's how to make sense out of the America Opportunity Credit vs the Lifetime Learning Credit and the Student loan interest deduction.

The cost of a higher education is going through the roof. To make matters more complicated the tax code has numerous provisions to help offset educational expenses. But there are so many...here are some ideas to help you get the biggest tax break.

09/09/2025

Effective Tax Rate: How much you REALLY pay.

09/09/2025

Deduction or Credit. Take the confusion out.

09/05/2025

Reminder: 3Q estimated taxes are due Monday, September 15. Here are some things to consider.

If you have not already done so, please plan to make your third quarter estimated tax payment. The due date is Monday, September 15th.