Ivory Financial Services

12/20/2025

In a letter to Treasury and the IRS, the AICPA seeks changes to tax reporting requirements for partnerships and S corporations.

10/22/2025

As an advocate of financial literacy, IFS approves this message!

There are four main areas of money that children need to learn:

1. Work. Money comes from work, not from other people, the government, or dumb luck. From an early age, your kids need to feel that emotional connection between work and money. That's why my wife and I paid our kids commissions, not allowances. You work, you get paid. You don't work, you don't get paid. It's true for parents, and it should be true for kids.

2. Save. Teach your kids early on how to save up for purchases. If they learn how (and why) to save up for a toy today, they'll know how (and why) to save up for a car or house tomorrow with no debt.

3. Spend. Let your kids have some fun with their money and experience the awesome feeling of buying something they want with money they saved. If you keep it all in the piggy bank and never let them enjoy it, they'll either grow up into miserable old misers or they'll rebel and become crazy, debt-ridden spenders once they hit college.

4. Give. Giving is the most fun you can have with your money. Nothing beats making a waitress's day with a $100 tip out of the blue. Just make sure your kids give their own money. If you hand Junior a dollar to drop in the offering plate on Sunday morning, he's just a courier for your money. He needs to know what it feels like to really give out of his own pocket.

Learning these four areas (especially giving) brings your kids a depth of confidence and character they'll never have otherwise.

10/22/2025

The agency said it is providing the relief because both lenders and the IRS need more time to comply with the new car loan interest reporting requirements added by H.R. 1.

07/13/2025

👶🏾 Post 7: Kids, Schools & “Trump Accounts”

Caption:
🧒🏾💳 WHAT’S NEW FOR KIDS & EDUCATION

👶 $1,000 deposit into new “Trump Accounts” for babies (2025–2028)
🏫 School vouchers & expanded school choice
💵 Child tax credit raised to $2,200 & indexed to inflation

Support for families has grown — but only for some.

07/12/2025

🌍 Post 6: Environment & Energy Rollbacks

Caption:
🛢️ CLEAN ENERGY OUT, FOSSIL FUELS IN

🌱 Repeals clean energy tax credits
❌ Ends methane emissions tax
⛽ Promotes oil and gas production
📉 Climate incentives scrapped

This bill reverses much of the Biden-era environmental policy. What does that mean for green jobs and the planet? 🌍

07/12/2025

🇺🇸 Post 5: Defense & Border Enforcement

Caption:
🪖 BIG SPENDING: DEFENSE & BORDER

💸 $150B+ increase in defense funding
🛡️ Nuclear weapons, drones, and Indo-Pacific strategy
🚔 $170B to border security & ICE
📈 ICE budget to grow 10x by 2029

Immigration and national security are front and center — but what’s the cost to civil programs?

07/10/2025

🩺 Post 4: Medicaid, SNAP & Student Loans

Caption:
🚨 PROGRAM CUTS AHEAD

❌ Medicaid spending slashed by 12–18%
❌ Work requirements added
❌ SNAP (food stamps) scaled back
❌ Student loans face tighter caps & fewer repayment options

Millions could lose access to coverage or aid. Be prepared for stricter rules and reduced support.

07/09/2025

One Big Beautiful Bill Act and Social Security summary of the key points:
• Who qualifies: Taxpayers age 65 and older, regardless of whether they receive Social Security benefits.
• Amount: An extra deduction of up to $6,000.
• Not eligible: Those under 65, even if receiving Social Security retirement or SSDI.
• Not benefits-based: The deduction is age-based, not dependent on receiving Social Security.
• Tax treatment:
• It’s a deduction, not an exclusion, so Social Security income must still be reported.
• It’s not refundable—it can reduce taxable income but won’t result in a refund if income is too low.
• Availability: Applies to both itemizers and non-itemizers.
• Requirement: Must have a Social Security number.
• Phaseouts:
• Begins at $150,000 for joint filers ($75,000 for others).
• Fully phased out at $350,000 (joint) or $175,000 (others).
• Temporary: Set to expire in 2028.
• Impact: Increases the percentage of Social Security beneficiaries not taxed on benefits from 64% to 88%.
Questions??? Email us at [email protected]

07/08/2025

💰 Post 2: Taxes – What’s Staying and What’s New

Caption:
🧾 TAXES – WHAT YOU NEED TO KNOW

✅ 2017 tax cuts are now permanent
✅ New $6,000 deduction for seniors 65+ (until 2028)
✅ Deduction for tips and overtime (if you earn

07/08/2025

One Big Beautiful Bill Act was signed into law July 4, 2025. What is it?

This sweeping $3–3.4 trillion budget reconciliation package combines permanent tax reforms with deep spending cuts, reshaping policy across taxes, healthcare, energy, education, defense, border enforcement, and more. It extends many Trump-era tax cuts, introduces new deductions, tightens welfare, and significantly funds defense and immigration enforcement—all while ballooning the federal deficit and drawing criticism for its impacts on low-income and vulnerable groups.

07/08/2025

✨ Introducing the “One Big Beautiful Bill Act” Series! ✨
At Ivory Financial Services, we believe understanding your money empowers your future. Over the next few posts, we’ll break down some of the One Big Beautiful Bill Act—what it says, who it benefits, and how it can impact your finances.

Clear. Simple. Actionable. Stay tuned and follow along as we make it all make sense. 💼💡

05/14/2025

This , find out which business tax credits are available for your : https://ow.ly/EgGK50Vp9ut