https://midwesttaxgroup.com/ Take a look at our recent blog posts and client newsletter articles. en-us Sun, 01 Nov 2026 09:00:00 +0000 Sun, 01 Nov 2026 09:00:00 +0000 https://www.midwesttaxgroup.com/newsletter.php#1 Higher education can be hard on your wallet. Fortunately, federal tax breaks may ease the burden. As year end approaches, carefully timing qualified expenses and coordinating education tax credits, scholarships and Section 529 plan withdrawals may help your family maximize these tax-saving opportunities. Sun, 01 Nov 2026 09:00:00 +0000 https://www.midwesttaxgroup.com/newsletter.php#1 https://www.midwesttaxgroup.com/newsletter.php#3 If your business has inventory that's unlikely to sell, donating the goods to charity before year end could help you clear space, support a charitable cause and potentially generate a tax deduction. But inventory contributions are subject to special rules, so consider the tax consequences before donating. Sun, 01 Nov 2026 09:00:00 +0000 https://www.midwesttaxgroup.com/newsletter.php#3 https://www.midwesttaxgroup.com/newsletter.php#2 If your business is anticipating a loss in 2026, you may expect to use that loss to offset income from other sources on your individual tax return. But if you operate as a sole proprietor or a pass-through entity, the excess business loss limitation could prevent you from deducting the full amount currently. The limit has been reduced for 2026, making year-end tax planning especially important this year. Sun, 01 Nov 2026 09:00:00 +0000 https://www.midwesttaxgroup.com/newsletter.php#2