News & Insights
Miscellaneous Provisions under the OBBBA
New limits on wagering loss deductions and the permanent removal of moving expense deductions under the OBBBA are reshaping key areas of tax planning. These
How the OBBBA Changes Charitable Contributions and Scholarship Tax Benefits
Charitable contribution and scholarship tax rules are evolving under the OBBBA. The latest updates establish permanent deduction limits, universal deductions, and new federal credits that
529 Plan Changes in 2025: Expanded Qualified Expenses Under the OBBBA
The One Big Beautiful Bill Act (OBBBA) significantly broadens how families can use 529 education savings plans—covering K–12, homeschooling, and career training expenses. These updates
Back to School: Changes to Education Tax Credits You Should Know Heading into the New School Year
Updates to the American Opportunity and Lifetime Learning Credits under the OBBBA modernize education-related tax benefits. Increased refund limits, expanded eligibility, and inclusion of digital
Fueling Affordability: How the OBBBA Helps Car Buyers
Under the OBBBA, taxpayers purchasing new, U.S.-assembled vehicles can deduct up to $10,000 in car loan interest annually from 2025 through 2028. This new provision
Mortgage Interest and Insurance Deductions After OBBBA: Key Changes and Tax Planning Opportunities
The One Big Beautiful Bill Act (OBBBA) permanently sets the mortgage interest deduction limit at $750,000 and expands the deduction to include qualified mortgage insurance.
Basswood Counsel’s First Anniversary | A Message from the Founders
As Basswood Counsel marks its first anniversary, we reflect on a year of growth, collaboration, and deep gratitude—for our clients, our team, and the community
America’s Regulatory Sprint for Crypto Leadership
The U.S. is fast-tracking its crypto regulation under the Trump Administration and SEC Chairman Paul Atkins, moving from enforcement to strategic clarity. With the GENIUS
A Closer Look at the New U.S. Tariffs and Their Global Business Impact
Recent U.S. tariff changes are sending ripples across international markets, prompting businesses to reassess global trade strategies. Learn how these policies affect prices, supply chains,