The U.S. government is now spending more on interest payments than it does on national defense—over $1.1 trillion in 2025 alone. As the debt grows and tax policies shift, everyday Americans could face higher taxes, fewer public services, and a slower economy.

In this article, we break down what’s happening, why it matters, and how smart planning with a CPA can help you stay ahead.

Top investor Scott Bessent says the U.S. could face a major financial crisis if Trump’s new tax plan doesn’t pass. With rising debt and soaring interest payments, the country is on shaky ground—and lawmakers are running out of time.

This article breaks down what’s at stake, how it could affect your wallet, and why tax planning now could protect your future.

The new U.S. tax bill is big news for businesses. Some companies could save money, grow faster, and maybe even share more profits with their investors.

But if you're hoping for big stock market gains, don’t hold your breath.

This bill helps businesses more than investors—and even then, the gains may be small. Still, understanding what’s happening can help you make better decisions.

If you’re not sure what this means for your own investments, now is a great time to speak with a financial advisor.

Smart investing is about staying steady, not chasing headlines.

If you're a U.S. citizen living abroad, the IRS says your 2024 tax return is due by June 16, 2025. Even though you have extra time, don’t delay. File your return, pay any taxes you owe, and stay on the IRS’s good side. Need help? Reach out—we’re here for you.

The stock market went down after the new tax bill passed. That’s because people are worried about debt, change, and fairness. Big money news like this touches everyone, not just Wall Street.

Stay alert. Ask questions. And remember—money may be complicated, but learning about it doesn’t have to be.

Saving money can be hard. But the new MAGA and USA Accounts might make it easier for many families across the U.S. With tax-free growth, flexible spending, and even a $1,000 bonus for babies, these accounts could help millions of people build a stronger financial future.

Want to stay updated? Follow the news and talk to a tax expert or financial advisor. They can help you understand how to prepare if these accounts become available.

President Trump’s new tax bill has some big ideas. It wants to help workers and families pay less in taxes. That sounds great, but there are also big risks.

Adding trillions to the national debt could hurt the economy down the road. It might also mean cuts to important programs like Medicare and Social Security.

As lawmakers debate the bill, it’s important to pay attention. This bill could shape how America collects and spends money for years to come.

The fight over the 2017 tax cuts is heating up. Some people want to keep the cuts going forever. Others say it would cost too much and add to the national debt.

No matter what side you're on, one thing is clear: this decision will have a big impact on your wallet, your community, and the country’s future. So it’s important to understand what’s happening and pay attention to the news.

We’ll keep you updated as Congress decides what to do. In the meantime, talk to your family, plan ahead, and make your voice heard.

Trump’s “One Big Beautiful Bill” is a big deal. It could change how much you pay in taxes, how much money the government spends, and what programs get funded. Some people love it. Others are worried. No matter how you feel, it’s important to stay informed.

We will keep watching this story and bring you updates as it moves through Congress. Remember, your voice matters!

Lewistown’s 2025 budget is still being discussed, but the proposed 5% tax increase is an important change to know about. If approved, it will begin on July 1, 2025, and will help pay for many services people use every day.

Whether you own a home, run a business, or just enjoy local events, this change may affect you. Now is the perfect time to learn more, speak up, and prepare.

Stay informed, stay involved, and help shape the future of your community.

The $4,000 used EV tax credit is a great way to save money while doing something good for the planet. With the IRS’s updated list in May 2025, now is the perfect time to explore your options.

But before you buy, talk to a trusted CPA. They’ll make sure you qualify and help you file correctly. With their help, you can drive away with confidence—and cash saved at tax time.

If you live in Florida or Georgia and were affected by recent hurricanes, the IRS has extended your tax deadline to May 1. A trusted CPA can help you make the most of this extra time, avoid penalties, and get back on track.

President Trump’s new 10% import tariff is making waves—and prices—go up. From shopping on Temu to everyday goods, American families are feeling the impact. Find out what’s happening, why it matters, and how to shop smart in 2025.

The “Silicon Six” — Amazon, Apple, Meta, Netflix, Alphabet, and Microsoft — reportedly avoided paying $278 billion in U.S. taxes. Learn how they did it, why it matters, and what it means for everyday Americans, explained in simple terms.

A new Gallup poll shows that fewer Americans believe the tax system is fair, with public trust hitting near record lows in 2025. Discover what’s driving this sentiment and how it could impact you.

Congress is currently deciding whether to extend President Trump's 2017 tax cuts, a decision that could greatly impact your family's budget and future plans. Understand what these tax changes might mean for your finances, job opportunities, the health of the economy, and the growing national debt. Stay informed and prepared!

Maryland is facing a tough money problem, but the new budget plan is trying to fix it. The state will raise some taxes and cut some spending to balance the budget. Most people won’t see big tax changes, but some services might be affected.

We’ll keep watching this story and bring you updates as things happen. In the meantime, it’s a good idea to stay informed and ask questions if you’re unsure how this may impact you.

Need Help Understanding the New Tax Rules?
Whether you’re a business owner or just curious about how these changes could affect your wallet, we’re here to help. Contact our team today to schedule a quick tax check-up or budget planning session.

Lawmakers are considering a massive tax increase on university endowments, which could impact top schools like Harvard, Stanford, and Princeton. While the government aims to raise funds, universities warn this move could mean less financial aid and higher tuition. Will this change help or hurt students? Read on to find out how this proposal could shape the future of higher education.

The Senate’s decision to repeal the Biden-era crypto tax rule is a major shift for business owners considering cryptocurrency investments. With fewer compliance burdens, investing in Bitcoin, Ethereum, and DeFi platforms may now be more attractive. But does this mean businesses are free from tax obligations? Not exactly. Elite Consulting PC can help you navigate tax rules, minimize risks, and make smart crypto investment decisions for your business.

A proposed tax bill could eliminate taxes on tips and overtime pay, impacting how businesses handle payroll and employee compensation. If passed, this law could lead to higher take-home pay for workers and potential tax benefits for business owners. Learn how this could affect your company and what changes you may need to make.