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 SALT deduction cap increase could be a big win for many taxpayers—especially in high-tax states. But the debate in Congress is far from over. While lawmakers argue over the final details, the best thing you can do is be prepared.

By working with a tax professional, you can understand your options, lower your tax bill, and plan ahead with confidence.

Section 899 is a big change in how the U.S. treats foreign investors. Some people think it’s a smart way to fight back against unfair taxes. Others think it could cause more problems than it solves.

As the Senate debates this new tax, everyone—from investors to business owners—will be watching closely.

If it becomes law, it may change the way the world sees investing in America.

This new tax law could be a game-changer for people who earn tips or work overtime. It’s designed to help hard-working folks keep more of their money.

If you think you might qualify, now is the time to prepare. Keep your records, talk to a tax professional, and stay up to date on the news.

We’ll keep you posted as this law moves forward.

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 IRS has released its 2025 inflation adjustments, including new tax brackets, higher standard deductions, and increased contribution limits—but what do these changes really mean for your wallet? In this guide, we break it down in simple terms and explain why hiring a CPA is your smartest move this tax season. From uncovering hidden deductions to helping you plan ahead, a trusted CPA can turn tax rules into real savings. Learn how Elite Consulting, P.C. helps clients take full advantage of these updates with expert advice and stress-free tax planning.

2025 is shaping up to be a great year for taxpayers. Bigger refunds and faster payments mean more money when you need it. Just make sure you file early, check your return carefully, and use direct deposit.

And remember—Elite Consulting PC is here to help you every step of the way. Whether it’s finding extra savings or making sure you don’t miss deadlines, they make tax time easier (and more rewarding) for you.

Arkansas has become the first state in America to stop taxing NIL and university earnings for college athletes. This gives students more money and schools more power to recruit top talent.

It’s a big win for Arkansas—and a big sign of what may be coming next across the country.

Whether you’re a student athlete, parent, or coach, the rules around NIL and taxes can get tricky. A trusted CPA can help you:

• Stay legal
• Keep more of your money
• Plan for long-term success

The IRS projects a tax gap of $688 billion for 2021, highlighting the challenges of tax compliance and enforcement. This gap is caused by underreporting of income, nonfiling, and underpayment, and it could lead to higher taxes for those who follow the rules. Elite Consulting can help you navigate these challenges, ensuring you’re filing your taxes correctly and taking advantage of all available deductions, so you don’t overpay. Let us help you reduce your tax liability and keep more of your hard-earned money.

Discover the DOJ’s decision to keep its Tax Division centralized in Washington, D.C. and learn why this move is essential for the future of tax law enforcement and tax cases across the U.S.

If you're a business owner or taxpayer feeling uncertain about the shifting tax laws, Elite Consulting PC is here to provide clarity. Our team of experienced tax professionals is ready to guide you through the complexities of tax regulations and ensure your business stays on track. Whether you're dealing with an IRS audit or simply looking for expert advice to optimize your tax strategy, we offer customized solutions designed to meet your unique needs. Reach out to Elite Consulting PC today and navigate the ever-changing tax landscape with confidence!

Climate nonprofits in the U.S. are facing new threats to their tax-exempt status under proposed actions by President Trump. This article explains what could change, how it impacts environmental charities, and what legal and public responses are underway—all in simple language anyone can understand.

The IRS has laid off thousands of workers during the busiest time of the year. Find out what this means for your tax return, refund delays, and how to stay prepared in 2025.

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!

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.

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.

International tax disputes might sound like a problem only for big businesses, but they can impact everyday people, too. When countries like France and the UK impose extra taxes on American tech giants like Amazon and Meta, it can lead to ripple effects—delayed tax refunds, fewer free tax filing options, higher prices on goods, and even job uncertainty.

To protect yourself, it's important to file your taxes early, stay informed about tax law changes, and explore free or low-cost tax filing options. Understanding how these international tax battles affect your finances can help you make smarter money decisions.

Great news for taxpayers! In 2025, the IRS is expanding its free tax filing program, allowing over 30 million people in 24 states to file their federal taxes at no cost using the IRS Direct File system. This means eligible taxpayers can avoid expensive tax software and keep more of their hard-earned money.

However, not everyone qualifies—itemized deductions and complex returns are not yet included. If you’re wondering who can use this service, how it works, and how much you can save, this guide breaks it all down. Keep reading to see if IRS Direct File is the right choice for your 2025 tax return!