Financial Insights

Football season is here, which means fantasy football leagues are in full swing, office pools are heating up, and plenty of fans are putting a little money on their favorite teams, players, and parlays.
The One Big Beautiful Bill Act changed the rules for gambling losses beginning in 2026, which means the tax treatment of your sports bets and fantasy winnings may look different this year.
Here’s what taxpayers should know before the season gets too far down the field.

Virginia is changing the way future certified public accountants (CPA) can become licensed, and the update is a meaningful one for students, accounting graduates, firms, and employers across the Commonwealth. On Jan. 1, 2026, CPA candidates in Virginia will have more flexibility in how they combine education, exam completion, and professional experience on the path to licensure.
At the center of the update is a new alternative to the traditional 150-credit-hour model. Candidates will still need to pass the CPA Exam, earn at least a bachelor’s degree, complete the required accounting concentration or equivalent coursework, and gain qualifying experience. Virginia’s updated rules give candidates multiple ways to meet the experience and education requirements instead of relying on one standard route.

If you own a for-profit or not-for-profit business in Virginia and do not offer an employer-sponsored employee plan, you may be required to register and facilitate RetirePath Virginia as early as September 30, 2026.

Many taxpayers are receiving IRS Notice CP53E in 2026 stating the IRS could not direct deposit a refund—even though you were not expecting a refund.

This notice is generally a refund-hold notice connected to the federal government’s move away from paper checks, per Executive Order 14247. It usually does not mean your tax return is wrong or that a refund has been disallowed.

For many taxpayers, the tax filing calendar does not end on the original March 15th or April 15th deadlines. If you filed a 2025 extension for yourself, an entity, or a trust/estate, the extended due date is quickly approaching.

The World Cup is at halftime. Is your business tax strategy?
The 2026 FIFA World Cup is happening right now across the United States, Canada, and Mexico — 48 teams, 104 matches, and millions of fans watching every move. While the world focuses on penalty kicks and golden goals, smart entrepreneurs know that mid-July is also one of the most important moments in the financial year.
Just like a soccer team that coasts through the first half only to panic in the second, business owners who ignore taxes until April are already playing from behind. The good news? Halftime adjustments work in business too, if you make them now.

Trump Accounts: Recent Updates for Families (July 2026)
If you haven't had a chance to read our original article on Trump Accounts, you can find it here. Since it was published, several important developments have taken place, including the official account activation process, the contribution start date, initial IRS guidance, and proposed regulations. Below is a concise update outlining what's changed and what families should know moving forward.

Many entrepreneurs use QuickBooks Online to manage bookkeeping in-house as a way to reduce costs and maintain control over their financial data. Monthly bank reconciliations often provide a sense of completion, when the difference is zero and the system shows green checkmarks, it can feel like the books are fully accurate.