The U.S. House of Representatives passed The One, Big, Beautiful Bill Act on May 22, 2025, introducing possible significant changes to individual tax provisions. While… Read More »Tax breaks in 2025 and how The One, Big, Beautiful Bill could change them
A bill in Congress — dubbed The One, Big, Beautiful Bill — could significantly reshape several federal business tax breaks. While the proposed legislation is… Read More »5 tax breaks on the table: What business owners should know about the latest proposals
Do you believe you don’t need to worry about estate planning because of the current federal estate tax exemption ($13.99 million per individual or $27.98… Read More »The advantages of a living trust for your estate plan
If you or your employees are heading out of town for business this summer, it’s important to understand what travel expenses can be deducted under… Read More »Planning a summer business trip? Turn travel into tax deductions
As the use of digital assets like cryptocurrencies continues to grow, so does the IRS’s scrutiny of how taxpayers report these transactions on their federal… Read More »Digital assets and taxes: What you need to know
The IRS recently released the 2026 inflation-adjusted amounts for Health Savings Accounts (HSAs). Employees will be able to save a modest amount more in their… Read More »The IRS recently announced 2026 amounts for Health Savings Accounts
The gig economy offers flexibility, autonomy and a way to earn income, but it also comes with tax obligations that can catch many workers off… Read More »How working in the gig economy affects your taxes
Many businesses turn to independent contractors to help manage costs, especially during times of staffing shortages and inflation. If you’re among them, ensuring these workers… Read More »Hiring independent contractors? Make sure you’re doing it right
If you’ve recently received a settlement or award from a lawsuit, or you’re expecting one, you may be wondering how the IRS views this money.… Read More »The tax rules for legal awards and settlements: What recipients should know
Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be… Read More »Can you turn business losses into tax relief?
Even after your 2024 federal return is submitted, a few nagging questions often remain. Below are quick answers to five of the most common questions… Read More »Still have tax questions? You’re not alone
Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low,… Read More »Corporate business owners: Is your salary reasonable in the eyes of the IRS?