Answers to Your Questions about Marital Status and Tax Returns
When a couple ties the knot or gets divorced, taxes are probably not the first thing on their minds. But many decisions that couples make do affect their tax returns [...]
Employers: Avoid Tax Surprises When Making Holiday Gifts to Employees
As the year draws to a close, many businesses look for ways to recognize and thank their employees. From gift cards to holiday treats to service awards, the options [...]
Boost Your Tax Savings by Donating Appreciated Stock Instead of Cash
Saving taxes probably isn’t your primary reason for supporting your favorite charities. But tax deductions can be a valuable added benefit. If you donate long-term appreciated stock, you potentially [...]
5 Potential Tax Breaks to Know Before Moving a Parent Into a Nursing Home
Approximately 1.3 million Americans live in nursing homes, according to the National Center for Health Statistics. If you have a parent moving into one, taxes are probably not on [...]
The QBI Deduction and What’s New in the One Big Beautiful Bill Act
The qualified business income (QBI) deduction, which became effective in 2018, is a significant tax benefit for many business owners. It allows eligible taxpayers to deduct up to 20% [...]
The One, Big, Beautiful Bill could change the deductibility of R&E expenses
The treatment of research and experimental (R&E) expenses is a high-stakes topic for U.S. businesses, especially small to midsize companies focused on innovation. As the tax code currently stands, [...]
Reimburse Employees the Tax-Smart Way
In many types of businesses, it's common for employees to spend money on behalf of the company — such as for travel, client meals or supplies. How those expenses [...]
Dividing Retirement Accounts with a Qualified Domestic Relations Order
If you're in the middle of a divorce, you and your soon-to-be ex-spouse may want to determine how to handle any retirement accounts upon settlement of your financial matters. There [...]
The ABCs of 529 Plans and ABLE Accounts under the OBBBA
Section 529 plans are most commonly used as a tax-favored way to save and pay for college expenses. You might be reluctant to open a 529 account for your [...]
Payroll Tax Implications of New Tax Breaks on Tips and Overtime
Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes that. Tip income deduction For [...]
Small Business Tax Planning Tips
The One Big Beautiful Bill Act (OBBBA), which became law on July 4, 2025, includes many favorable changes that will help small businesses and their owners. But it's not [...]
FAQs About Reasonable Compensation for S Corporation Owners
Federal taxes are a major consideration when determining how to structure your business, and many business owners choose to operate as S corporations for their tax advantages. One upside [...]
The New Law Includes Favorable Changes for Depreciating Eligible Assets
The One Big Beautiful Bill Act (OBBBA) includes a number of beneficial changes that will help small business taxpayers. Perhaps the biggest and best changes are liberalized rules for [...]
What the New Tax Law Could Mean For You
As 2025 began, individual taxpayers faced uncertainty with several key provisions of the tax law that were set to expire at the end of the year. That changed on July [...]
Understanding Spousal IRAs: A Smart Retirement Strategy for Couples
Retirement planning is essential for all families, but it can be especially critical for couples where one spouse earns little to no income. In such cases, a spousal IRA [...]