Expanding a Corporate Business With a Tax-Free Merger
If a corporate business is seeking to quickly expand, it may be considering one of these options: Gaining control over another corporation's business (the target) indirectly via a merger [...]
More Individuals With Disabilities Will Be Eligible for Tax-Advantaged ABLE Accounts in 2026
Did you know there’s a tax-advantaged way to save for the expenses of a person with a disability that’s similar to saving for college expenses with a Section 529 [...]
Cash vs. Accrual: Choose the Right Accounting Method for Business Tax Purposes
Many businesses have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those that qualify, [...]
Why Estate Planning Still Matters
Given the dramatic increase in the federal gift and estate tax exemption over the last 20 years, there's a common misconception that federal estate planning is a concern of [...]
Checking Off RMDs on the Year-End To-Do List
You likely have a lot of things to do between now and the end of the year, such as holiday shopping, donating to your favorite charities and planning get-togethers [...]
Have You Used Up Your 2025 FSA Funds?
If you have a flexible spending account (FSA) through your employer to help pay for health or dependent care expenses, now’s a good time to check your balance. FSAs [...]
6 Year-End Small Business Tax Savings Tips
There's still time for small businesses and their owners to implement strategies to save taxes for 2025. Traditional strategies continue to be valuable, but the One Big Beautiful Bill Act [...]
Shift Income to Take Advantage of the 0% Long-term Capital Gains Rate
Are you thinking about making financial gifts to loved ones? Would you also like to reduce your capital gains tax? If so, consider giving appreciated stock instead of cash. [...]
Review Your Business Expenses Before Year End
Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025 taxes and might even provide permanent tax savings. [...]
Tax Court Case Provides Lessons on Best Recordkeeping Practices for Businesses
Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance and tax savings. Good [...]
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 [...]
Still Have Tax Questions? You’re Not Alone
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 we hear each spring. [...]
An Essential Tax Deadline Approaching
Tuesday, April 15 is the deadline for filing your 2024 tax return. But another tax deadline is coming up the same day, and it’s essential for certain taxpayers. It’s [...]
Do You Have Questions About Taking IRA Withdrawals? We’ve Got Answers
Once you reach age 73, tax law requires you to begin taking withdrawals — called Required Minimum Distributions (RMDs) — from your traditional IRA, SIMPLE IRA and SEP IRA. [...]
How Section 1231 Gains and Losses Affect Business Asset Sales
When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the Internal Revenue Code, which governs the treatment of gains [...]