The One Big Beautiful Bill Act (OBBBA) included favorable changes to the federal income tax rules for depreciating business assets. And there are annual inflation adjustments to keep track [...]
Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax credits, because they [...]
Will you be cruising the waters on your boat or camping out in your RV this year? Besides the pleasure you can enjoy through your personal property, you may also [...]
The 2026 Social Security wage base has been released. What’s the tax impact on employees and the self-employed? Let’s take a look. FICA tax 101 The Federal Insurance Contributions [...]
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 [...]
There's good news for businesses considering buying equipment and other capital assets: The One Big Beautiful Bill Act (OBBBA) dramatically improves first-year depreciation tax breaks. Here's what you need [...]
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 are properly classified for [...]
When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and disadvantages that may significantly affect your business [...]
Summer is a good time to take stock of how your small business is doing this year and consider options for reducing your 2024 federal income tax bill. Thankfully, it [...]
The IRS has announced a new audit initiative targeting the personal use of business aircraft. Some businesses took advantage of the Tax Cuts and Jobs Act's generous bonus depreciation provision [...]
Homeowners have long been rewarded with favorable tax treatment for making energy-efficient improvements. The Inflation Reduction Act, enacted in 2022, expands the tax credit for qualified energy-efficient improvements to help [...]
Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated land that [...]
The rules for deducting depreciation expenses on vehicles used for business purposes have been liberalized under current tax law, but they remain complicated. In addition, annual inflation adjustments make allowable depreciation [...]
For years, the tax code has offered an incentive for employers to provide child care to their employees in the form of the Section 45F child care tax credit. But [...]
The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the tax agency will begin accepting and processing 2023 tax year [...]