What’s a “small business,” and why does it matter?
Although your business may seem big to you, you may wonder how the government classifies it for tax purposes. If your organization qualifies as a “small business,” you may [...]
Claiming the QBI Deduction for Rental Real Estate
The One Big Beautiful Bill Act (OBBBA), enacted in 2025, made permanent the federal income tax deduction for qualified business income (QBI). This break was originally introduced under the [...]
Tax Mitigation Strategies When Rebalancing Your Investment Portfolio
Large stock market gains in recent years, coupled with some significant volatility in 2026, have left many investors with portfolios that are out of balance with their desired asset [...]
Tax Returns: Spouses Can Be Guilty Until Proven Innocent
When you got married, you knew it was for "better or worse." But you might not know about laws that hold you responsible if your spouse or ex-spouse cheats [...]
Individual tax calendar: Key deadlines for the remainder of 2026
Yes, the April 15 tax deadline is now behind us. But there are also deadlines during the rest of the year that are important to be aware of. To help [...]
Testing the Waters Before Jumping In
When considering a merger or acquisition, the most opportune time to find out about possible culture clashes is obviously before the deal is complete. In fact, one often-cited reason [...]
How to Pay Retiree Health Costs Tax-Free
If you own a small business, you may have set up a defined benefit pension plan for you and your employees that will provide a specific amount of retirement income [...]
Your Post-Tax-Filing Checklist
After you’ve filed your 2025 tax return, what’s next? It’s easy to move on to other things, but taking a little time to address some tax-related items now can help [...]
FAQs About the Research Credit
Companies that engage in research and development activities may qualify for a federal tax credit for some of those expenses. The credit is complicated to calculate, and not all [...]
Why Now Is a Good Time to Review Your Withholding
Filing your 2025 federal income tax return can provide valuable insights to help with 2026 tax planning. For example, if you receive a large refund or owe significant taxes [...]
4 Types of Deductible Interest Expense for Individuals
How can you deduct interest expense on your 2025 individual federal income tax return and beyond? Let us count the ways. Although personal interest expense isn't deductible in general [...]
Are You Eligible for Mileage Deductions?
Whether you’re filing your 2025 individual income tax return or planning for 2026, it’s important to know if you can deduct vehicle-related expenses. A change that was made permanent by [...]
Rules of the Game: The Right Way to Handle Gambling Winnings
It's not true that the "house" always wins — but it's close. Various estimates put casino "winners” — gamblers who walk away from a casino with more money than they entered [...]
Don’t Miss Your Opportunity to Make a 2025 IRA Contribution — Whether You Can Deduct It Or Not
Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination of the two). But once the contribution deadline has [...]
7 Tax Breaks for Older Taxpayers
The Internal Revenue Code has long had much to offer taxpayers who are 50 or older, nearing retirement, or already in their golden years. And the One Big Beautiful [...]