Introduction Thoughtful business gifts are a great way to show appreciation to customers and employees. They can also bring tax advantages — if handled correctly. Unfortunately, the IRS limits most business gift deductions to $25… Read More »How to Maximize Your Business Gift Tax Deductions
The Social Security Administration has announced the 2026 wage base, and it’s set to rise again. Let’s break down what this means for both employees and self-employed individuals — and how it will impact your… Read More »Payroll Taxes in 2026: What the New Social Security Wage Base Means
As the year draws to a close, projecting your business income for this year and next can help you strategically time income and deductible expenses for the best tax outcome. Generally, it’s wise to defer… Read More »Smart Year-End Tax Moves for Accrual-Basis Taxpayers in 2025
Health care costs keep climbing, making it essential to find ways to manage expenses wisely. One increasingly popular option is pairing a high-deductible health plan (HDHP) with a Health Savings Account (HSA). This combination offers… Read More »HDHP + HSA: A Tax-Savvy Way to Save on Health Care Costs
As the year comes to a close, now is the perfect time to review your business expenses and determine which costs are deductible. Accelerating deductible expenses into this year can help reduce your 2025 tax… Read More »How to Review and Maximize Your Business Expense Deductions Before Year-End
If you pay more than $10,000 in state and local taxes (SALT), a new provision in the One Big Beautiful Bill Act (OBBBA) could significantly reduce your 2025 federal income tax bill. However, income-based limits… Read More »The 2025 SALT Deduction Cap Increase Could Save You Thousands in Taxes
Commercial real estate is typically depreciated over 39 years, but certain interior improvements qualify for accelerated depreciation or even full immediate expensing. These improvements, known as Qualified Improvement Property (QIP), can offer significant tax savings… Read More »Should Your Business Maximize Real Estate Improvement Deductions or Spread Them Out?
Supporting your favorite charities is about making a difference — but that doesn’t mean you can’t also enjoy some valuable tax benefits. If you donate long-term appreciated stock instead of cash, you could significantly increase… Read More »Boost Your Tax Savings: Donate Appreciated Stock Instead of Cash
The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, extends and enhances several tax incentives for businesses. However, the legislation also accelerates the expiration of key clean energy tax breaks,… Read More »Businesses Still Have Time to Claim Clean Energy Tax Incentives Before They Expire
A New Tax Break for Seniors: The OBBBA Senior Deduction Beginning in 2025 and lasting through 2028, individuals age 65 and older can claim a new “senior deduction” of up to $6,000 under the One Big Beautiful Bill… Read More »Maximize Your New Senior Tax Deduction Under the OBBBA (2025–2028)
Managing business travel expenses can be a headache for employers and employees alike. Tracking receipts for meals, hotels, and incidentals often leads to frustration and administrative burdens. Fortunately, the IRS’s high-low per diem method offers… Read More »Efficient Business Travel: 2025-2026 IRS Per Diem Rates Unveiled
With approximately 1.3 million Americans residing in nursing homes, as reported by the National Center for Health Statistics, transitioning a parent into such a facility involves significant financial planning. While taxes may not be your… Read More »5 Key Tax Breaks to Know Before Moving a Parent into a Nursing Home