Category Archive: Tax

Planning for 2025 and the future with the new tax law

Will you be able to benefit from the One Big, Beautiful Bill Act (OBBBA), signed into law earlier this year? The law makes many tax provisions, which were scheduled to expire at year end, permanent ...

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2025 Tax Filing Risks, Inheritance Rules & Family Hiring Benefits

What could happen if you don’t file your taxes? If you’re required to file a tax return but don’t, the IRS might step in and file one for you. That’s rarely in your favor. This ...

What the OBBBA means for your business

The One, Big, Beautiful Bill Act (OBBBA), which was enacted on July 4, 2025, is filled with favorable tax provisions for businesses. It makes permanent or extends many tax breaks that had already expired or ...

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Businesses: Reduce audit agony by keeping sharp records

If you own a business or are in the process of starting one, it’s essential to maintain accurate records of your income and expenses. This not only ensures you’re capturing every tax deduction you’re entitled ...

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The One Big Beautiful Bill

Signed into law on July 4, 2025, the One Big Beautiful Bill is the most substantial federal tax overhaul since the 2017 Tax Cuts and Jobs Act. At over 870 pages, this sweeping legislation reshapes ...

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Exploring Midyear Tax Planning Strategies for Your Company

Businesses can make many last-minute moves at the end of the year to lower their tax bills, but year-end planning can only go so far. Some of the most effective strategies take time to implement, ...

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Cash or Accrual Accounting: Choose Carefully for Your Small Business

To manage their finances and accurately file their taxes, most small business owners must choose between two accounting methods: cash or accrual. This choice directly affects how and when you report income and expenses, and ...

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Are You Sure About Those Beneficiaries?

Regularly review who’ll receive your assets. Do you know the meaning of the term “nonprobate assets?” These assets bypass more traditional estate planning vehicles, such as a will or revocable trust, and are transferred to ...

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Tax Tips: July 2025

Renting to family and friends: Handle with care Ordinarily, you can deduct the expenses of owning and operating a rental property. You may even be able to claim a loss if those expenses exceed your ...

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65-Day Election Deadline Approaches for Complex Trust and Estates

Updated February 14, 2025 A complex trust or estate may make an election under Internal Revenue Code Section 663(b) to treat all distributions made during a 65-day period as having occurred on the last day ...

BOI Update Blog Post

FinCEN BOI Reminder

As this reminder was going to press, a Texas-based federal court issued a preliminary injunction prohibiting the federal government from enforcing the requirement to report Beneficial Ownership Information (BOI).  The federal government is expected to ...

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Did You Know? The Upcoming Changes Impacting Estate and Gift Tax Law

The landscape of gift and estate tax planning is experiencing significant shifts, with the upcoming 2026 sunset looming as a pivotal moment for tax professionals and high-net-worth individuals. This article delves into the key points ...