IntroductionIf you’re self-employed or own a business, there’s still time to set up a Simplified Employee Pension (SEP) and reduce your 2025 tax bill. SEPs are easy to establish, offer generous contribution limits, and allowRead More »Save on 2025 Taxes with a SEP IRA
IRS Filing Season StartThe IRS will begin accepting 2025 individual income tax returns on January 26, 2026. This start date is consistent with last year, even though IRS staffing has been reduced. Filing Deadlines W-2s andRead More »IRS Filing Season 2025: What You Need to Know
This year, the usual January 31 deadline for furnishing information returns falls on a Saturday. That means the next business day — February 2, 2026, Groundhog Day — is the official deadline. W-2s for EmployeesByRead More »W-2s, 1099s, and More: Key Filing Dates for Businesses
If you run a business as a partnership, an LLC taxed as a partnership, or an S corporation, you’re operating what’s known as a “pass‑through” entity. These businesses don’t pay federal income tax directly. Instead,Read More »Key Tax Updates for Partnerships, LLCs, and S Corporations
Millions of taxpayers face losses each year from severe storms, floods, wildfires, and other disasters. If your home or personal property has been damaged, you may qualify for a casualty loss tax deduction. Recent legislationRead More »How to Claim a Casualty Loss Deduction After a Disaster
With 2025 behind us and the tax filing deadline approaching, now is the time for businesses to review which expenses qualify as deductions. The rules aren’t always straightforward, and what counts as deductible may surpriseRead More »Not All Business Expenses Are Deductible: 2025 Tax Filing Guide
Each year, tax figures are adjusted for inflation, and 2026 brings additional changes under the One Big Beautiful Bill Act, signed into law on July 4, 2025. Below is an overview of the most importantRead More »New Tax Limits and Deductions for 2026 Explained
The start of a new year brings updated tax-related figures that businesses should keep in mind. Below is a summary of the key numbers for 2026. Note that exceptions, special rules, or additional limits mayRead More »2026 Business Tax Limits and Planning Guide
Beginning in 2026, more individuals with disabilities will be eligible to open tax‑advantaged ABLE accounts. These accounts, similar to Section 529 college savings plans, allow families and individuals to save for qualified disability expenses whileRead More »How the SECURE 2.0 Act Expands ABLE Accounts
An S corporation offers the tax advantages of a partnership combined with the liability protection of a corporation. However, strict IRS requirements mean that maintaining S corporation status requires careful attention and ongoing compliance. BenefitsRead More »Preserving Your S Corp Status: Key Compliance Tips
Significant updates to charitable contribution rules will take effect in 2026, impacting how both itemizers and nonitemizers claim deductions. While some taxpayers will face new limits, others — particularly those who take the standard deductionRead More »Charitable Giving in 2026: New Limits, New Opportunities
If your business employs workers or pays independent contractors, annual information reporting is a critical compliance responsibility. The One Big Beautiful Bill Act (OBBBA) introduces notable changes to these rules — but most of them won’t affectRead More »Navigating New Reporting Obligations for Tips and Overtime in 2026
