Owning commercial property could mean you’re overlooking significant tax benefits. A cost segregation study is a powerful strategy that blends accounting and engineering to identify building costs that can be reclassified as tangible personal property. […]
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Standard Deduction vs. ItemizingWhen filing your individual income tax return, one of the biggest decisions is whether to claim the standard deduction or itemize. The One Big Beautiful Bill Act (OBBBA) has changed the landscape […]
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IntroductionTrump Accounts (TAs) are a new tax-advantaged savings tool created under the One Big Beautiful Bill Act (OBBBA). They are designed to help children build long-term savings. Eligible children born between 2025 and 2028 can […]
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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 deduction […]
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If your business employs workers or engages independent contractors, you have annual information reporting responsibilities. The One Big Beautiful Bill Act (OBBBA) introduces changes affecting these rules, but these will not take effect until the […]
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Businesses can generally deduct interest paid or accrued for federal tax purposes, but limits apply. Starting in 2025, changes under the One Big Beautiful Bill Act (OBBBA) will allow larger deductions for many taxpayers. Understanding […]
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The One Big Beautiful Bill Act (OBBBA) introduces a powerful new tax incentive for manufacturers and similar businesses. Under this legislation, companies can claim 100% first-year depreciation on nonresidential real estate classified as Qualified Production Property (QPP)—a significant […]
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As 2025 winds down, now is the ideal time to assess your business expenses for potential tax deductions. Accelerating deductible costs into this year can reduce your 2025 tax liability—and in some cases, lead to […]
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If you typically pay more than $10,000 in state and local taxes (SALT), the One Big Beautiful Bill Act (OBBBA) could significantly reduce your 2025 federal tax bill. But to take full advantage, you’ll need […]
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The One Big Beautiful Bill Act (OBBBA), enacted on July 4, 2025, brings both opportunities and deadlines for businesses investing in clean energy. While the legislation extends or enhances several tax benefits, it also accelerates […]
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