While the April 15 tax deadline has passed, several important dates remain in 2026. Staying on top of these deadlines helps you avoid penalties and ensures you maximize tax opportunities. Here’s a streamlined calendar of […]
Read more
For LLP and LLC owners, understanding material participation is crucial. The passive activity loss (PAL) rules can restrict your ability to deduct business losses, but if you meet the material participation standards, you may be […]
Read more
After filing your 2025 tax return, it’s tempting to move on quickly. But taking a few extra steps now can help you stay organized, avoid complications, and prepare for next year’s taxes. Here’s a practical […]
Read more
Many small businesses assume ACA penalties no longer apply, but that’s a costly misconception. While the individual mandate penalty was repealed in 2019, employer shared responsibility rules remain in force — and the penalties are […]
Read more
Not ready to file your 2025 federal income tax return by April 15? You can request an automatic extension using Form 4868. This gives you until October 15 to file without facing the failure‑to‑file penalty. […]
Read more
Businesses investing in research and development (R&D) may qualify for a valuable federal tax credit. While the rules can be complex, the potential savings are significant. Below are answers to common questions about this credit […]
Read more
Mileage deductions can save taxpayers significant money, but eligibility rules have changed. With the One Big Beautiful Bill Act (OBBBA) making permanent adjustments, it’s essential to know whether you qualify for vehicle-related deductions in 2025 […]
Read more
When shareholders put money into their C corporation, the way those funds are classified — as debt or equity — can dramatically affect future tax liabilities. While equity contributions often lead to double taxation, shareholder […]
Read more
Most businesses default to closing their books on December 31, aligning with the calendar year. While convenient, this isn’t always the best choice. For some companies, adopting a fiscal year end that better reflects their […]
Read more
Several clean energy tax incentives were cut short by the One Big Beautiful Bill Act (OBBBA). If you purchased an electric vehicle or made eco‑friendly home improvements last year, you may still qualify for valuable […]
Read more