ARTICLES

If you and your spouse jointly operate a small, unincorporated business, you may be paying more self-employment tax than necessary. Learn how spousal partnerships are treated for tax purposes and three effective strategies to help lower your tax burden.

A major tax win for innovators: the OBBBA restores immediate deductions for U.S.-based research and experimental (R&E) costs. Small businesses may even amend prior returns to claim refunds. Learn how to optimize these opportunities, accelerate deductions, and boost your tax savings strategy.

New tax updates offer significant opportunities for small businesses to reduce taxable income and boost cash flow in 2025 and future years. If you plan to acquire new equipment, vehicles, or property improvements, now is the time to review your depreciation strategy.

Discover how divorce affects business owners, including tax-free asset transfers, future tax consequences, and the importance of accurate business valuation. Learn practical strategies to protect your financial interests and maintain confidentiality throughout the process.

Protect your business from ownership disruptions. Learn how a properly funded buy-sell agreement ensures stability, liquidity, and tax efficiency.

Learn how the Qualified Business Income (QBI) deduction can lower your tax bill and which strategies help business owners maximize this valuable benefit.

High self-employment taxes can take a big bite out of your small business income. Converting to an S corporation may help reduce those taxes and boost your take-home pay. Learn how the structure works, what to consider before switching, and whether it’s the right move for your business.

As a new fiscal year approaches, now’s the time to improve your company’s budgeting process. This article outlines five key ways to create more accurate, collaborative, and effective budgets.

Choosing the right business structure is one of the biggest decisions new entrepreneurs make. This guide breaks down how each entity type is taxed, from sole proprietorships to corporations, so you can make an informed choice. Discover which setup best fits your goals, tax strategy, and growth plans.

Accurate recordkeeping is more than just good business practice — it’s key to maximizing deductions and staying compliant. A recent Tax Court case shows how poor documentation can cost taxpayers thousands. Discover six practical ways to strengthen your recordkeeping system and safeguard valuable tax breaks.

Getting a letter from the IRS doesn’t have to be intimidating. This article explains the most common types of IRS notices, why they’re sent, and what steps you can take to respond effectively — often with simple solutions.

A safe harbor 401(k) plan can help business owners avoid complex IRS testing and allow highly compensated employees to maximize contributions. This article explains how these plans operate, their contribution requirements, and the potential pros and cons for employers.

With the OBBBA, certain taxpayers can now deduct interest on car loans for new qualifying vehicles purchased after 2024, potentially saving up to $10,000 per year. The deduction comes with income limitations and specific vehicle eligibility criteria, including final assembly in the U.S. and reporting requirements. Not all buyers or vehicles qualify, making it essential to consult a tax professional for guidance.

There are updates to the IRS reporting rules -- raising the 1099 threshold from $600 to $2,000 starting in 2026. This change reduces paperwork, lowers compliance burdens, and provides relief for small businesses while maintaining accurate income reporting requirements.

Discover how the OBBBA impacts small businesses with new tax breaks, expensing rules, R&D deductions, and phase-outs of energy incentives.

Discover the new tax advantages of Qualified Small Business (QSB) stock under the OBBBA. Learn about updated asset limits, gain exclusions, and rollover opportunities to maximize your investment strategy.

Discover practical accounts payable (AP) tips for small business owners. Learn how to improve cash flow, avoid costly mistakes, and build stronger vendor relationships with better AP management.

Effective cash flow management is essential for business stability, helping owners balance the timing of incoming sales and outgoing expenses. By monitoring business cycles and proactively adjusting strategies, companies can avoid cash shortages and maintain financial health.

The QBI deduction, now permanent under the One, Big, Beautiful Bill Act, lets eligible business owners deduct up to 20% of qualified income. Starting in 2026, expanded phase-in ranges and a $400 minimum deduction will make it easier for more taxpayers to benefit and plan tax savings. Learn more.

Starting a new business? Learn how start-up and organizational expenses are treated for tax purposes, what qualifies for deductions, and how proper planning can reduce your tax bill.