ARTICLES

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.

Discover how the 20% federal rehabilitation tax credit can lower costs for renovating or relocating your business into a historic property. Learn eligibility rules, qualified expenses, and ways to maximize tax benefits.

Discover how the One Big Beautiful Bill Act (OBBBA) benefits small businesses with enhanced tax benefits production property starting in 2025.

Thinking about incorporating your business? While incorporation offers benefits like liability protection and growth opportunities, it also brings tax considerations like how much you pay yourself or other key employees. Learn about the IRS’s stance on reasonable compensation, the risks of misclassification, and real-world examples to help you make informed decisions.

Proper worker classification is critical to avoiding costly IRS penalties, audits, and back taxes. Learn the key differences between employees and independent contractors, how to reduce risk, and when to seek guidance. Make sure your business stays compliant and protected.

A practical guide for family business owners on navigating estate and succession planning. Learn how to transfer ownership, reduce estate taxes, and preserve control through strategies like trusts, business structures, family partnerships, and ESOPs while keeping the business in the family.

Working a side gig? Learn how to manage taxes as an independent contractor — from tracking income and expenses to understanding self-employment tax and deductions.

Planning summer trip? Learn which business travel expenses are tax-deductible in 2025, including key rules for combining business and personal travel, meal limits, and documentation tips.

The One Big Beautiful Bill Act extends, adds, and ends key tax breaks. Learn more about how the changes may affect you.

If your business fails to remit withheld payroll taxes, the IRS can hold individuals personally liable under the Trust Fund Recovery Penalty — also known as the 100% penalty. Learn what courts look for and how you can protect yourself from this costly mistake.

Even profitable businesses can face challenging years. Learn how net operating losses (NOLs) can help reduce future tax burdens, and how recent tax law changes affect your ability to claim them. Discover why smart planning is key to maximizing the benefits of business losses.

Is your retirement plan at risk from early withdrawals? Learn how “leakage” could be costing your business more than you think — and what you can do about it. Read the full article for actionable insights.

Considering ways to offer tax-smart employee health benefits? Discover how EBHRAs can give your business flexibility and savings. Read the full breakdown.