ARTICLES

New to running a business and accepting cash payments? Learn the IRS rules for Form 8300 including when you’re required to report cash transactions over $10,000 and the penalties for not filing. Clear guidance can help new business owners stay compliant and avoid expensive mistakes.

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.

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.

Rising employee health care costs can strain your business budget. Learn five ways to analyze, audit, and optimize your health benefit spending to ensure your dollars are being used effectively.

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.

Learn how individuals aged 50 and over can maximize their retirement savings through catch-up contributions to IRAs and employer-sponsored plans. Discover annual limits, tax benefits, and example scenarios to help boost your financial future.

Starting in 2025, certain workers may be eligible for new federal tax deductions on qualified tip and overtime income. These deductions, available through 2028, come with specific eligibility rules and reporting requirements for both employees and employers. While payroll taxes still apply, the changes may reduce taxable income for some workers.

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.

Teachers often spend their own money on classroom supplies, and tax law offers ways to ease that burden. Eligible educators can currently deduct up to $300 in unreimbursed expenses as an above-the-line deduction. Beginning in 2026, the OBBBA introduces a new itemized deduction with broader eligibility and no dollar limit. Careful tracking of expenses can help maximize these valuable tax breaks.

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.

Learn how the OBBBA’s new provisions for 2025–2028 affect estimated tax payments, deductions, and credits — plus strategies to optimize your tax planning under the latest regulations.

Learn how the alternative minimum tax (AMT) works, recent changes under the OBBBA, and what risk factors could trigger AMT liability in 2026 and beyond.

Learn how the OBBBA tax law impacts families with changes to credits, savings accounts, 529 plans, and more.