ARTICLES

Claiming business deductions? The IRS is watching closely. A recent Tax Court case shows how poor documentation can lead to denied write-offs for meals, supplies, home office use, and more. Read further to learn what went wrong and how to protect your deductions with the right records and practices.

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.

HSAs can be a smart way to manage healthcare costs while saving on taxes.The IRS has released the new 2026 HSA Limits -- Learn more.

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.

Have you received a legal settlement or expect one soon? Not all lawsuit awards are tax-free and misunderstanding how the IRS treats different types of damages could cost you. From back pay and punitive damages to physical injury claims, knowing what’s taxable is essential. We break down the key tax rules and explain why professional guidance can make a meaningful difference.

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.

Learn how a living trust can help you avoid probate, maintain privacy, and streamline asset distribution — regardless of your estate size. Discover key benefits, tax implications, and common pitfalls to avoid.

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.

Looking for a tax-smart way to support your employees and even your own family members? Learn how a Section 127 plan can offer $5,250 in annual tax-free education benefits—see if your business qualifies.

Looking for a simple, tax-smart way to offer retirement benefits? Discover how SEP and SIMPLE plans can help your small business save big in 2025—without the paperwork hassle. Read more.

Explore how pairing a high-deductible health plan (HDHP) with Health Savings Accounts (HSAs) can help your business reduce costs, offer tax benefits, and enhance employee benefits.

When someone passes away, most capital assets — like stocks, real estate, and crypto — are adjusted to their fair market value as of the date of death, resetting their tax basis. In some cases, the estate can use a valuation from six months later if it lowers estate taxes. Need help? We’re here to guide you through these rules and create a strategy that works for you.

Bookkeeping is essential for small business owners to maintain financial clarity, manage cash flow, and ensure tax compliance. It provides the foundation for informed decision-making, better business planning, and detecting financial discrepancies early. Learn more about how good bookkeeping practices can set your business up for long-term success.

If you sell a stock or mutual fund at a loss and buy a substantially identical one within 30 days, the wash sale rule applies. This rule disallows the loss for tax purposes, deferring it by adding it to the cost basis of the new shares. Proper timing is key to successfully harvesting tax-saving capital losses. Learn more.

Hiring your child to work in your small business can offer valuable tax benefits while teaching them responsibility and providing income. Learn how.

Payroll tax compliance is a critical responsibility for small businesses. Even minor errors can result in costly penalties, damage employee trust, and create legal issues. To help you avoid common pitfalls, here are six essential tips to keep your payroll on track.

Have you Experienced Rental Property Loss? As a rental property owner, there are several strategies and exceptions that can help you deduct losses from your tax returns. Learn how.

Large business or rental losses in 2025 may be limited by IRS rules, including the Excess Business Loss cap of $313,000 (or $626,000 for joint filers). Understanding these limits is key to effective tax planning.