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How Can I Protect My Business Expense Deductions from IRS Audits?
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.
14 minutes ago


Succession Planning: Keeping Your Family Business in the Family
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.
3 days ago


IRS Announces 2026 HSA Contribution Limits: What You Need to Know
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.
7 days ago


How Working in the “Gig” Economy affects your Taxes
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.
Jul 9


Planning a Summer Trip? Turn your Travels into Tax 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.
Jul 8


The One Big Beautiful Bill Act: What Changes Taxpayers Should Know
The One Big Beautiful Bill Act extends, adds, and ends key tax breaks. Learn more about how the changes may affect you.
Jul 7


Tax Planning Alert: Is Your Lawsuit Settlement Taxable?
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.
Jun 27


Avoiding the IRS’ 100% Penalty for Unpaid Payroll Taxes
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.
Jun 24


The Power of Estate Planning: Living Trusts
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.
Jun 16


Retirement Plan Leakage: Why It Matters and How Employers Can Respond
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.
Jun 13


Tax-Free Education Benefits: How Your Business Can Support Employee Learning While Saving on Taxes
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.
Jun 11


Exploring SEP and SIMPLE IRA Plans: Tax-Advantaged Retirement Solutions for Small Businesses
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.
Jun 10


Is It Time to Rethink Your Company’s Health Insurance Strategy? HDHPs and HSAs Could Be the Answer
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.
Jun 9


Understanding the Step-Up in Basis When Inheriting Assets
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.
May 29


The Importance of Bookkeeping for Small Business Owners
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.
May 19


Watch Out for the Wash Sale Rule When Harvesting Tax Losses
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.
May 16


Thinking About Hiring Help This Summer? Consider Putting Your Child on the Payroll
Hiring your child to work in your small business can offer valuable tax benefits while teaching them responsibility and providing income. Learn how.
May 13


6 Tips for Staying Compliant with Payroll Tax Laws
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.
May 12


Have you Experienced Rental Property Loss?
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.
May 9


What Small Business Owners Need to Know About Business Loss Deductions
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.
May 8
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