Final regulations were recently issued regarding details about investment in qualified opportunity zones (QOZ) that modified and finalized proposed regulations for QOFs and QOZ businesses that were previously issued on October 28, 2018, and May 1, 2019.
Tax Planning: Key Considerations When Selling Your Business
Summary: Tax Essentials for Selling Your Business
Selling a business requires proactive tax planning because the IRS views the sale not as a lump sum, but as a collection of individual assets.
Enhanced SALT Tax Break Will Help Many Homeowners
The One Big Beautiful Bill Act (OBBBA), enacted on July 4, will allow more taxpayers to fully deduct their state and local tax (SALT) expenses (including property tax). Here are the details.
Can Your Business Benefit from the WOTC?
Employers who hire new workers may qualify for a tax benefit, but they shouldn’t wait too long. The Work Opportunity Tax Credit (WOTC) is a valuable federal tax credit that incentivizes employers to hire from certain targeted groups that face employment barriers.
2 Important Changes for Businesses under the New Tax Law
The One Big Beautiful Bill Act (OBBBA) introduces a range of tax changes that will impact businesses. Many provisions set to expire this year are now being extended or made permanent. Below is a snapshot of two important changes to help you with tax planning in the fourth quarter of 2025 and going forward.
Say Goodbye to Paper Checks
Beginning September 30, 2025, the federal government will generally no longer issue paper checks, including those for tax refunds, Social Security benefits, and other payments.
Tax Breaks for Medical Expenses
Depending on your situation, you may be able to claim certain medical expenses as deductions on your tax return. However, you must itemize deductions, and having enough expenses to qualify can be challenging. Here are five tips to keep in mind:
Dependent Care Flexible Spending Accounts for Your Business
Employers seeking to offer family-friendly benefits may want to consider flexible spending accounts (FSAs) for dependent care. These FSAs let employees make pre-tax contributions through payroll withholding to help cover eligible expenses.
Compliance and Trends in Hybrid Work Models
If your business allows employees to perform their jobs under a hybrid work model, you’re certainly not alone. Ever since the pandemic initiated this shift, many companies have sought to strike a critical balance between allowing remote flexibility and requiring staff to come into the office (or another type of facility).
The Critical Role of Meticulous Business Recordkeeping
Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in maintaining financial health, ensuring compliance, and maximizing tax savings.