Comparing Business Exit Options
Selecting your business successor is a fundamental objective when planning your exit strategy. The ideal path strikes a balance between financial security, tax efficiency, and legacy.
How Does the New Tax Deduction for Car Loan Interest Work?
Generally, except for home mortgage interest, personal interest expense isn’t deductible for federal income tax purposes. With the passage of the legislation commonly known as the One Big Beautiful Bill Act (OBBBA), another exception has been added. That is, you might be able to deduct your car loan interest. But various rules and limits apply.
Last-Minute Tax Strategy: Accelerating Deductions
Have you been claiming the standard deduction the last few years? If so, you may want to rethink that for this tax year.
The expanded state and local tax (SALT) deduction may cause your total itemized deductions to exceed the standard deduction, and itemizing to make sense.
The Tax Implications of Remote Work
Remote work can offer advantages for both employers and employees. But it’s not without challenges, such as unexpected tax consequences.
Simplify Expense Reporting With High-Low Travel Per Diem Rates
The “high-low” per diem method is a simplified way to reimburse employees who travel for your business compared to tracking actual lodging, meal, and incidental expenses.
NOL Deductions Can Ease the Pain of Business Losses
For income tax purposes, a business loss generally occurs when a business’s deductions for the year exceed its revenue. Any business, whether new or established, can face losses. Fortunately, the net operating loss (NOL) deduction can turn the pain of a loss this year into tax savings for next year and, perhaps, beyond.
What Are the Tax Consequences of Employee Gifts?
The holidays are a time for gratitude, and many employers show appreciation by giving gifts to their staff. Different types of gifts can have different tax consequences.
So whether it’s a gift card, a holiday turkey, or a year-end bonus, it’s important to know how the IRS will treat the gift.
401(k) Compliance Guide: Fiduciary Duties, Fees & Administration
2025 401(k) Plan Compliance Guide: Fiduciary Oversight, Fees, and Administration
If your business sponsors a 401(k) plan for employees, managing it is more than a formality — it’s a legal responsibility. Under the Employee Retirement Income Security Act (ERISA), plan sponsors have a fiduciary duty to act prudently and solely in the best interest of participants.
6 Year-End Tax Strategies to Reduce Your Business Taxes
Year-round tax planning produces the best results, but December still offers opportunities to reduce your business taxes. Use these six strategies before year-end:
New QPP Deduction Can Save Manufacturers Significant Taxes
The One Big Beautiful Bill Act (OBBBA) allows 100% first-year depreciation for nonresidential real estate that’s classified as qualified production property (QPP).