Payroll fraud can be costly and devastating, especially for small businesses. According to the Association of Certified Fraud Examiners (ACFE), the median loss from payroll fraud schemes is $50,000, and long-term fraud, particularly by upper management, can reach millions of dollars.
There’s Still Time to Set Up a SEP and Save on Taxes
If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one before you file your 2025 tax return.
February 2026 Tax Due Dates
February 17 Employers: Deposit nonpayroll withheld income tax for January if the monthly deposit rule applies. Employers: Deposit Social Security, Medicare, and withheld income taxes for January if the monthly deposit rule applies. Businesses: Provide Form 1099-B, 1099-S, and certain …
IRS Tax Transcript Masking Rules: Prevent Business Identity Theft
The IRS masks sensitive information on both individual and business tax transcripts as part of its ongoing efforts to reduce identity theft and protect taxpayer data.
Tax Planning Includes Keeping Good Records — Seven Helpful Tips
It’s January, and tax season is right around the corner. For many people, that means scrambling to collect receipts, mileage logs, and other tax-related documents needed to prepare their tax returns. If this describes you, chances are, you’re wishing you’d kept on top of it during the year so you could avoid this scenario yet again. With this in mind, here are seven suggestions to help taxpayers like you keep good records throughout the year:
Can You Claim a Tax Deduction for Tips or Overtime Income?
If you received tips or overtime pay in 2025, you may be eligible for a new deduction when you file your income tax return. Both deductions can be claimed whether or not you itemize deductions. But various rules and limits …
2026 Tax Law Changes for Individuals
Here’s a sampling of some significant tax law changes going into effect this year: Contact our office to discuss how these or other changes might affect you.
Businesses: Act Soon to Take Advantage of Clean Energy Tax Incentives
While legislation signed into law in 2025 extends or enhances many tax breaks for businesses, it ends some clean energy tax incentives. Fortunately, your business may still benefit from certain clean energy breaks if it acts in the first half …
Heavy Tax Breaks for Heavy Business Vehicles
Did you buy a “heavy” business vehicle in 2025? An SUV, pickup or van with a manufacturer’s gross vehicle weight rating (GVWR) over 6,000 pounds that’s used over 50% in your business is treated as transportation equipment for tax purposes. …
Make Smart Choices With a Sudden Windfall
An unexpected influx of money (such as from an inheritance, bonus, legal settlement, or lottery win) can feel exciting and full of possibility, but without a clear plan, that financial good fortune might not last as long as you’d hoped. …