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.
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.
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).
How to Adjust Your Prices for Maximum Profit
Pricing is among the most powerful levers for business owners to calibrate their companies’ profitability. Setting prices too low risks leaving money on the table. Set them too high and customers may pass you by for cheaper competitors.
The QBI Deduction: Good News for Eligible Business Owners
If you’re a small business owner or you’re self-employed, there’s good news on the tax front. The Section 199A qualified business income (QBI) deduction, a powerful tax-saving opportunity since 2018, was initially set to expire in 2025. But thanks to the recent enactment of the One Big Beautiful Bill Act (OBBBA), it’s not only here to stay, it’s also improved.
Before a Weather Emergency Closes Your Business, Make a Plan
It’s hurricane season, which is just one of several weather emergencies and other natural disasters companies may face, depending on location. Tornadoes, floods, and wildfires also pose serious threats. According to the Federal Emergency Management Agency (FEMA), about 25% of businesses never reopen after a major disaster. And many that do reopen struggle to recover.
OBBBA Restores 100% Deductions for Small Businesses
Big Tax Savings Are Back: What the OBBBA Means for You
The new One Big Beautiful Bill Act (OBBBA) is a game-changer for small business owners. It restores and even expands some of the most valuable tax deductions available—helping you write off more of your investments, faster.
Here’s what you need to know in plain English:
Should You Be Making Estimated Payments?
If your federal tax withholding isn’t enough to cover your total tax liability, you may need to make estimated tax payments. This typically applies if you have income from sources such as interest, dividends, capital gains, or self-employment. The following rules explain how to make these payments without incurring an underpayment penalty.
The Quirky Math of Partnership Income
When it comes to taxation, partners in a business may find the math a bit puzzling. You may discover that the amount of partnership income you’re taxed on is more than the amount that was distributed to you. That’s a quirk of taxation that lies in the way partnerships and partners are taxed.
New Law Changes Business Payment Reporting Rules
The One Big Beautiful Bill Act (OBBBA) contains a major overhaul of an outdated IRS requirement. Beginning with payments made in 2026, the new law raises the threshold for information reporting on certain business payments from $600 to $2,000. Starting in 2027, the threshold amount will be adjusted for inflation.