Tax Law

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Guide to Rising ACA Employer Mandate Penalties in 2026

Many small businesses operate under the assumption that they do not have enough workers to worry about the “play-or-pay” provisions of the Affordable Care Act (ACA). However, as a business expands, these rules can apply much sooner than expected.

A common misconception contributes to this blind spot: the belief that the repeal of the individual mandate penalty under the Tax Cuts and Jobs Act applied to businesses as well. While the individual mandate penalty for citizens was eliminated, the employer shared responsibility rules remain fully in effect and heavily enforced.

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Small Business Tax Thresholds and IRS Accounting Exemptions

Although your company may feel expansive to you, you might wonder how the federal government officially classifies it for tax purposes. If your organization qualifies as a small business, you can lock in several critical tax advantages.

However, the specific rules for individual tax provisions vary. Depending on your exact operational size, you might be eligible for some small-business breaks while being excluded from others.

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Take Advantage of Expanded QSB Stock Tax Benefits

Investors often look to small, emerging companies for portfolio diversification and growth potential, but these investments can offer more. Certain shares may also provide valuable tax advantages under the qualified small business (QSB) stock rules. Tax legislation signed into law in 2025, commonly known as the One Big Beautiful Bill Act (OBBBA), enhanced those benefits.

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Russo CPA Tax Tips: Excise Taxes and your business

How IRS Tax Debt Affects Your Passport Under the FAST Act

Under the Fixing America’s Surface Transportation (FAST) Act, the IRS has the authority to certify individuals with “seriously delinquent tax debts” to the State Department. This certification can lead to the denial of a passport application or renewal and, in some cases, the revocation of an existing passport.

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Layoff Alternatives: Strategies to Reduce Costs and Retain Talent

Laying off staff is every business owner’s least-favorite task. While reducing your workforce can restore short-term stability, it often comes with hidden long-term costs: severance pay, legal fees, loss of institutional knowledge, and the massive expense of rehiring when the economy rebounds.

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Never Too Late to Start! 6 Hidden Tax Deductions for Businesses

Every tax year is a new opportunity to save.

Even after year-end, business owners still have opportunities to uncover overlooked deductions, adjust classifications, and make strategic moves that can reduce taxable income. If your numbers aren’t where you want them, a closer review may reveal deductions worth thousands.

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Tax FOMO: Are You Losing $1,000s in Tax Savings?

The Power of Hiring a CPA (And What Could Happen if You Don’t)

You know about FOMO, or “fear of missing out,” when it comes to skipping a good party. You should also have a very healthy fear of losing out on tax savings. How? By trusting anyone other than a qualified CPA to handle your taxes!

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Easier Reporting Rules for Some Forms

A pesky reporting burden for businesses will be eased by legislation signed into law on July 4. Currently, businesses must issue a Form 1099-MISC to any payee (and to the IRS) when transactions reach $600 in a calendar year.

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Opportunity Zone Guidance Finalized

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.

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