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Small Business Owners

Run a business with your spouse? You may encounter unique tax issues

Federal Income Tax, Partnerships, S Corporation, Self Employment Tax, Small Business, Small Business Owners, Sole Proprietors, Tax Savings, Unincorporated Small Business /

Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue An unincorporated business with your spouse is classified as a partnership for federal income tax purposes, unless you can avoid that treatment. Otherwise, you must file an annual partnership return using Form 1065. […]

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New rules could boost your R&E tax savings in 2025

Federal Tax Deductions, Federal Taxes, One, Big, Beautiful Bill Act, Research & Experimental Expenses (R&E), Research Tax Credit, Small Business, Small Business Owners, Tax Deduction /

A major tax change is here for businesses with research and experimental (R&E) expenses. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) reinstated the immediate deduction for U.S.-based R&E expenses, reversing rules under the Tax Cuts and Jobs Act (TCJA) that required businesses to capitalize and amortize these costs over five years (15 years

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Divorcing as a business owner? Don’t let taxes derail your settlement

Business Valuation, Divorce, Federal Income Tax, Gift Tax, Ordinary Income Tax, Small Business, Small Business Owners, Small Business Tax Tips /

Divorce is stressful under any circumstances, but for business owners, the process can be even more complicated. Your business ownership interest is often one of your largest personal assets, and in many cases, part or all of it will be considered marital property. Understanding the tax rules that apply to asset division can help you

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How businesses can fund a buy-sell agreement

Buy-Sell Agreement For Businesses, Small Business, Small Business Owners /

Businesses with more than one owner benefit from having multiple viewpoints and varying skill sets. However, they also face serious risks of uncertainty and conflict if one of the owners suddenly departs or undergoes a major life change. A carefully crafted buy-sell agreement can guard against these risks — if it’s securely funded. Transfer guidelines

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Lower your self-employment tax bill by switching to an S corporation

Federal Employment Tax, Federal Taxes, Limited Liability Company, Partnerships, S Corporation, Self Employment Tax, Small Business, Small Business Owners, Small Business Tax Tips, Sole Proprietors, Taxes 2025 /

If you own an unincorporated small business, you may be frustrated with high self-employment (SE) tax bills. One way to lower your SE tax liability is to convert your business to an S corporation. SE tax basics Sole proprietorship income, as well as partnership income that flows through to partners (except certain limited partners), is subject

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5 ways businesses can assess health care benefits spending

Company Health Care Plans, Employees, Empolyee Health Coverage, Health Care, Health Care Insurance, Small Business Owners /

If your business sponsors health care benefits for its employees, you know the costs of doing so are hardly stable. And unfortunately, the numbers tend to rise much more often than they fall. According to global consultancy Mercer’s Survey on Health & Benefit Strategies for 2026, 51% of large organizations surveyed said they’re likely to make

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A tax guide to choosing the right business entity

Business Entities, Employees, Limited Liability Company, Partnerships, Payroll Tax, S Corporation, Small Business, Small Business Owners, Small Business Tax Tips, Sole Proprietors /

One of the most critical decisions entrepreneurs make when starting or restructuring a business is choosing the right entity type. This choice directly impacts how the business is taxed, the level of administrative complexity and regulatory compliance obligations. While legal liability considerations also matter, we will focus on tax implications. For liability advice, consult a

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Is your business ready for digital documents and e-signatures?

Cybersecurity, Digital Documents, Small Business, Small Business Owners, The Electronic Signatures in Global and National Commerce Act of 2000, The Uniform Electronic Transactions Act /

Whether signing a vendor agreement, approving a repair estimate or applying for a loan, chances are you’ve signed something digitally in recent months. In 2025, digital documents and e-signatures are no longer just a convenience — they’re fast becoming the standard. Businesses of all types and sizes are embracing digital workflows to improve efficiency, reduce

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The new law includes a game-changer for business payment reporting

Federal Taxes, Form 1099-K, Form 1099-Misc, Form 1099-NEC, Independent Contractors, One, Big, Beautiful Bill Act, Small Business, Small Business Owners, Taxes 2025 /

The One, Big Beautiful Bill Act (OBBBA) contains a major overhaul to 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. Beginning in 2027, the threshold amount will be adjusted for inflation. The current requirement: $600 threshold

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