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Small Business Tax Tips

Some small businesses can still benefit from the health care coverage credit

Leave a Comment / Company Health Care Plans, Employee Benefits, Empolyee Health Coverage, Health Care Insurance, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips, Tax Credits /

Tax credits reduce tax liability dollar-for-dollar. As a result, they can be more valuable than deductions, which reduce only the amount of income subject to tax. One tax credit that hasn’t been getting much attention lately but that can still be valuable for some small businesses is the credit for providing health insurance to employees. […]

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There’s still time to set up a SEP and reduce your 2025 taxes

Leave a Comment / Federal Income Tax, Limited Liability Company, Partnerships, S Corporation, Self Employed, Simplified Employee Pension (SEP), Small Business, Small Business Owners, Small Business Tax Tips, Tax-Advantaged Retirement Plan, Taxes 2025 /

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. If you choose a Simplified Employee Pension (SEP), you’ll be able make deductible 2025 contributions to it, saving you taxes. Not only is the SEP deadline favorable, but

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Tax filing update for pass-through entities

Business Interest Expense Deductions, Federal Income Tax, First-Year Depreciation, Limited Liability Partnership (LLP), LLC, One, Big, Beautiful Bill Act, Partnerships, Pass Through Taxation, S Corporation, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips, Tax Deadlines /

Do you operate a business as a partnership, a limited liability company (LLC) treated as a partnership for tax purposes or an S corporation? In tax lingo, these are called “pass-through” entities because their taxable income items, tax deductions and tax credits are passed through to their owners and taken into account on the owners’ federal

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Not all “business” expenses are tax deductible

Business Expenses, Business Valuation, Debt-to-equity Ratio, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips, Tax-Deductible Business Expenses, Working Capital In Business /

Valuation professionals often use discounted cash flow (DCF) techniques to determine the value of a business or estimate economic losses. A critical input in a DCF model is the cost of capital — the rate that’s used to discount future earnings to today’s dollars. Modest changes in this rate can have a major impact on

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Important 2026 tax figures for businesses

401K, 403 (b), Dependent Care FSAs, Depreciation, Depreciation Deduction (Section 179), FSA, HSA, Section 179, Simples, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips, Tax Planning /

 A new Year brings many new tax-related figures for businesses. Here’s an overview of key figures for 2026. Be aware that exceptions or additional rules or limits may apply. Depreciation-related tax breaks Qualified retirement plan limits Other benefits limits Miscellaneous business-related limits Planning for 2026 We can help you factor these changes and others into

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Significant changes to information reporting go into effect for the 2026 tax year

Employees, Federal Income Tax, Independent Contractors, One, Big, Beautiful Bill Act, Small Business Tax Tips, Small Business Tips, State Income Tax, Taxes and Tips, Tips And Overtime /

If your business has employees or uses independent contractors, you have associated annual information reporting obligations. The One Big Beautiful Bill Act (OBBBA) makes changes impacting these rules, but not for the 2025 tax year. Tips and overtime income For 2025 through 2028, the OBBBA creates new deductions for employees who receive qualified tips income

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New law eases the limitation on business interest expense deductions for 2025 and beyond

(ATI) Adjusted Taxable Income, Business Deductions, Business Income Tax, Business Interest Expenses, C Corporation, Limited Liability Company, One, Big, Beautiful Bill Act, Partnerships, Pass Through Taxation, S Corporation, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips /

Interest paid or accrued by a business is generally deductible for federal tax purposes. But limitations apply. Now some changes under the One Big Beautiful Bill Act (OBBBA) will result in larger deductions for affected taxpayers. Limitation basics The deduction for business interest expense for a particular tax year is generally limited to 30% of

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6 last-minute tax tips for businesses

Pass Through Taxation, Small Business, Small Business Owners, Small Business Tax Tips, Tax Planning /

Year-round tax planning generally produces the best results, but there are some steps you can still take in December to lower your 2025 taxes. Here are six to consider: 1. Postpone invoicing. If your business uses the cash method of accounting and it would benefit from deferring income to next year, wait until early 2026 to

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How will taxes affect your merger or acquisition?

(LTCG) Net Long-Term Capital Gain, Asset Sale of Business, C Corporation, Federal Income Tax, Federal Taxes, Limited Liability Company, One, Big, Beautiful Bill Act, Past-Through Entities, Sale of Business Assets, Small Business, Small Business Owners, Small Business Stock, Small Business Tax Tips, Small Business Tips, Sole Proprietors, Stock Sale of Business /

Whether you’re selling your business or acquiring another company, the tax consequences can have a major impact on the transaction’s success or failure. So if you’re thinking about a merger or acquisition, you need to consider the potential tax impact. Asset sale or stock sale? From a tax standpoint, a transaction can basically be structured

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Should your business maximize deductions for real estate improvements now or spread them out?

Depreciable Business Equipment, Depreciation, One, Big, Beautiful Bill Act, Qualified Improvement Property (QIP), Real Estate, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips /

Commercial real estate usually must be depreciated over 39 years. But certain real estate improvements — specifically, qualified improvement property (QIP) — are eligible for accelerated depreciation and can even be fully deducted immediately. While maximizing first-year depreciation is often beneficial, it’s not always the best tax move. QIP defined QIP includes any improvement to an

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