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Small Business

To maximize — or not to maximize — depreciation deductions on your 2025 tax return

Depreciation, Depreciation Deduction (Section 179), One, Big, Beautiful Bill Act, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips /

The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed by December 31 of the tax year, there are some decisions you can make when filing your return that can save taxes now or in the future. One such decision is whether to claim accelerated depreciation […]

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

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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Increase your current business deductions under tangible property safe harbors

2025 Tax Return, Depreciable Business Equipment, Section 179, Small Business, Small Business Owners, Small Business Tips, Tangible Property Deductions, Tax Return /

Did your business make repairs to tangible property, such as buildings, equipment or vehicles, in 2025? Such costs may be fully deductible on your 2025 income tax return — if they weren’t actually for “improvements” that must be depreciated over a period of years. Betterment, restoration or adaptation In general, a cost that results in

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Advisory boards provide family businesses with independent perspectives

Family Business, Small Business, Small Business Owners, Small Business Tips /

Does your family business keep its strategic decisions within the family? It’s common for family businesses to assign relatives to positions of authority and require other employees to defer to them. But “common” doesn’t necessarily mean “good.” Not only is outside input recommended, but it can help reduce the risk of certain problems (such as

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

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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Is your business ready for the tax deadline that’s on Groundhog Day this year?

Employees, Independent Contractors, Small Business, Small Business Owners, Small Business Tips, Social Security, W-3 Transmittal Of Wage And Tax Statements, Wage and Tax Statement /

Normally businesses must furnish certain information returns to workers and submit them to the federal government by January 31. But this year, that date falls on a Saturday. So the deadline is the next business day, which happens to be Groundhog Day: February 2, 2026. W-2s for employees By February 2, employers must furnish and/or file these

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Consider these issues before providing (or reimbursing) mobile phones

Employees, Fringe Benefits For Employees, Small Business, Small Business Owners, Small Business Tips, Tax Rules For Work-Issued Phones /

For many employees, mobile phones are no longer a perk — they’re an essential business tool. However, issuing company phones or reimbursing employees for use of their personal devices can create hidden security risks, unexpected tax consequences and productivity concerns for business owners. Here are some key issues to consider before rolling out or revising

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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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What business owners should know about debt restructuring

Business Loans, Cash Flow, Small Business, Small Business Owners, Small Business Tips /

Debt is inevitable for most small and midsize businesses. Loans are commonly used to help fund a company’s launch, expansion, equipment purchases and cash flow. When problems arise, it’s generally not because debt exists; it’s because the terms of that debt no longer match the operational realities of the business. In such instances, debt restructuring

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