Sales tax laws are subject to each state Each state passes its own sales tax laws. It’s important to note that sales tax policy and changes in the online space don’t exactly keep pace with one another. (Let’s just say that in a race, tax policy is the tortoise and the internet is the hare.) … Read more
Tax Benefits of Buying Construction Equipment There are several tax and business benefits to buying construction equipment. Section 179 Tax Deduction Section 179 is a tax deduction that allows businesses to deduct property, like construction equipment, as one sum in a tax year, rather than depreciating the cost of the asset over several years. That … Read more
10 Employee Benefit Examples Beyond traditional employee benefits, there are other incentives, known as “fringe benefits,” you can offer employees, ranging from wellness to childcare benefits. We’ve covered a few of these employee benefits below. Wellness benefits Gym memberships Mental health counseling Dietician/nutrition services Childcare benefits Stipends related to daycare or afterschool care Dependent Care … Read more
On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law. Among the many tax changes, the OBBBA personal interest deductions stand out because they affect both homeowners and car buyers. The Act makes permanent modifications to the home mortgage interest deduction and introduces a new, temporary deduction for qualified … Read more
On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, introducing sweeping changes to the U.S. tax code. Among its many provisions, OBBBA significantly impacts employee benefits, offering new incentives and expanding existing ones for both employers and employees. Overview of the One Big Beautiful Bill Act (OBBBA) OBBBA is a … Read more
On July 4, 2025, the One Big Beautiful Bill (OBBB) Act became law, bringing several tax changes that will affect individual taxpayers. One of the biggest changes impacts how you can deduct gambling losses on your tax return. Let’s break down what’s changing, why it matters, and how it could leave you with a tax … Read more
The One, Big Beautiful Bill Act (OBBBA) includes a significant update to IRS 1099 reporting rules that will benefit millions of small businesses. Starting with payments made in 2026, the law increases the 1099 reporting threshold from $600 to $2,000. This long-awaited change brings relief to small business owners and better reflects today’s economic realities. … Read more
The Qualified Business Income (QBI) deduction, introduced in 2018, has been a major tax benefit for owners of pass-through entities. It allows eligible taxpayers to deduct up to 20% of QBI, subject to certain limitations. Originally set to expire after 2025, the One, Big, Beautiful Bill Act (OBBBA) has now made the QBI deduction permanent, … Read more
The One Big Beautiful Bill Act (OBBBA) includes a number of favorable changes that will benefit small business taxpayers. At the top of the list is the return of 100% bonus depreciation in 2025—a major incentive for those planning to invest in business equipment, technology, and certain real estate improvements. 100% Bonus Depreciation is Back … Read more
Small Business Tax Law Changes 2025: What You Need to Know The One, Big, Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, introduces sweeping tax changes that will significantly impact small business taxpayers—some favorable, others not. Here’s a quick summary of the key provisions you need to know as you plan ahead. … Read more
