Tax, Accounting, and Business Insights

Unlocking Innovation: How “The One, Big, Beautiful Bill” Could Transform R&E Expense Deductibility The way U.S. businesses deduct research and experimental (R&E) expenses may soon change — and significantly for the better. A new legislative proposal known as The One, Big, Beautiful Bill aims to roll back recent tax law changes that have made R&E

A sweeping piece of legislation in Congress — officially dubbed the One Big Beautiful Bill — could dramatically reshape several federal business tax breaks. While still under debate, the One Big Beautiful Bill is already generating buzz across business communities for its potential to deliver meaningful tax relief. Here’s a breakdown of five key tax

Summer is here, which means it’s vacation time! If you’re a business owner, you have a golden opportunity to combine a business trip with a few extra days of vacation and offset some of the cost with a tax deduction. But be careful, or you might not qualify for the business travel expense write-offs you’re expecting.

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

As a business owner, you should be aware that you can save family income and payroll taxes by hiring your child.

There’s no easy way to determine reasonable compensation. Here are some steps you can take to make it more likely that the compensation you earn will be considered “reasonable.”

Looking to raise capital for your small business? There are several ways to seek funding, each with its own set of advantages and challenges. In this article, we’ll explore common methods for how to raise capital for a small business.

For federal income tax purposes, the general rule is that rental real estate losses are considered passive activity losses (PALs). Generally, individual taxpayers can only deduct PALs to the extent they have passive income from other sources. For instance, if you earn positive taxable income from other rental properties, that income typically counts as passive

In the wake of the severe storms, tornadoes, and flooding that struck Arkansas in early April, both the IRS and the State of Arkansas have announced significant tax relief measures for affected individuals and businesses. Federal Tax Relief: Extended Deadlines for All Arkansas Counties The IRS is providing automatic tax relief to all 75 Arkansas

One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also that you pay them over to the federal government on time.

Natural disasters — like wildfires and tornadoes— can wreak havoc at any time. Last May was a particularly active tornado season across the United States, including at least six tornadoes and straightline winds that devastated multiple counties in Arkansas. Just last month, South Carolina saw a 2,000+ acre wildfire break out near neighbors close to Myrtle Beach, and no one can forget the shocking images of the Eaton County, California wildfires just a few months ago. No matter where you live, it’s important to be prepared in the event of an evacuation with little notice.

Besides necessities like clothing, medication, and toiletries, you should ensure that part of your emergency plan includes important documents for all family members in an easily accessible place. Below, we’ll be covering 18 essential documents to include in your emergency plan.

Payroll tax compliance is crucial for small businesses. Mistakes can lead to fines, strained employee relationships and even legal consequences. Below are six quick tips to help you stay on track. 1. Maintain organized records Accurate recordkeeping is the backbone of payroll tax compliance. Track the hours worked, wages paid and all taxes withheld. Organizing