Tax, Accounting, and Business Insights

What Is Section 25F? Section 25F of the Internal Revenue Code, enacted under the One, Big, Beautiful Bill Act (OBBBA), introduces a groundbreaking federal tax credit designed to encourage private funding for K-12 scholarships. This initiative aims to expand educational opportunities for students from low- and middle-income families. How Does the Tax Credit Work? Starting

A new year means updated numbers for your tax strategy. Understanding the 2026 business tax figures is crucial for accurate planning and compliance. Below is a clear breakdown of key limits and thresholds that affect businesses this year. Depreciation-Related Tax Breaks Bonus depreciation: 100% Section 179 expensing limit: $2.56 million Section 179 phaseout threshold: $4.09

If your business employs workers or pays independent contractors, annual information reporting is unavoidable. The One Big Beautiful Bill Act (OBBBA) introduces new deductions and compliance considerations that directly affect OBBBA employer reporting—but not all changes take effect immediately. Knowing what applies for the 2025 tax year versus what’s coming in 2026 and beyond is

Now is the time to review annual payroll reporting requirements. In this post, we’ll cover 1099 reporting and fringe benefits.

Who gets a 1099? As you begin tax season prep, you likely already know that you’ll need to issue 1099s to independent contractors. However, there are a few other professionals and entities that also get a 1099 that you may not know about.

Don’t let the holiday season keep you from taking important steps to reduce your small business taxes in 2021. Here are 3 tips.

Included within the One Big Beautiful Bill Act (OBBBA) of 2025 is a provision for new Trump Accounts. You may have heard these referred to as “Trump baby savings accounts.” These are long-term savings accounts for minor children that function similarly to a traditional IRA, with some differences until the child turns 18 years old.

We’ll cover common questions below, including how to open a Trump account.

If you are considering buying or selling a business, it’s important to understand the tax implications.

A New Era for Charitable Giving The One Big Beautiful Bill Act (OBBBA) brings significant changes to charitable deduction rules for individuals, effective January 1, 2026. Whether you itemize or take the standard deduction, these updates may impact your giving strategy and tax planning. Here’s what you need to know—and how to maximize your benefits.

The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, included tax changes that may impact your personal taxes.

Thoughtful business gifts can strengthen relationships with customers, prospects, and employees. But when it comes to deducting those gifts, the IRS has strict rules — including the long-standing $25 business gift tax deduction limit per person per year, unchanged since 1962. Still, with smart planning and clear documentation, you can maximize the tax benefits connected

As the year winds down, now is the perfect time to review your business expenses for deductibility. Accelerating deductible business expenses into this year can reduce your 2025 taxes — and, in some cases, provide permanent tax savings. This year’s year-end tax planning is especially important in light of the One Big Beautiful Bill Act