Tax, Accounting, and Business Insights

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

Understanding Qualified Improvement Property (QIP) Commercial real estate is typically depreciated over 39 years under standard IRS guidelines, but certain improvements—known as qualified improvement property (QIP)—may qualify for accelerated depreciation or immediate expensing. While maximizing first-year deductions can provide a significant tax benefit, doing so isn’t always the most strategic move. What Is QIP? QIP

A recent executive order has set the stage for all federal payments and disbursements to transition fully to electronic delivery. If you currently make or receive any federal payments, including federal tax return refunds and payments, Social Security payments, benefits payments, and vendor payments, you’ll soon be required to make/receive those payments via electronic funds transfer (EFT) methods like direct deposit, debit/credit card payments, digital wallets or a government-issued debit card.

The One Big Beautiful Bill Act (OBBBA) — signed into law on July 4, 2025 — extends or strengthens many business tax benefits. However, it also accelerates the phase-out of several clean energy tax incentives that businesses rely on.

A new 2022 per diem rate became effective October 1. Taxpayers can use these rates to substantiate expenses when traveling away from home.

Can You Claim a Business Bad Debt Deduction on Your 2025 Tax Return? If your business has unpaid customer invoices that you can’t collect, you may qualify for a business bad debt deduction on your 2025 income tax return. However, this deduction isn’t automatic — you’ll need to prove the debt is worthless and meet

To charge or not to charge… sales tax on digital goods: that is the question. While Shakespeare could likely never have conceived the concept of digital goods or products, we in the 21st century know our way around the internet.

But as a business owner, you may have questions about whether or not to charge sales tax on digital goods. After all, isn’t sales tax only charged for tangible personal property? A great question—let’s dig in.

Your construction company needs new equipment. Should you buy or should you lease? While we can’t offer a concrete answer without knowing the complexities of your particular construction business, we can share an overview of the benefits for leasing equipment vs. buying.

As a small business owner, you’re familiar with basic employee benefits, like retirement planning, health insurance, and paid time off, but why stop there? Offering additional employee benefits can help to make for happier team members and, ultimately, less turnover.

After all, employee attrition isn’t just a headache, it comes with real dollar loss. Estimates put the cost of hiring new employees at three to four times the position’s annual salary. Increasing your investment in employee benefit plans can potentially help to save money in the long term.

Below are 10 employee benefit examples you can consider adding to your employee benefit package to help your small business attract and retain top talent.

A New Era for Charitable Giving On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, ushering in sweeping tax reforms for individuals and businesses alike. Among the most impactful changes are those affecting charitable contribution deductions. Whether you itemize or take the standard deduction, these updates could significantly

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