Construction and Real Estate

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Small Business May Consider a SEP or SIMPLE Retirement Plan

May 30, 2025

As a small business owner, you might hesitate to establish a retirement plan due to the administrative complexities involved. However, there are two retirement plans worth considering that come with fewer requirements than traditional qualified retirement plans.

Can You Turn a Business Loss Into Tax Relief?

May 28, 2025

Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. In some cases a business loss, within limits, may be used to reduce taxable income in later years.

100% Penalty for Small Businesses

May 19, 2025

Unpaid taxes withheld from your company’s employees might hit you harder than you think. Find out how the 100% penalty can affect your personal finances.

Rental Real Estate Losses

May 13, 2025

Real estate professionals can use an exception when deducting rental real estate losses, as long as certain requirements are met.

Payroll Tax Compliance Tips for Businesses

April 2, 2025

Payroll tax compliance is crucial for small businesses. Mistakes can lead to fines, strained employee relationships, and even legal consequences. This article has tips to help you stay on track.

1031 Exchange: What Qualifies and Where Investors Get Tripped Up

March 26, 2025

Discover how 1031 exchanges can be a game-changer for real estate investors, offering a strategy to defer capital gains taxes while reinvesting in like-kind properties. This guide dives into the mechanics, eligibility, and potential pitfalls of executing a successful 1031 exchange.

Business Succession Options and Tax Implications

March 20, 2025

When it’s time to consider your company's future, business succession planning can protect your legacy and successfully set up the next generation of leaders or owners. Business succession options have tax implications. Read to learn more.

Property Upgrades – Repairs vs. Improvements

March 14, 2025

Navigating the fine line between repairs and improvements on your property upgrades can significantly impact your tax liabilities. Discover how the IRS classifies these expenses, explore key safe harbors, and learn strategies to maximize your tax benefits.

Corporate Transparency Act (CTA) Reporting Suspended

March 6, 2025

The Treasury Department has suspended the CTA filing requirement for U.S. businesses, signaling a major shift in compliance obligations. While the rule may still face legal challenges, domestic companies are no longer required to report beneficial ownership information—at least for now.

Increased Business Tax Limits for 2025

February 4, 2025

For 2025, inflation-adjusted changes were made to certain business tax limits. Here’s how much employees can contribute to their 401(k)s and FSAs this year, as well as other important business tax amounts.

Managing Payroll Taxes

January 30, 2025

Navigating the complexities of payroll taxes is a daunting task for small business owners. Learn how you can streamline your payroll processes by developing strategies to ensure compliance, avoid penalties and maintain employee trust so you can continue to focus on growing your enterprise.

Self-Employment Tax Refresher

January 20, 2025

You’re probably familiar with the self-employment tax if you own a business. Here’s a refresher on how it works, how it will increase and whether there’s anything you can do to reduce it.

2025 Standard Mileage Rate

January 20, 2025

The standard mileage rate is adjusted annually and calculated based on driving costs, including the price of gas. The IRS announced that the 2025 cents-per-mile rate for the business use of a car, van, pickup or panel truck is 70 cents.

New Form 1099-K Threshold

January 9, 2025

Significant changes to the IRS's 1099-K reporting thresholds are in effect and affect anyone who uses payment apps or online marketplaces. Find out what these updates mean for you and how to navigate the new requirements.

Travel Expenses Deduction

January 8, 2025

If you’re a small business owner, you want to take full advantage of travel expenses deductions that are allowed for business travel. They can reduce your taxable income. Safe travels and happy deducting!