General Tax

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A Tax-Focused Walk-Through of the One Big Beautiful Bill Act

July 24, 2025

The One Big Beautiful Bill Act overhauls the tax code, locking in many 2017 cuts and unveiling new relief for workers, families, and businesses. Read our article for an overview of new rules created by the Act, in addition to extensions or enhancements of existing provisions.

OBBBA Tax Provisions

July 24, 2025

The One, Big, Beautiful Bill Act (OBBBA) includes a number of favorable changes that will affect small business taxpayers, and some unfavorable changes too. Find out which OBBBA tax provisions apply to your business.

Protect Your Business Expense Deductions

July 21, 2025

If you’re claiming deductions for business meals or vehicle expenses, there are strict substantiation rules that must be followed to protect your business expense deductions.

Start Up Costs and Taxes

July 17, 2025

Before you open for business, learn how startup costs are handled on a federal tax return.

Minnesota Property Tax Refund for Homeowners and Renters

July 9, 2025

Homeowners and renters in Minnesota may qualify for a valuable tax refund - either the Minnesota Property Tax Refund or Renter's Rebate. Read more to find out if you qualify for either of these programs

Protecting Retirement Accounts During Market Volatility

June 4, 2025

Market volatility and swings can be unsettling, but they don’t have to weaken your retirement plan. Learn how a strategic blend of short-, mid-, and long-term investments, plus flexible withdrawal methods, can build financial resilience.

Summer Business Trip Deductions

June 2, 2025

If you or your employees are heading out of town on a business trip this summer, it’s important to understand the travel deduction tax rules. To qualify, the trip must be necessary for business purposes and require an overnight stay within the U.S.

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.

Check Your Withholding to Avoid Tax Surprises

May 28, 2025

Think your tax refund is just "extra money"? It might actually be a sign that your withholding is off, and that the IRS has been holding your money all year. Learn how to fix that now, so you’re not stuck with a surprise bill (or a missed opportunity) next April.

Employee Educational Assistance Plan

May 22, 2025

A Section 127 educational assistance plan can be a smart investment for your business. With this tax-favored benefit, employees can finish degrees, pursue graduate study and even pay off student loan debt.

Hire Your Child and Save Some Taxes

April 14, 2025

If you own a small business it may pay to hire your child. In addition to tax savings, you also may be able to achieve Social Security tax savings (if your business isn’t incorporated) and your child may even be able to make retirement plan contributions.

Tax Obligations for Household Employees

April 7, 2025

Hiring nannies or housekeepers brings convenience but also labels you as an employer with household employees. As an employer. you have additional tax obligations and need to stay compliant in classifying workers correctly and navigating Social Security and unemployment taxes.

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.

IRS Appraisal Rules for Donating Non-Cash Assets

March 28, 2025

Looking to donate or gift non-cash assets? Don't do it without understanding the IRS appraisal rules first. Not following the rules could have unexpected tax complications in spite of your generosity.

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.