General Tax

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Home Office Tax Deductions

As a business owner, you may be eligible to claim home office tax deductions that will reduce your taxable income. However, it’s crucial to understand the IRS rules to ensure compliance and avoid potential IRS audit risks.
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Tipped Employees and Tax Compliance

You may have heard about proposals to end taxes on tips. If you’re a business with tipped employees, you are required to adhere to a number of regulations and laws.
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The Sunset of Current Tax Laws with Scott Hoyles and Joe Mayer

Podcast: Join us on this episode of Q&A Over Coffee as we sit down with Tax Principals Scott Hoyles and Joe Mayer to talk about a pressing topic for 2025 – the upcoming sunset of the Tax Cuts and Jobs Act (TCJA).
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Increased Business Tax Limits for 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.
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W-2 and 1099-NEC Deadlines

The deadline is almost here for businesses to submit certain information returns to the government and furnish them to workers. By Jan. 31, 2025, employers must file Forms W-2 that show the wages paid and taxes withheld for 2024 for each employee.
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Online Shopping Safety Tips

Cybercriminals are constantly trying to trick online shoppers to access personal information. Following some easy but essential tips may help safeguard your next online shopping trip.
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Tax Treatment of Intangible Assets

Properly managing the tax treatment of intangible assets is vital for businesses to maximize tax benefits and ensure compliance with tax regulations.
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Self-Employment Tax Refresher

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.
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2025 Standard Mileage Rate

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.
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Decoding Income Definitions: AGI, MAGI, and Taxable Income

Navigating the U.S. tax system can be complex, particularly when understanding income definitions like Adjusted Gross Income (AGI), Modified Adjusted Gross Income (MAGI), and Taxable Income. These definitions impact your tax liability and eligibility for various deductions and credits.
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New Form 1099-K Threshold

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.
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Travel Expenses Deduction

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!
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Should You Lease or Buy Your Next Business Vehicle?

Are you a business owner considering acquiring a vehicle and don't know if you want to lease or buy? Uncover the hidden costs and benefits of leasing and buying, and find out which one is right for your business.
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Business-Related Meal and Entertainment Expense Deductions

Business-related meal deductions can be valuable, but the rules can be complex. Under current law, your business can’t deduct most entertainment expenses.
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Maximize Real Estate Returns with a Cost Segregation Study

Want to make your real estate work harder for your financial goals? Explore the benefits of a cost segregation study; a tax strategy that can accelerate depreciation deductions and increase short-term cash flow.
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