General Tax

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Research Credit FAQs

The research credit isn’t just for labs or tech companies. Many businesses are missing out because they mistakenly assume they don’t qualify, or aren’t sure where to start. Learn how the credit works and what to consider.
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Should You Consider Adopting a Fiscal Year End?

Most businesses use December 31 as the end of their fiscal year. But some companies in construction, accounting, and snowplowing operations, for example, may have valid reasons for adopting fiscal year ends. Aligning your tax year with your operating cycle can streamline reporting and support better planning.
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Qualified Overtime Compensation Deduction

The IRS has issued guidance for the qualified overtime compensation deduction, effective for tax years 2025 through 2028. Eligible workers must meet specific eligibility requirements, including valid Social Security numbers and certain filing status conditions.
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Strategic Moves for Building a Financial Foundation for Kids

For many parents, providing financial security for their children is a top priority. But building a financial foundation for kids involves more than funding college or opening a savings account.
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An HSA is a Long-Term Healthcare Reserve

Most people use their HSA like a medical debit card, but the account is capable of much more. With a rare triple tax advantage and flexible reimbursement rules, the HSA can serve as a powerful long-term healthcare reserve. Read on to learn how to make the most of it.
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Electronic Payments Update – IMPORTANT

The United States federal government is advancing the transition to fully electronic payments to and from the IRS. The transition to electronic payments started on September 30, 2025.
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Small Business Health Care Coverage Credit

Tax credits reduce tax liability dollar-for-dollar and can be more valuable than deductions, which reduce only the amount of income subject to tax. One tax credit that may be valuable is the small business health care coverage credit for small businesses who provide health insurance coverage to employees.
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Forms W-2 and 1099-NEC Due February 2, 2026

Forms W-2 and 1099-NEC normally must be filed by January 31 of the following year. But, in 2026, January 31 falls on a Saturday, so the due date has been moved to February 2.
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Energy Tax Incentives to Expire

The Sec. 179D deduction for energy-efficient commercial building improvements provides energy tax incentives to businesses, including manufacturers, to immediately write off the cost of eligible improvements, will expire June 30, 2026.
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Tax Deductible Business Expenses

As you look back to 2025 to determine which expenses you can write off as tax deductible business expenses on your tax return, keep in mind the “ordinary and necessary” rule.
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2026 Standard Mileage Rate

The Internal Revenue Service announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents to 72.5 cents in 2026, while the mileage rate for vehicles used for medical purposes will decrease by half a cent, reflecting updated cost data and annual inflation adjustments.
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Preparing for a Successful Transaction with Quality of Earnings with Tony Oman and Brett Olsen

Podcast: Adam Hennen talks with audit partner Brett Olsen and Valuation Principal Tony Oman about Transaction Advisory Services and Quality of Earnings, breaking down how financial diligence, adjusted EBITDA, and working capital affect business sales and acquisitions.
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2026 Information Reporting Changes

If your business has employees or independent contractors, you’re subject to various information reporting requirements. Some significant changes to these rules will go into effect for the 2026 tax year (forms that will be filed in early 2027 to report 2026 amounts).
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Business Interest Expense Deduction Changes

The rules limiting the business interest expense deduction are complicated. Recent changes could result in larger deductions for 2025 and you need to be aware of the impact on your business.
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Six Last-Minute Tax Tips for Businesses

It is not too late to consider implementing some last-minute tax tips to reduce your business' 2025 tax bill.
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