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OBBBA Tax Provisions

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.
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Zero-Interest Environmental Loans

The Minnesota Pollution Control Agency (MPCA) offers zero-interest direct loans to small businesses who are considering an equipment upgrade, site cleanup, or other environmentally beneficial project.
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Wisconsin Act 15: Major Property Tax Relief for Telecom Towers Starting 2026

Wisconsin Senate Bill 45 was signed into law as Wisconsin Act 15 earlier this month and includes a new state law regarding property taxation of telecom towers. The new law affects telecommunications/broadband operators in Wisconsin.
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Protect Your Business Expense Deductions

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.
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Reasonable Compensation and the IRS

Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, it may disallow certain deductions or reclassify payments, potentially leading to penalties, back taxes and interest.
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How to Correctly Hire Independent Contractors

Misclassifying employees as independent contractors can result in expensive consequences if the IRS reclassifies them. But determining if a worker is a contractor or an employee can be complex.
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Summer Business Trip Deductions

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.
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Small Business May Consider a SEP or SIMPLE Retirement Plan

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.
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Can You Turn a Business Loss Into Tax Relief?

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.
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100% Penalty for Small Businesses

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.
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Payroll Tax Compliance Tips for Businesses

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.
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Business Succession Options and Tax Implications

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.
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Corporate Transparency Act (CTA) Reporting Suspended

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.
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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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Managing Payroll Taxes

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.
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