8 Red Flags that Could Trigger an IRS Audit
Keeping up with ever-evolving tax laws can be challenging for individuals and small business owners. Because the IRS continuously refines its systems for detecting errors and inconsistencies, it's important to understand potential audit triggers — and how to avoid them. […]
Read More Don’t Let Quarterly Estimated Tax Payment Obligations Catch You Off Guard
If you're self-employed, run your own small business, or have rental or investment income, there's a good chance you must make quarterly estimated tax payments. These payments include income tax and, if applicable, self-employment tax. Failing to make them — […]
Read More EV Buyers, Beware! House GOP Bill Ends Clean Vehicle Tax Credits After 2025
The U.S. House of Representatives has passed its budget reconciliation bill, dubbed The One, Big, Beautiful Bill. Among other things, the sweeping bill would eliminate clean vehicle credits by the end of 2025 in most cases. If you’ve been pondering […]
Read More The House Passes The One, Big, Beautiful Bill Act: An Overview of Its Tax Provisions
The U.S. House of Representatives passed its sweeping tax and spending bill, dubbed The One, Big, Beautiful Bill Act (OBBBA), by a vote of 215 to 214. The bill includes extensions of many provisions of the Tax Cuts and Jobs […]
Read More Business Valuation Plays a Critical Role in Buy-Sell Agreements
Whether your company is a family-run operation, a partnership among friends or a multi-owner enterprise, a buy-sell agreement helps protect it in potentially disruptive “what if” scenarios, including death, disability, divorce, disputes or simply a change of heart. These events […]
Read More Federal Tax News for Individuals
Investing in a home brings tax benefits Purchasing a home is the most significant investment most people will make. Owning your home comes with valuable tax advantages that can reduce your annual tax bill. One of the primary benefits is […]
Read More Closing Time: Mastering Your Monthly Close with QuickBooks
The month-end close is a pain point for many small to midsize businesses. While internal accounting teams often aim to wrap up the close within three days, a recent survey found that half the respondents actually take six days or […]
Read More 2 Financial Planning Tools That Can Help Manufacturers Weather Uncertainty
Manufacturers are facing uncertainty on a variety of fronts. Rapidly shifting tariff policies, supply chain disruptions, fluctuating demand and rising raw material costs are likely among the factors creating shaky ground for your business. But two proven financial planning tools […]
Read More Emerging Tax and Regulations Alert for May
IRS clarifies theft and fraud loss deductions The Tax Cuts and Jobs Act (TCJA) significantly limited the types of theft losses that are deductible on federal income taxes. But a recent “advice memo” (CCA 202511015) from the IRS’s Office of […]
Read More Federal Tax News for Individuals
Need to file an amended return? You filed your tax return and breathed a sigh of relief. Then you realize that you forgot to include something important. In general, you can file an amended return and claim a refund within […]
Read More Small Business Owners: Beware of Common Payroll Blunders
Managing payroll can be a major challenge for small business owners, especially as state and federal payroll tax regulations continue to evolve. Missteps in this area aren't just minor hiccups — they can lead to significant financial penalties and operational […]
Read More Gift Wrap Your 2025 RMDs to Charity
If you've reached the age where you must take required minimum distributions (RMDs) from your IRAs and don't need the extra income, making qualified charitable distributions (QCDs) might be a tax-smart move. Briefly stated, this special tax provision allows an […]
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