IRS Expands Theft and Fraud Loss Deductions
The Tax Cuts and Jobs Act (TCJA) significantly restricted the types of theft losses that can be deducted on federal income tax returns. However, a ...
Turning Market Losses into Tax Opportunities
Have you ever invested in a company only to see its stock value plummet? (This may become relevant in light of recent market volatility.) While such ...
Payroll Tax Pitfalls: 6 Things Small Businesses Should Know
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships, and even legal ...
Small Business Alert: The 100% Penalty That Hits Hard
Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld from ...
Can I Itemize Deductions on My Tax Return?
You may wonder if you can claim itemized deductions on your tax return. Perhaps you made charitable contributions and were told in the past they ...
A Heavy Vehicle Plus a Home Office Equals Tax Savings
New and used “heavy” SUVs, pickups and vans placed in service in 2025 are potentially eligible for significant first-year depreciation write-offs. ...
5 Compelling Reasons to Outsource Your Bookkeeping
Running a closely held business is challenging. Owners usually prioritize core business operations — such as managing employees, serving customers ...
What's Next? Tax Impacts of the 2024 Election
President-Elect Donald Trump will return to the White House in 2025 — a year that already was expected to see significant activity on the federal tax ...
1099 Filing Season: Are You Ready?
As the year winds down, the clock begins ticking for tax season—and 1099 filing is a key priority. For businesses that work with independent ...