When a customer files for Chapter 11, an open receivable stops being a routine collections matter and becomes a legal claim that must be actively managed. Whether your business recovers anything — and how much — depends on where your claim ranks in the bankruptcy proceedings, what the debtor’s assets look like, and how quickly […]
Author Archive: rudleradmin
The Tax Deductibility of Mortgage Points — What Homebuyers Need to Know
Homebuyers often focus on the mortgage interest and property tax deductions, but points paid at closing deserve attention too — and they’re frequently overlooked. Qualifying points paid on a loan to purchase or build your primary home are generally deductible as mortgage interest on your 2026 return, provided you itemize. The rules around timing, loan […]
The 2027 Social Security Wage Base Increase and What It Means for Your Business
The Social Security Administration has set the 2027 wage base at $192,300 — up from $184,500 in 2026 — meaning employer payroll costs will rise for any employee earning above last year’s threshold. For businesses with higher-compensated staff, that’s a real budget line item worth quantifying before January 1. Wages and self-employment income above the […]
2026 Year End Reporting of Fringe Benefits for S Corporation Shareholders
As 2026 quickly comes to a close, and you begin making plans for the holiday season, we want to take a chance to remind S Corporation shareholders to include planning for the required tax reporting and withholding requirements for health insurance premiums paid by an S Corporation on behalf of more than 2 percent shareholder-employees.
2026 Reporting of Personal Use of Automobiles
As the end of the year fast approaches, we want to remind you of the tax reporting required for personal use of company provided vehicles. Law Fringe benefits provided to an employee are taxable to the employee and must be reported in his/her income unless the law specifically excludes the benefit. This rule includes the […]
How the Accounting Cycle Works — and Why It Matters to Your Bottom Line
Behind every reliable set of financial statements is a disciplined process for capturing, organizing, and reconciling the transactions that drive your business. That process — the accounting cycle — is what transforms daily activity into the accurate data you need to understand where your business stands, spot cash flow problems early, and make informed decisions. […]
Maximizing Your 401(k) Before December 31
With the end of the year approaching, there’s still time to make a meaningful move on your tax bill — and your retirement savings — in one step. Increasing your 401(k) contributions before December 31 can reduce your taxable income for 2026, and for those not yet contributing, starting now still counts. Whether you’re looking […]
Updated Federal Per Diem Rates Take Effect for FY2027
If your business reimburses employees for travel, the IRS has released updated per diem rates you’ll want to apply. Under Notice 2026-60, new rates are in effect for the federal fiscal year running October 1, 2026 through September 30, 2027. These rates can be used to substantiate lodging, meals, and incidental expenses for domestic business […]
Kentucky Small Business Tax Credit Application Due November 1, 2026
The Kentucky Small Business Tax Credit (KSBTC) is designed to reward small businesses for doing what successful companies do — grow. The program provides state income tax credits to eligible employers who hire new employees and invest in equipment or technology. For 2026, Kentucky is requesting that applications be submitted by November 1, 2026 to […]
Is Your Remote Workforce Legally Compliant? The Truth About 1099 Status
In an era dominated by remote teams and flexible project work, many leaders mistakenly assume that off-site workers automatically qualify as independent contractors. The IRS and state regulatory bodies look far beyond geographic location and written agreements, focusing instead on the actual degree of direction and financial integration in your daily operations. A single misstep […]