Could your dog or cat qualify as a business expense? In some cases, the answer is yes. The IRS allows deductions for animals that serve a legitimate role in a business—but the requirements are stricter than many people expect. Knowing the difference between a working animal and a household pet is essential to claiming these […]

Efficient, accurate billing is essential to maintaining strong financial performance. Billing errors or delays can result in lost revenue, cash-flow challenges and dissatisfied customers. If your company is experiencing billing issues — or if you have not reviewed your billing function in some time — this may be an ideal time to review your processes […]

You likely know your 2025 federal income tax return is due on April 15, 2026. But that date often applies to more than just filing your tax return. If you are not aware of the other April 15 deadlines, you could miss out on valuable tax-saving opportunities or potentially face interest and even penalties. Making […]

Many employers offer health care and dependent care flexible spending accounts (FSAs) as part of their employee benefits package. These plans can deliver meaningful tax savings for employees and payroll tax savings for employers. If your company’s FSA operates a calendar-year basis and includes a 2½-month grace period, employees have until March 15, 2026 to […]

Thinking about putting your business on the market? You can count on serious buyers to dig deep into your financials, operations, assets and legal agreements. The question is: will they find any red flags? Conducting presale financial due diligence puts you in control of the process. With the help of trusted financial and legal advisors, […]

Most personal interest payments won’t lower your federal tax bill — but there are important exceptions that could put money back in your pocket. In fact, there are four types of interest that may still be deductible, including a brand-new opportunity created under the One Big Beautiful Bill Act (OBBBA), signed into law in 2025. […]

If you used a vehicle for business in 2025, you could be sitting on significant tax savings — but only if you claim them correctly. From fuel and maintenance to depreciation, the IRS allows valuable deductions for business vehicle use. The catch? The rules are complex. Your deduction depends on key factors like the vehicle’s […]

Some customers naturally require more time and resources than others. But when certain relationships consistently consume more of your and your employees’ time than they generate in profit, it may be time to reassess. Taking a closer look at customer level profitability can help you understand where resources are going and ensure that high value […]

Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax credits, because they reduce your tax liability dollar for dollar (unlike deductions, which only reduce the amount of income subject to tax). Here’s what you need to know. Child, […]

An advance payment is one received by a business before it provides whatever is being paid for. For federal income tax purposes, generally advance payments must be reported as taxable income in the year received. This treatment always applies if your business uses the cash method of accounting for tax purposes. But, if your business […]