While the vast majority of taxpayers default to a December 31 closing date to align with the standard calendar, this “one-size-fits-all” approach may actually hinder your financial clarity. For companies with distinct seasonal peaks or complex inventory cycles, adopting a fiscal year-end can streamline accounting procedures and provide a more accurate snapshot of annual performance.

Many business owners overlook a key structural decision that can have significant legal, tax, and estate planning implications: whether to separate their operating business from the real estate it uses. Holding property in a separate entity is a common strategy that can provide valuable protection and flexibility—but it’s not without complexity. Asset protection and estate […]

Recent legislation has shortened the timeline for several popular clean energy tax incentives, making now a critical time to review your eligibility. If you purchased an electric vehicle or made energy-efficient home improvements in 2025, you may still qualify for valuable tax credits on your upcoming return—but the window to benefit from these breaks is […]

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 […]