The One Big Beautiful Bill Act (OBBA) created Trump Accounts (TAs) a new tax-advantaged way to help children build up savings for the future. Under a pilot program, you can make an election to set up a TA for your U.S. citizen child born in 2025 through 2028 and the federal government will fund the […]

If you’re a small business owner or are self-employed and don’t yet have a tax-advantaged retirement plan, consider setting one up before you file your 2025 tax return. If you choose a Simplified Employee Pension (SEP), you’ll be able make deductible 2025 contributions to it, saving you taxes. Not only is the SEP deadline favorable, […]

Payroll fraud is a serious risk for businesses of all sizes, and its impact can be especially severe for small organizations. Understanding where these risks arise – and how to address them – is a critical first step in protecting your payroll process. According to the Association of Certified Fraud Examiners (ACFE), the median loss […]

The IRS opened the filing season for 2025 individual income tax returns on January 26, roughly the same timeframe as last year. This comes even as the agency continues to operate with reduced staffing levels. Below are answers to some common questions individuals may have as they prepare to file. When is my 2025 return […]

How often do you search your business online to monitor what’s being said about your company? Checking often can help you identify negative coverage early, address inaccuracies, and respond to misleading or false information before it causes harm. Investors, lenders, customers, vendors, and potential business partners frequently search a company’s online presence before deciding if […]

If you experienced high medical costs last year, you may be wondering which expenses can be deducted on your 2025 income tax return. While income limits and other rules can make medical deductions confusing, many taxpayers are surprised to learn that more medical expenses may qualify than they realize. Understanding what counts could help you […]

Is your business structured as a partnership, an LLC taxed as a partnership, or an S corporation? These business types fall under the category of “pass-through” entities, meaning the business itself doesn’t pay federal income tax. Understanding how pass-through taxation works is essential to staying compliant and making smart tax decisions. Here are a few […]

Implementing a mobile phone program seems like a straightforward way to keep your team connected, but the “hidden” costs—ranging from tax liabilities to data breaches—can be significant. Whether you provide company-owned hardware or utilize a Bring Your Own Device (BYOD) model, the way you structure your policy dictates your exposure to cyberthreats and tax audits.

For millions of Americans, a natural disaster brings both emotional and financial devastation. While insurance is the first line of defense, the federal tax code offers a “safety net” through the personal casualty loss deduction. However, for your 2025 return (due this April), the IRS still generally limits these claims to federally declared disasters. The […]

Many self-employed individuals assume that any purchase made for their work is an automatic tax deduction, but the reality is far more nuanced. As we approach the April 2026 filing deadline, it is critical to remember that the IRS defines “business use” through a very specific lens: the expense must be common for your industry […]