As the economy adjusts with yearly inflation, many beneficial tax limits also adjust through annual indexing. Many of these increases are not as significant as in previous years, but here are some common items to be aware of as some have changed while others remain the same. 2025 deductions as compared with 2024 Section 179 […]

Every company values engaged employees, but is it possible for them to be too engaged? According to a 2024 survey of 3,000 employees by employee engagement consulting firm Perceptyx, 72% of workers continue working in some capacity during their vacations. While this might seem like a sign of commitment, the long-term effects can be detrimental […]

You’re probably more focused on your 2024 tax return right now than on your 2025 taxes, which makes sense since your 2024 individual return is due by April 15 (unless you file a 6-month extension for time to file). However, it’s a good idea to start learning about potential tax adjustments for 2025, especially due […]

From the inception of their companies, business owners are strongly advised to utilize key performance indicators (KPIs) to effectively monitor performance. This advice is well-founded, as overseeing business metrics can be akin to watching the gauges while driving a car – essential for maintaining optimal speed and knowing when maintenance is needed. Similarly, this approach […]

The IRS has announced that the 2025 filing season for individual income tax returns will begin on January 27. This date marks the start of the agency’s acceptance and processing of 2024 tax year returns. Even if you typically file closer to the mid-April deadline, or you file an extension, early submission is advisable this […]

The nationwide price of gasoline has experienced an increase compared to previous years. Therefore, the IRS has announced an adjustment to the optional standard mileage rate for 2025, which is used to determine the deductible cost for operating an automobile for business purposes. The new cents-per-mile rate has been set at 70 cents per mile.

The Kentucky Department of Revenue will soon launch a new tax portal for business tax filers called MyTaxes. The new tax portal is projected to be available on March 14, 2025. If you have a Onestop account you should have received an email about the Onestop being replaced by MyTaxes on March 14, 2025. Here […]

With tight budgets and fierce competition, small and mid-sized businesses need to be strategic about their marketing efforts. Here are three key strategies to get the most out of your marketing investment. While large companies may have vast resources, smaller businesses must maximize their spending, achieving impactful campaigns while keeping costs under control. 1. Set […]

Turning 73 soon? That seems like an oddly specific age, but turning 73 means new rules and regulations regarding your retirement accounts. To guide you through this process, we’ve compiled answers to frequently asked questions. According to tax regulations, when you turn 73, you must start taking annual withdrawals, known as Required Minimum Distributions (RMDs), […]

Thinking about a new vehicle or starting to work from your home? Small businesses can potentially utilize these strategies to reduce their federal income tax, self-employment tax bill, or even reduce state taxes. What you may not know is that combining these deductions can be even more beneficial. In 2025, new and used “heavy” SUVs, […]