For years, the answer seemed straightforward. Interest rates were historically low, stock markets generally rewarded long-term investors, and many financial experts encouraged people to invest extra money rather than aggressively paying down low-interest debt. That advice made sense when mortgages carried interest rates near 3% and savings accounts paid next to nothing. Today’s financial landscape […]
Article Highlights: Sports Expenses As a Childcare Expense Charitable Contributions Volunteering Parents Use of an Asset by a Charity Medical Expense Exception When a Child’s Sport Becomes a Business Recordkeeping and Practical Guidance A child’s and their parent’s sports expenses, from registration fees and travel to equipment and volunteer time, sit at the intersection of […]
When Congress passes a major tax bill, most people assume the hard part is over. In reality, that’s often when the next phase begins. Earlier this month, the U.S. Department of the Treasury and the Internal Revenue Service released their 2026 Priority Guidance Plan, outlining the regulations and administrative guidance they expect to work on […]
Article Highlights: A Simple Example, Finding Money On The Street What Section 61 Is Designed To Do The Basic Idea: Accession To Wealth What Is Usually Taxable? What Is Usually Not Taxable? The General Welfare Exclusion State Tax Refunds Are Not Always Taxable What About Prizes, Awards, and Gambling Winnings? Examples of Expressly Excluded Income […]
Retailers are placing inventory orders. Restaurants are planning for seasonal demand. Contractors are scheduling projects before winter. Professional service firms are setting revenue goals they hope to achieve before year-end. Whether your busy season starts in September or December, one thing is true for almost every business: The decisions you make in September often determine […]
If you make or receive income that is not fully covered by withholding, September 15, 2026 is an important date on the tax calendar. It is the due date for the third installment of 2026 federal estimated tax payments for individuals who are not paying enough through withholding during the year. Why Estimated Tax Payments […]
If you use QuickBooks Online to manage your business finances, you may notice some changes this season. Throughout August and into Early Fall 2026, Intuit QuickBooks will release new automation and artificial intelligence capabilities designed to reduce routine bookkeeping work, provide faster financial insights, and help business owners manage cash flow. At the same time, […]
Back-to-school season isn’t just for students. As backpacks are filled, schedules become more structured, and summer winds down, many business owners find themselves shifting back into “work mode” after vacations, family trips, and a slower summer pace. It’s also one of the best times of the year to give your business its own report card. […]
September 2026 Individual Due Dates September 10 – Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during August, you are required to report them to your employer no later than September 10. You can use IRS Form 4070 or your own statement that […]
Article Highlights: What the Saver’s Credit is (through 2026) Why eligible taxpayers should take advantage of the Saver’s Credit for 2026 Practical Examples (Simple) What Changes in 2027 Key Points About the New Saver’s Match: Why the Change Matters to You Action Steps for Taxpayers Who May Qualify (now and once the Match begins) Bottom […]