Article Highlights: De Minimis Fringe Benefits Cash Gifts Gift Certificates and Debit Cards Non-cash Vouchers Group Meals Tax Compliance and Planning It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market value so low that it is impractical and […]
December 2025 Individual Due Dates December 1 – Time for Year-End Tax Planning December is the month to take final actions that can affect your tax result for 2025. Taxpayers with substantial increases or decreases in income, changes in marital status or dependent status, and those who sold property during 2025 should call for a […]
Article Highlights: Not Needing to File a 2025 Return? Are Your Children Attending College? Did You Sell Your Home This Year? Do You Have an Employer Health Flexible Spending Account? Did You Become Eligible to Make Health Savings Account (HSA) Contributions This Year? Have You Funded Your Retirement Savings? Married and Spouse Does Not Work? […]
The IRS Doesn’t Send Thank-You Notes—Just Penalty Notices You file a little late. You miss an estimated payment. You hire a remote employee in another state and forget to register for payroll taxes there. No big deal, right? The IRS and state agencies think otherwise. They don’t send gentle reminders—they send bills with penalties and […]
When Change Hits Your Business, So Do Tax Consequences In business, change is constant. You start strong, add partners, grow fast, face challenges, and eventually think about what’s next. Each of those turning points—what we’ll call “life events”—comes with tax and financial ripple effects that are easy to overlook in the moment. From new partnerships […]
Growth Feels Great—Until It Doesn’t At first, running your business feels simple: money comes in, bills go out, and if there’s something left over, you’re doing fine. Then growth happens. More clients. Bigger projects. Higher payroll. Maybe even a second location. Suddenly, cash doesn’t flow the way it used to. You’re booking record sales, but […]
Article Highlights: Tax Strategy Optimization Buy Equipment and Other Fixed Assets Section 179 Expensing Bonus Depreciation De Minimis Safe Harbor Year-end Inventory Management Contributing to a Retirement Plan Maximize the Qualified Business Income (QBI) Deduction Review Accounts Receivable for Bad Debts Pre-Pay Expenses Deferring Income First Year in Business Avoid Underpayment Penalties Are You a […]
Article Highlights: Motivations for Selling: Tiring of Property Management Retiring and Downsizing Taking Advantage of Appreciation Family Transfers Changing Personal Goals or Circumstances Tax Strategies and Issues 1031 Exchange Primary Residence Conversion Consider Renting First How is Capital Gains Tax Calculated Owning a second home can be a cherished asset, providing a haven for relaxation, […]
When a “Good Year” Still Feels Tight You finally have a year where sales are up and the books show a profit—yet your bank account feels like it missed the memo. You’re working harder than ever, but cash seems to disappear the moment it hits your account. If that sounds familiar, you’re not doing anything […]
November 2025 Business Due Dates November 10 – Social Security, Medicare and Withheld Income Tax File Form 941 for the third quarter of 2025. This due date applies only if you deposited the tax for the quarter in full and on time. November 17 – Social Security, Medicare and Withheld Income Tax If you are […]