Entries by IslerNW

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Maximizing Business Deductions: An Introduction to Depreciation, Amortization, and Expensing

Article Highlights: MACRS Depreciation Bonus Depreciation Section 179 Expensing Amortization Materials and Supplies Expensing The De Minimis Safe Harbor Rule Expensing Routine Maintenance Expensing Per Building Safe Harbor for Small Taxpayers Expensing In the intricate world of business accounting and taxation, the ability to strategically deduct expenses can significantly impact a company’s financial health and […]

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Your Annual Reminder to File Worker 1099s

Article Highlights: 1099-NEC Filing Requirements Filing Due Date Independent Contractor Filing Threshold Landlords Additional Filing Requirements Form W-9 Household Workers Penalties Endeavors to Mitigate Penalties Worksheet This is our annual reminder that if you use workers other than employees to perform services for your business and pay them $600 or more for 2025, you are […]

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Why an LLC?

Article Highlights: The Purpose and Function of an LLC Pros and Cons of Choosing An LLC Advantages Disadvantages Does an LLC Need Liability Insurance?    Does an LLC Provide Protection Nationally? When to Choose an LLC The Path Forward: Making an Informed Decision An LLC (Limited Liability Company) is a flexible business structure that creates […]

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Year-End Individual Tax Planning Opportunities

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? […]

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Penalties That Can Wreck Your Finances

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 […]

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Last-Minute Year-End Tax Tactics: Maximize Your Business Savings Now!

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 […]