Important August 2025 Due Dates

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August 2025 Individual Due Dates August 11 - Report Tips to Employer If you are an employee who works for tips and received more than $20 in tips during July, you are required to report them to your employer on IRS Form 4070 no later than…

How to Choose the Perfect Business Entity for Your Venture

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Article Highlights: Choosing the Right Business Entity General Overview of Common Business Structures Sole Proprietorships Partnerships Limited Liability Companies (LLCs) C Corporations S Corporations Choosing the…

Married, Successful, and Overpaying? Tax Planning Strategies for High-Income Dual-Income Households

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Here’s something the IRS doesn’t advertise: Success gets expensive fast, especially when there are two high earners under one roof. You both worked hard. You both climbed your career ladders. And now you’re living in that post-promotion,…

Congress Is About to Terminate Environmental Tax Credits. Taxpayers Need to Act Quickly to Qualify

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Article Highlights: The One, Big, Beautiful Bill Previously Owned Clean Vehicle Credit New Clean Vehicle Credit Energy Efficient Home Improvement Credit Residential Clean Energy Credit The legislative landscape of environmental…

Understanding the Proposed Tax Legislation: A Cautionary Approach to Tax Planning

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Article Highlights: Permanent Extension of the Increased Standard Deduction and Changes to Tax Rates Senior Bonus Deduction Adjustment to the Qualified Business Income Deduction (QBI) Estate and Gift Tax Exemption Enhancements …

Think the IRS Is Slowing Down? Why That Might Actually Increase Your Audit Risk

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You’ve probably seen the headlines: “IRS funding slashed.” “Audit rates down.” “Staffing cuts.” If you’re a business owner, investor, or part of a high-earning household, you may be thinking: Finally, some breathing room. But…

Stop Guessing, Start Tagging: How to Make QuickBooks® Online Work Smarter for You

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If you’ve ever wanted to slice and dice your financial data in QuickBooks® Online without changing your chart of accounts or creating new classes or locations, you’re in luck. The Tags feature in QuickBooks® Online offers an intuitive,…

Don’t Let Your Side Hustle Become a Tax Nightmare

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W-2 by Day, Wedding Photographer by Weekend? You started your side hustle for the flexibility. The extra income. The “hey, I’m good at this—why not get paid?” kind of freedom. And now it’s summer, and the bookings are rolling in. Weddings.…

Flat Tax Fever? States Ramp Up 2025 Income Tax Overhauls

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Many U.S. states are considering or implementing flat income tax systems. These policies apply a single tax rate to all taxpayers regardless of income. While supporters say these reforms simplify tax codes and spur economic growth, critics argue…

Important July 2025 Due Dates

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July 2025 Individual Due Dates July 1 - Time for a Mid-Year Tax Check Up Time to review your 2025 year-to-date income and expenses to ensure estimated tax payments and withholding are adequate to avoid underpayment penalties. July 10 -…