Parents: Claim all the Tax Credits You’re Entitled To
Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax […]
Deferring Taxes on Advance Payments
An advance payment is one received by a business before it provides whatever is being paid for. For federal income tax purposes, generally advance payments must be reported as taxable income in the year received. […]
10 Questions to Help You Prevent Customer List Theft
You understand how important customer lists are to your business’s financial success. So do employees. In fact, some dishonest workers may be tempted to take lists […]
Owner’s Compensation: A Critical Business Valuation Adjustment
Owners’ compensation can be a subjective — potentially contentious — issue when valuing a closely held business. Here’s an overview of how business valuation professionals evaluate and adjust for owners’ compensation when assessing normalized earnings.
The […]
Quadrupled SALT Deduction Limit Means More Taxpayers will Benefit from Itemizing on their 2025 Returns
An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under the […]
IRS Announces Streamlined Option to Request More Time After ERTC Claim Disallowance
On 4/27/2026, the Internal Revenue Service announced a new, streamlined way for taxpayers to extend the period of time for the IRS and the IRS Independent Office of Appeals […]
To Maximize . . . or Not to Maximize . . . Depreciation Deductions on your 2025 Tax Return
The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed by December 31 of the tax year, there are some […]
If You’re Married, Should You File Jointly or Separately?
Married couples have a choice when filing their 2025 federal income tax returns. They can file jointly or separately. […]
Some Small Businesses Can Still Benefit from the Health Care Coverage Credit
Tax credits reduce tax liability dollar-for-dollar. As a result, they can be more valuable than deductions, which reduce only […]
Businesses Need to Look Before They Leap Abroad
U.S. businesses may want to operate abroad for many reasons. Examples include opportunities to grow their customer bases, diversify revenue streams, establish […]
