Commercial real estate usually must be depreciated over 39 years. But certain real estate improvements — specifically, qualified improvement property (QIP) — are eligible […]
As appearing in IR-2025-105
On 10/21/25, the Department of the Treasury and the Internal Revenue Service provided transitional guidance […]
Saving taxes probably isn’t your primary reason for supporting your favorite charities. But tax deductions can be a valuable added benefit. If you […]
As calendar-year entities start work on their year-end financials, it’s important to remember that financial reporting is about more than compliance. Financial statements also help business owners […]
The One Big Beautiful Bill Act (OBBBA), signed into law July 4, 2025, extends or enhances many tax breaks for businesses. But the legislation terminates several business-related clean […]
Benford’s Law was first popularized by physicist Frank Benford in 1938, but it’s a statistical concept that remains relevant today — particularly in […]
If you have employees who travel for business, you know how frustrating it can be to manage reimbursements and the accompanying receipts for […]
For 2025 through 2028, individuals age 65 or older generally can claim a new “senior” deduction of up to $6,000 under the One Big Beautiful Bill Act […]
Approximately 1.3 million Americans live in nursing homes, according to the National Center for Health Statistics. If you have a parent moving into […]
If you’re considering guaranteeing, or are asked to guarantee, a loan to your closely held corporation, it’s important to understand the potential tax consequences. Acting as a […]
