Many Business Tax Limits Have Increased in 2025
A variety of tax-related limits that affect businesses are indexed annually based on inflation. Many have increased for 2025, but with inflation cooling, the increases aren’t as […]
The Standard Business Mileage Rate Increased in 2025
The nationwide price of gas is slightly higher than it was a year ago and the 2025 optional standard mileage rate used to […]
Small Business Strategy: A Heavy Vehicle Plus a Home Office Equals Tax Savings
New and used “heavy” SUVs, pickups and vans placed in service in 2025 are potentially eligible for big first-year depreciation write-offs. One requirement is you must use […]
Treasury Announces Suspension of BOI Reporting
As posted to US Department of Treasury website on 3/2/25
The Treasury Department
How Section 1231 Gains and Losses Affect Business Asset Sales
When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the Internal Revenue Code, which governs the treatment of gains […]
Understanding the Work Opportunity Tax Credit
According to the U.S. Bureau of Labor Statistics, the unemployment rate continues to be historically low, ranging from 4.0% to 4.3% from May to November of 2024. […]
FinCEN Reinstates Beneficial Ownership Reporting Mandate with New March 21, 2025 Deadline
In a major development for U.S. businesses, the Financial Crimes Enforcement Network (FinCEN) has announced the reinstatement of the beneficial ownership information (BOI) reporting mandate under the Corporate Transparency […]
Operating as a C Corporation: Weigh the Benefits and Drawbacks
When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and disadvantages that may significantly affect […]
Tax Treatment of Intangible Assets
Intangible assets, such as patents, trademarks, copyrights and goodwill, play a crucial role in today’s businesses. The tax treatment of these assets can be complex, but businesses […]
Update on BOI Reporting from FinCEN 02-06-25 Alert
In a significant development for businesses across the United States, the legal landscape surrounding the Corporate Transparency Act (CTA) has taken a pivotal turn with the case […]
