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Fine-Tune Your Tax Withholding After Filing Your Return
Many taxpayers discover at filing time that their tax payments during the year didn’t align with their actual liability — either too much or too little was withheld from their paychecks. A small difference is to be expected, but withholding that’s significantly off target can have negative consequences. Overwithholding reduces the amount available to you [...]
Cost Segregation Studies Can Reveal Substantial Tax Savings
Businesses that own commercial real property may be sitting on an overlooked treasure chest of tax savings — and a cost segregation study can be the key to unlocking it. This is a strategic tool that combines accounting and engineering techniques to identify building costs that are properly allocable to tangible personal property rather than [...]
Tax Mitigation Strategies When Rebalancing Your Investment Portfolio
Large stock market gains in recent years, coupled with some significant volatility in 2026, have left many investors with portfolios that are out of balance with their desired asset allocation. If you haven’t rebalanced recently, it may be time to do so. But you also must consider the tax implications. Careful planning can minimize the [...]
Do Voting Rights Matter When Valuing Closely Held Business Interests
Differences in owners’ voting rights can impact the value of a business interest — but not always. A business valuation professional must thoughtfully evaluate ownership rights and restrictions to arrive at a reliable value conclusion. Here’s how the pros factor voting rights (or lack thereof) into the valuation equation. A matter of control The issue [...]
Unlock Tax-Free Gains with QSB Stock
If you run your business as a C corporation, you may be eligible for a potentially significant tax break for qualified small business (QSB) stock. This opportunity has existed for years, but recent tax law changes have enhanced it. What’s a QSB corporation? QSB corporations are a special type of C corporation. At the entity level, QSB [...]
Individual Tax Calendar: Key Deadlines for the Remainder of 2026
Yes, the April 15 tax deadline is now behind us. But there are also deadlines during the rest of the year that are important to be aware of. To help you not miss any, here’s when some key tax-related forms, payments and other actions are due. Keep in mind that this list isn’t all-inclusive. There [...]
Keeping “After-Hours Hustles” from Draining Your Business
In some workplaces, employees stay late — not to finish pressing company projects — but to use their employers’ resources to pursue unauthorized side work. These workers might use their employers’ equipment and materials, not to mention run up utilities costs. Although side jobs may seem benign relative to outright theft, they can be costly [...]
Material Participation: Why it Matters for LLP and LLC Owners
The passive activity loss (PAL) rules may limit your ability to deduct losses from a business structured as a limited liability partnership (LLP) or limited liability company (LLC). Depending on how your ownership interest is treated under these rules, you may have more or less flexibility to claim losses in the current year. Here’s a [...]
Turn to Business Valuation Pros for QoE Reports
Financial statements provide the data to support prices in mergers and acquisitions (M&As). But are those reported results reliable and sustainable? After all, the value of a business is based on expected future earnings, not historical results. A quality of earnings (QoE) report prepared by a qualified business valuation professional provides critical insight into earnings, [...]
ACA Penalties May Still Apply — and They’re Increasing for 2026
Many small businesses don’t have enough employees to worry about the play-or-pay provisions of the Affordable Care Act (ACA). However, as your business grows, these rules can apply sooner than expected. This issue also may not be on your radar because there’s a common misconception that the repeal of ACA penalties under the Tax Cuts [...]
What You Need to Know About Filing an Extension – and Minimizing Penalties
If you don’t have everything ready to complete your federal individual income tax return by the April 15 deadline, you can request an automatic extension. Filing Form 4868, “Application for Automatic Extension of Time To File U.S. Individual Income Tax Return,” by April 15 can give you breathing room to file accurately and protect you [...]
Help Stop Staged Accidents from Raising Your Insurance Costs
According to the FBI, staged auto accidents account for approximately $20 billion a year in losses. This type of insurance fraud is particularly harmful to the insurance companies that must pay out liability, disability, medical and other types of claims. All of this may sound troubling, but what does it have to do with non-insurance businesses? [...]
FAQs About the Research Credit
Companies that engage in research and development activities may qualify for a federal tax credit for some of those expenses. The credit is complicated to calculate, and not all research activities are eligible — but the tax savings can be significant. Here are answers to questions you might have about this potentially lucrative tax break. [...]
Are Your Eligible for Mileage Deductions?
It’s important to know if you can deduct vehicle-related expenses. A change that was made permanent by last year’s One Big Beautiful Bill Act (OBBBA) limits who can claim a deduction for business mileage. But you might still be eligible, and deductions also may be available if you use your vehicle for certain non-business purposes. [...]
How Valuators Bridge the Gap Between Private and Public Company Values
Business valuation professionals routinely rely on public stock market data when valuing private businesses. However, experts also recognize the key differences between public and private companies and adjust their analyses to generate reliable and defensible value conclusions. Comparing apples to oranges The New York Stock Exchange and other public markets provide readily available, objective pricing [...]
Disclaimer
This blog is designed to provide competent and reliable information regarding the subject matter covered. However, it is being provided with the understanding that the blogmaster is not engaged in rendering investment advice. Laws and practices often vary from state to state and if investment assistance is required, the services of a licensed investment professional should be sought. The blogmaster resolutely encourages the reader/viewer to do their own research and due diligence before acting on any information contained herein. As such, Roger Rossmeisl specifically disclaims any liability that is incurred from the use or application of the contents of this blog. It should also be noted that the views contained in this blog are not necessarily representative of the opinions/beliefs of the other owners, management and/or employees of Kho & Patel CPAs.
