The Spiraling Cost of Federal Healthcare Subsidies and Carveouts

The Spiraling Cost of Federal Healthcare Subsidies and Carveouts https://bit.ly/3Vt0xzR

Resolve IRS Disputes Faster With Fast Track

In a recent Tax Executives Institute seminar, the IRS’s Large Business and International (LB&I) Division Commissioner Mabeline Baldwin discussed her department’s priorities. LB&I is currently revising forms to eliminate redundancies and incorporate tax law changes, and is ramping up Fast Track, a voluntary mediation program. Businesses that choose Fast Track can generally expect their cases […]

What’s the right entity type for your new business?

Start-ups must choose a legal entity for their business activities. The type of entity you select affects how the business is taxed and who may be held personally liable for its debts and obligations, among other things. Two popular options — assuming you’re going into business with one or more other people — are S […]

Give Business Interests. Save on Gift Taxes.

Business owners may be able to transfer wealth more tax efficiently by gifting ownership interests to family members. For 2026, the gift tax annual exclusion is $19,000 per recipient. Certain interests may qualify for valuation discounts. For example, a minority interest may qualify for a lack-of-control discount because the holder can’t dictate business decisions. A […]

Be tax-smart with your mutual fund investments

Mutual funds offer an easy way to invest in a diversified portfolio compared to buying individual stocks and bonds. But the tax treatment of mutual funds isn’t so simple. How are mutual funds taxed? If you sell appreciated mutual fund shares, the resulting profit will be taxable. If you’ve held the shares for one year […]

Disaster Tax Relief Just Got Easier

President Trump has signed the Doug LaMalfa Federal Disaster Tax Relief Certainty Act. Among other things, it expands personal deductions for disaster-related losses. Previously, victims of a federally declared disaster could deduct personal casualty losses only if they itemized, and only to the extent those losses exceeded 10% of their adjusted gross income (AGI). The […]

How a financial statement audit strengthens your fraud defenses

Fraud is a major threat facing small and midsize businesses. While audits aren’t designed to uncover fraud, they can help business owners identify anomalies and deter would-be fraudsters. Recent findings from the Association of Certified Fraud Examiners (ACFE) underscore the important role audits play, together with other controls, in a broader fraud prevention strategy. Recent […]

IRS Proposes New Rules for Qualified Opportunity Zone Investments

The IRS has proposed regulations regarding recent Qualified Opportunity Zone (QOZ) changes. The QOZ program offers tax breaks on capital gains from eligible long-term investments in designated low-income and rural communities through Qualified Opportunity Funds (QOFs). Under the proposed regs, QOFs would file information returns with the IRS and furnish statements to investors who dispose […]

The cost of going solar

Employers: New IRS Guidance Clarifies the Overtime Pay Tax Deduction

Employers: The IRS recently updated its FAQs on the qualified overtime pay tax deduction for employees created under the One Big Beautiful Bill Act. The guidance provides new details on how you must identify, calculate and report qualified overtime income. For example, it clarifies that only FLSA-mandated overtime premiums qualify, notifies employers that separate reporting […]