Beware of potential tax issues when selling self-created intangibles

Many modern businesses rely on intangible assets, such as goodwill, trademarks and customer lists. But the IRS doesn’t treat all intangibles the same way. Questions about how these assets are taxed often arise when a business is sold, ownership changes hands, or intellectual property is licensed or transferred. Generally, intangibles qualify as capital assets that […]

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Working From Home? Your Tax Deduction May Be Gone

Last year’s One Big Beautiful Bill Act made permanent the suspension of most miscellaneous itemized deductions for individual taxpayers. Before the 2018 suspension, professional fees, investment costs and similar expenses had been deductible if they exceeded a floor of 2% of adjusted gross income. Also impacted are unreimbursed employee business expenses, which affects employees who […]

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When outstanding invoices indicate underlying operational issues

Late customer payments don’t just create temporary cash shortages. Over time, inconsistent collections can disrupt budgeting, increase borrowing needs and make it harder to plan for growth. In response to cash flow challenges, many businesses focus heavily on increasing revenue while overlooking how efficiently they convert receivables into cash. But even a strong top line […]

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IRS Expands Its Business Tax Account

The IRS recently announced new and expanded features for its Business Tax Account (BTA) platform. The BTA is a self-service platform available to sole proprietors; S corporations; C corporations; certain partners and shareholders; tax-exempt organizations; and federal, state and local governments. It allows users to securely access and manage their federal tax records and information. […]

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