Review your business expenses before year end

Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025 taxes and might even provide permanent tax savings. Also consider the impact of the One Big Beautiful Bill Act (OBBBA). It makes permanent or revises some Tax Cuts and Jobs Act (TCJA) provisions […]

Earn Tips? Don’t Forget to Report Them on Time in 2026

If you earn income from tips, you may want to mark up your 2026 calendar now. You’ll be required to report the previous month’s tips income of $20 or more (cash, check, charged and any portion of pooled tips you retain) to your employer by the 10th day of every month. If the 10th falls […]

🎄 Merry Christmas from Van de Ven LLC CPAs! 🎄

“God never gives someone a gift they are not capable of receiving. If He gives us the gift of Christmas, it is because we all have the capacity to understand and receive it.” — Pope Francis As the year comes to a close, we want to take a moment to thank our clients, partners, and […]

Fed Lowers Interest Rates: What Businesses and Investors Need to Know

The Federal Reserve lowered interest rates by one-quarter of a percentage point on Dec. 10, 2025. This was the third meeting in a row that the Fed board lowered rates. The U.S. labor market seems to be weakening, but inflation is rising and the Fed usually increases interest rates if needed to try to maintain […]

The 2025 SALT deduction cap increase might save you substantial taxes

If you pay more than $10,000 in state and local taxes (SALT), a provision of the One Big Beautiful Bill Act (OBBBA) could significantly reduce your 2025 federal income tax liability. However, you need to be aware of income-based limits, and you may need to take steps before year end to maximize your deduction. Higher […]

IRS Credit Alert: WOTC Could Get Bigger and More Accessible

The Work Opportunity Tax Credit (WOTC), scheduled to expire on Dec. 31, 2025, offers tax savings to businesses for hiring individuals from targeted groups. Examples include qualified veterans, recipients of certain aid programs, ex-felons and qualified long-term unemployment recipients. Employers must file a form with their state workforce agency to certify that hires are members […]

Maximize Your HSA: 2026 Contribution Limits and HDHP Rules

The IRS is providing guidance on new tax benefits of Health Savings Accounts (HSAs) under the One Big Beautiful Bill Act (OBBBA). Among other things, the OBBBA makes permanent the ability to receive telehealth services before meeting the high-deductible health plan (HDHP) deductible while remaining eligible to contribute to an HSA, effective for plan years […]

Should your business maximize deductions for real estate improvements now or spread them out?

Commercial real estate usually must be depreciated over 39 years. But certain real estate improvements — specifically, qualified improvement property (QIP) — are eligible for accelerated depreciation and can even be fully deducted immediately. While maximizing first-year depreciation is often beneficial, it’s not always the best tax move. QIP defined QIP includes any improvement to an […]

Sec. 179 Deduction: Key 2025 Deadlines and Limits for Businesses

Businesses should act quickly if they want to maximize their Sec. 179 expense deduction for the 2025 tax year. To qualify, the eligible property must be placed in service, fully ready and available for business use, by December 31, 2025. For 2025, you can expense up to $2.5 million of eligible assets, with the deduction […]

Homeowners, Take Note: Mortgage Interest Rules Have Changed

The One Big Beautiful Bill Act (OBBBA) permanently eliminates the deduction for interest on home equity loans and lines of credit. Previously, this deduction was suspended through 2025. Interest remains deductible only on home acquisition debt, generally up to $750,000 ($375,000 if married filing separately), that’s secured by your home and used to buy, build […]