Don’t Wait Until December: Summer Is the Perfect Time for Charitable Donations

Many people wait until year end to think about tax-deductible charitable donations. But summer is a great time to clean out your closets and donate clothing and home goods to local nonprofits. In 2026, taxpayers who itemize can deduct cash and noncash contributions that exceed 0.5% of their adjusted gross income (AGI). For donations valued […]

Cash vs. accrual: Choosing the right accounting method

Many small business owners start with simple accounting processes. But as their companies grow, the choice of accounting method can significantly impact taxes, financial reporting and access to financing. Understanding the differences between the cash and accrual methods — and when each makes sense — can help you make more informed decisions as your business […]

New Bill Proposes Major Tax on AI Companies

AI companies would be subject to a one-time tax equal to 50% of their outstanding equity interests if a bill proposed by U.S. Senator Bernie Sanders (I-VT) is passed and signed into law. Under the bill, these equity interests would be deposited into a sovereign wealth fund for the benefit of all Americans. The tax […]

Don’t blame the American Revolution on taxes

Today, America celebrates an extraordinary milestone—250 years since the signing of the Declaration of Independence. For two and a half centuries, our nation’s strength has been built by entrepreneurs, innovators, business owners, workers, and families who believed in the promise of freedom and opportunity. At Van de Ven CPAs + Business Consultants, we’re honored to […]

Newly Married? Don’t Overlook These Tax To-Dos

If you’re getting married, or were recently married, congratulations! Taxes are likely the furthest from your mind, but there are a few tax-related chores you need to consider. For example, next year, for 2026, you’ll be filing your first tax return as a married person. That could affect the amount of tax you should have […]

What 250 Years of Tax History Reveal About the US Tax Code

What 250 Years of Tax History Reveal About the US Tax Code https://bit.ly/4v8VJvy

Did You Know? You Have the Right to Challenge the IRS

It may seem like a daunting task, but you have the right to raise an objection with the IRS and receive a timely response if you disagree with its position regarding your taxes. One of the 10 fundamental rights under the Taxpayer Bill of Rights is the “right to challenge the IRS’s position and be […]

IRS Issues New Qualified Opportunity Zone Transition Guidance

The IRS has issued Notice 2026-40 providing transitional guidance for Qualified Opportunity Zones (QOZs) following recent law changes. The notice clarifies that gains deferred by making qualified investments on or before Dec. 31, 2026, generally must be recognized in the tax year that includes Dec. 31, 2026. Investments made in 2027 or later will follow […]

Common bank reconciliation pitfalls to watch for

Bank reconciliation is one of the simplest — and most effective — internal controls for private businesses. Done consistently and correctly, it helps ensure your financial records are reliable and free from errors or unauthorized transactions. With today’s increased use of automated bank feeds and tools backed by artificial intelligence (AI), bank reconciliation may feel […]