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 […]

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

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

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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), thatโ€™s secured by your home and used to buy, build […]

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How often should your business issue financial statements?

For decades, quarterly financial reporting has provided the cornerstone for fair, efficient and well-functioning markets. However, President Trump recently posted on social media that public companies should move to semiannual financial reporting. He believes changing the frequency would lower compliance costs and allow management to focus less on meeting short-term earnings targets and more on […]

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Looking to lower your 2025 tax Bill?

If youโ€™re looking for last-minute ways to lower your 2025 tax bill, consider prepaying some education costs. Taxpayers may be able to claim an American Opportunity Tax Credit (AOTC) of up to $2,500 per student for expenses paid in 2025, as long as classes begin by March 31, 2026. Costs related to tuition, course materials […]

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