A tax guide to choosing the right business entity

One of the most critical decisions entrepreneurs make when starting or restructuring a business is choosing the right entity type. This choice directly impacts how the business is taxed, the level of administrative complexity and regulatory compliance obligations. While legal liability considerations also matter, we will focus on tax implications. For liability advice, consult a […]

Saving for Disability Expenses? ABLE Account Rules Just Got Better

Achieving a Better Life Experience (ABLE) accounts offer a tax-advantaged way to fund qualified disability expenses for a beneficiary who became blind or disabled before age 26 (increasing to age 46 in 2026). There’s no tax deduction for contributions, but funds can grow tax-deferred and distributions for qualified expenses are tax-free. The One Big Beautiful […]

IRS Previews 2026 W-2: Big Changes for Employers Ahead

The IRS has published draft versions of Forms W-2 and W-2c for the 2026 tax year. The revised forms introduce new reporting requirements aligned with the One Big Beautiful Bill Act’s (OBBBA’s) new deductions for tips and overtime. For 2025 through 2028, the OBBBA creates a deduction of up to $25,000 for tip income in […]

Troubleshooting in QuickBooks

QuickBooks® can be a powerful tool for managing your company’s accounting records, but like any software, it’s only as accurate as the information entered into it. If you’ve ever generated a QuickBooks report that didn’t look quite right, you’re not alone. Inaccurate or incomplete reports are a common issue that, if left unresolved, can lead […]

⚡ Deadline Alert: Lock in Your EV Tax Credit by Sept. 30!

The cutoff date to take advantage of the $7,500 tax credit for purchasing or leasing a new electric vehicle (EV) or $4,000 credit for buying a used one is fast approaching: Sept. 30, 2025. Just in time, the IRS has issued guidance on the new, used and commercial clean vehicle credits (Sections 30D, 25E and […]

Cost segregation studies are now even more important

Nonprofit Fraud: $2.9M Stolen, 25 Years in Prison

Charitable organizations recognized by the IRS as tax-exempt can enjoy tax-favored status if they strictly follow IRS rules. Among other things, nonprofits must not serve private interests, engage in illegal activity or violate public policy. Violations can result in loss of tax-exempt status, fines and more. One nonprofit agency provided meals for low-income children. After […]

Tax Estimate Due Date Approaching

If you’re a taxpayer who must make quarterly estimated tax payments, don’t let the next due date sneak up on you. The third estimated payment for 2025 is due Sept. 15. Generally, you’ll need to make estimated payments if you earn taxable income that isn’t subject to withholding or if you expect to owe at […]

What taxpayers need to know about the IRS ending paper checks

The federal government has announced a major change that will affect how numerous Americans receive their tax refunds and federal benefit payments. The U.S. Treasury Department, the IRS and the Social Security Administration (SSA) will soon stop issuing paper checks. This transition is designed to increase efficiency, reduce fraud and lower administrative costs — but […]

Can AI Help Catch Tax Fraud? The IRS Has Been Testing That for Years

Republicans on the U.S. House’s Ways and Means Committee want the IRS to use AI technologies to help enforce tax laws. Two committee members have introduced the DETECT Act, which would charge the Government Accountability Office with studying AI-assisted tax fraud detection methods and report on their potential to help the IRS detect tax fraud. […]