A New Tax Break for Retirement Savers

The IRS has issued Notice 2026-48 outlining anticipated rules for the Saver’s Match program. Signed into law as part of the SECURE 2.0 Act of 2022, the program will apply to tax years beginning after Dec. 31, 2026. Eligible low- and moderate-income taxpayers may receive a federal match of up to 50% on the first […]

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 […]

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 […]

Think the IRS Got It Wrong? You May Have Options

Do you want to dispute an IRS assessment or action? You have the right to escalate the dispute to the Independent Office of Appeals. This independent forum operates separately from the IRS and is designed to provide a fair and unbiased review. You must meet appeal criteria (https://bit.ly/4yXmMgR ) and make an appeal request in […]

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 […]

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. […]

How to deal with credit card processing fees

A New Tax Credit for Paid Family Leave

Beginning in 2026, employers can claim a tax credit for a portion of premiums for paid family and medical leave (PFML) insurance policies, instead of for a portion of actual wages paid during employees’ PFML. Employers can choose to claim the credit for a percentage of qualifying insurance premiums paid or incurred during the tax […]

Bartering? Don’t Forget the Tax Consequences

Does your business barter? Don’t overlook the tax consequences. When businesses exchange goods or services instead of cash, the IRS generally treats the transaction as if each party sold what it provided and purchased what it received at fair market value. The fair market value of goods, services or barter credits received is generally taxable […]

Parents could put pretax paycheck money into Trump Accounts, with employers matching, Treasury says

Parents could put pretax paycheck money into Trump Accounts, with employers matching, Treasury says https://cnb.cx/4xG0dM9