Summer is a good time to see whether your income, deductions and investment activity are lining up as expected. Let’s take a look at a few areas that commonly provide tax-saving opportunities. Your tax bracket The legislation commonly known as the One Big Beautiful Bill Act (OBBBA), which was signed into law on July 4, […]
Read More Midyear tax planning: Review opportunities to save taxes this year (or next)The IRS has proposed regulations that may simplify reporting for certain trusts claiming charitable deductions. Under the proposed regs, a trust wouldn’t need to file Form 1041-A, “U.S. Information Return Trust Accumulation of Charitable Amounts,” for a tax year if its only charitable deduction comes from contributions made by a passthrough entity in which the […]
Read More IRS Proposes simplified trust reporting for charitable deductionsIs Sept. 15 flagged on your tax calendar? It’s the deadline for individuals to make their third 2026 estimated tax payment. Estimated payments are generally required if you expect to owe at least $1,000 in federal tax for 2026 after withholding and credits, and your withholding won’t equal at least 90% of your 2026 tax […]
Read More September 15: Your Next Estimated Tax Payment Is DueChapter 7 (liquidation) bankruptcy is generally available if you’re an individual or business debtor, regardless of how much you owe and whether you’re solvent. Some tax debt may be dischargeable. But even if this debt is eventually erased, you must continue to comply with tax laws during the bankruptcy process. Make estimated tax payments (if […]
Read More Bankruptcy Doesn’t Mean You’re Done With Your TaxesPersistent inflation, elevated interest rates and volatile energy costs continue to squeeze profit margins for many small and midsize businesses. While implementing price increases may seem like the simplest response, that’s not always necessary — and, in today’s competitive markets, price increases can even cause some of your customers to search for lower-cost providers. Sustainable […]
Read More Managing overhead costs todayWhen is a lemonade stand not just a lemonade stand? If your child earns $400 or more annually in profit from a lemonade stand, lawn service or other self-employment, that income may be taxable. Kids may be able to deduct certain business expenses to lower their self-employment income and potential taxes. They also have several […]
Read More When Is a Lemonade Stand More Than Just a Lemonade Stand?M&A activity surges in 2026
Read More M&A activity surges in 2026Businesses operating vehicles with a gross weight of 55,000 pounds or more on public highways may owe the federal Heavy Highway Vehicle Use Tax. The current reporting period for Form 2290, Heavy Highway Vehicle Use Tax Return, is July 1, 2026, to June 30, 2027. The filing deadline is based on the month a taxpayer […]
Read More Own a Heavy Highway Vehicle? Don’t Miss This DeadlineThe Financial Crimes Enforcement Network (FinCEN) is making permanent the suspension of the beneficial ownership information (BOI) reporting requirements for U.S. companies and U.S. persons. If these Corporate Transparency Act requirements had gone into effect, millions of U.S. businesses would have faced the administrative burden of an initial BOI filing and subsequent updates for any […]
Read More BOI Reporting: The Rules Have Changed AgainElectric Vehicle Taxes by State, 2026 https://bit.ly/3VjhOYQ
Read More Electric Vehicle Taxes by State, 2026
Our Blog 