New rules could boost your R&E tax savings in 2025

A major tax change is here for businesses with research and experimental (R&E) expenses. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) reinstated the immediate deduction for U.S.-based R&E expenses, reversing rules under the Tax Cuts and Jobs Act (TCJA) that required businesses to capitalize and amortize these costs over five years (15 years […]

2026 Tax Calculator: How the One Big Beautiful Bill Act’s Tax Changes Will Affect You

2026 Tax Calculator: How the One Big Beautiful Bill Act’s Tax Changes Will Affect You https://bit.ly/3VNOavi

Investing in qualified small business stock now offers expanded tax benefits

By purchasing stock in certain small businesses, you can diversify your investment portfolio. You also may enjoy preferential tax treatment, some of which is getting even better under the One Big Beautiful Bill Act (OBBBA) that was signed into law in July: Qualified small business (QSB) stock now offers more tax-saving opportunities. QSB defined A […]

Divorcing as a business owner? Don’t let taxes derail your settlement

Divorce is stressful under any circumstances, but for business owners, the process can be even more complicated. Your business ownership interest is often one of your largest personal assets, and in many cases, part or all of it will be considered marital property. Understanding the tax rules that apply to asset division can help you […]

Tax Court Says No QBI Deduction on Cannabis Wages

Many eligible small business owners enjoy a tax deduction based on their qualified business income (QBI). To be deductible for QBI purposes, expenses must be “allowed in determining taxable income.” The U.S. Tax Court recently denied the shareholders of two S corporations engaged in cannabis sales from including wages when calculating the QBI deduction. Tax […]

No tax on car loan interest under the new law? Not exactly

Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence interest or home mortgage interest, which can be deducted, subject to some limitations, if you itemize deductions on your tax return. The One Big Beautiful Bill Act (OBBBA) adds another exception for eligible car loan […]

Lower your self-employment tax bill by switching to an S corporation

If you own an unincorporated small business, you may be frustrated with high self-employment (SE) tax bills. One way to lower your SE tax liability is to convert your business to an S corporation. SE tax basics Sole proprietorship income, as well as partnership income that flows through to partners (except certain limited partners), is subject […]

Online Sports Betting Taxes, 2025

Online Sports Betting Taxes, 2025 https://bit.ly/4pNT2OX

Comparing 2025 Gas Taxes by State

Comparing 2025 Gas Taxes by State https://bit.ly/4pmnJKz

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 […]