Category: Featured Articles

Before a Weather Emergency Closes Your Business, Make a Plan

Before a Weather Emergency Closes Your Business, Make a Plan

by | Sep 18, 2025 |

It’s hurricane season, which is just one of several weather emergencies and other natural disasters companies may face, depending on location. Tornadoes, floods and wildfires also pose serious threats. According to the Federal Emergency Management Agency (FEMA), about 25% of businesses never reopen after a major disaster. And many that do reopen struggle to recover.

To lower the risk of closure and improve your chances of a strong recovery, establish a comprehensive emergency plan before disaster strikes. FEMA recommends the following multi-step approach to help safeguard your business.

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The QBI Deduction: Good News for Eligible Business Owners

The QBI Deduction: Good News for Eligible Business Owners

by | Sep 2, 2025 |

If you’re a small business owner or you’re self-employed, there’s good news on the tax front. The Section 199A qualified business income (QBI) deduction, a powerful tax-saving opportunity since 2018, was initially set to expire in 2025. But thanks to the recent enactment of the One Big Beautiful Bill Act (OBBBA), it’s not only here to stay, it’s also improved.

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The Quirky Math of Partnership Income

The Quirky Math of Partnership Income

by | Aug 20, 2025 |

When it comes to taxation, partners in a business may find the math a bit puzzling. You may discover that the amount of partnership income you’re taxed on is more than the amount that was distributed to you. That’s a quirk of taxation that lies in the way partnerships and partners are taxed.

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The Quirky Math of Partnership Income

Should You Be Making Estimated Payments?

by | Aug 12, 2025 |

If your federal tax withholding isn’t enough to cover your total tax liability, you may need to make estimated tax payments. This typically applies if you have income from sources such as interest, dividends, capital gains or self-employment. The following rules explain how to make these payments without incurring an underpayment penalty.

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Clean Vehicle Credits Expire September 30

Clean Vehicle Credits Expire September 30

by | Aug 4, 2025 |

If you’ve been pondering the purchase of a new or used electric vehicle for yourself or your business, you may want to buy sooner rather than later to take advantage of available tax credits. Under the One, Big, Beautiful Bill Act (OBBBA), these credits won’t be available for purchases made after September.

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Closing a Business? Here’s How to Stay on Top of Your Tax Duties

Closing a Business? Here’s How to Stay on Top of Your Tax Duties

by | Jul 9, 2025 |

Businesses close for various reasons. Perhaps you’re ready to embark on a welcome change such as retirement or launching a new venture. Or maybe it just no longer makes financial sense to continue operating your current business. Whatever the reason, closing your business is a significant milestone, and part of wrapping things up means taking care of a few tax responsibilities.

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You May Owe the “Nanny Tax” Even Without a Nanny

You May Owe the “Nanny Tax” Even Without a Nanny

by | Jul 1, 2025 |

Don’t let the name “nanny tax” fool you. It’s a tax that applies to the wages of a variety of types of household help you hire, such as a nanny, gardener or housekeeper. Hiring extra help can ease the burden of home-related tasks, especially in the summer when the kids are home or the garden needs attention. Unless the worker is an independent contractor, you may be liable for federal payroll tax and other taxes (including state tax obligations).

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