Typically, commercial real estate is depreciated over 39 years. However, certain real estate improvements, such as qualified improvement property (QIP), may qualify for accelerated depreciation and can be immediately fully
Your primary reason for supporting your favorite charities is probably not because you could save on taxes. However, it is an added benefit. Furthermore, donating appreciated stock instead of cash
When the One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025, it included many changes. Some of these changes include extensions and enhancements on tax
Under the One Big Beautiful Bill Act (OBBBA), individuals who are age 65 or older can now claim a new “senior” deduction of up to $6,000 starting now in 2025
Managing reimbursements and accompanying receipts for meals, hotel, and incidents for employees who travel can be frustrating and stressful. The “high-low” per diem business travel method could make this process
According to the National Center for Health Statistics, approximately 1.3 million Americans live in nursing homes. If your parents fall into this category, there may be specific tax implications that
Understanding potential tax consequences of personally guaranteeing a loan to your closely held corporation is important before any decisions are made. If the corporation defaults, for example, you as the
Receiving a letter from the IRS can feel intimidating and unsettling for many taxpayers. Official letters with the IRS seal can make the receiver wonder if they made a mistake
Delivering great products or services to your customers is just the beginning of running a successful business. Prioritizing strong recordkeeping practices for your business could mean the difference between successfully
Are you age 50 or older? If so, you’re eligible to boost your retirement savings through additional “catch-up” contributions to your tax-advantaged retirement account(s). These extra contributions can provide more
