This year, the One Big Beautiful Bill Act (OBBBA) introduced an important tax break for certain nonresidential real estate that can be classified as qualified production property (QPP): it now
During the holiday season, a great way to show appreciation for customers and employees is through business gifts. And, as an added bonus to your business, the gifts you give
Timing your income and deductible expenses to your advantage is easier if you can project your business’ income for this year and the next. And, unless you expect to be
As year-end approaches, it’s important to review your business’ expenses for deductibility. If you accelerate deducting expenses into this year, you could reduce 2025 taxes and possibly provide permanent tax
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
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
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
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
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
You may find yourself facing challenging and unique spousal tax issues if you and your spouse operate a profitable unincorporated small business together. The Partnership Issue An unincorporated business with
