Divorce is challenging in any situation, but for business owners, it can be especially complex. A business interest is often one of the most valuable personal assets, which in many
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
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
While there were no changes to 1099 filing requirements for 2025, the One Big Beautiful Bill Act (OBBBA) contains a major overhaul to an outdated IRS requirement. Beginning with payments
The qualified business income (QBI) deduction, which became effective in 2018, is a significant tax benefit for many business owners. It allows eligible taxpayers to deduct up to 20% of
The One Big Beautiful Bill Act (OBBBA) includes a number of beneficial changes that will help small business taxpayers. Perhaps the biggest and best changes are liberalized rules for depreciating
The One, Big, Beautiful Bill Act (OBBBA) was signed into law on July 4. The new law includes a number of favorable changes that will affect small business taxpayers, and
If your business occupies a large space and you’re planning to relocate, expand, or renovate in the future, consider the potential benefits of the rehabilitation tax credit. This could be
In May 2025, the U.S. Census Bureau reports there were nearly 447,000 new business applications. The bureau measures this by tracking the number of businesses applying for an Employer Identification
If you’re claiming deductions for business meals or vehicle expenses, be prepared for detailed inspection from the IRS. These deductions are often flagged for review, especially when documentation is lacking
