Partnerships, limited liability companies (LLCs) treated as partnerships for tax purposes, or S corporations are considered “pass-through” entities in tax lingo. This is because their taxable income items, tax deductions,
Now is a good time for businesses to begin gathering information about their tax deductible business expenses for 2025, with the year now in the rear view mirror and the
Ringing in the new year also means ringing in new 2026 tax figures for businesses. Review and take note of these changes for 2026 and be aware of exceptions or
An S corporation structure has many tax benefits similar to a partnership. In addition, it provides the liability protection of a corporation. However, preserving S corporation status requires due diligence
Your business has annual information reporting obligations if you have employees or use independent contractors. While these information reporting changes are included in the One Big Beautiful Bill Act (OBBBA),
For federal tax purposes, interest paid or accrued by a business is generally deductible. However, some limitations apply. Under the newly enacted One Big Beautiful Bill Act (OBBBA), new changes
Even if your business works on year-round tax planning, there are still steps you can take in the last month of the year to reduce your 2025 taxes. Here are
The tax consequences of selling your business or acquiring another company can have a major impact on the transaction’s success or failure. You must consider the potential tax implications if
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
