Tag: Business Tax

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

The One Big Beautiful Bill Act (OBBBA) included a major tax change for business with research and experimental expense (R&E) when it was enacted on July 4, 2025. The OBBBA

Divorce is challenging in any situation, but, divorcing as a business owner can be especially complex. A business interest is often one of the most valuable personal assets, which in

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no changes to 1099 filing requirements for 2025, the One Big Beautiful Bill Act (OBBBA) contains a major overhaul to an outdated IRS requirement.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