The One Big Beautiful Bill Act introduced a number of tax breaks for individuals and businesses that are effective for 2025. Most of the changes are … Read more about Adjusting Estimated Taxes for 2025? Important to Know
One Big Beautiful Bill: Checklist of Tax Changes for Small Businesses
The One Big Beautiful Bill Act of 2025 (OBBBA)…all 887 pages…was passed by Congress on July 3, 2025, and signed by the President on July 4th. While … Read more about One Big Beautiful Bill: Checklist of Tax Changes for Small Businesses
Don’t Take Tax Advice from…
Several years ago, I was at a restaurant and a party of four at the next table were discussing IRA rollovers. I couldn’t help but overhear their … Read more about Don’t Take Tax Advice from…
Preparing for Social Security and Medicare Taxes for 2025
Whether you’re an employee of your corporation or a self-employed individual, it’s likely that your tax bill for Social Security and Medicare taxes … Read more about Preparing for Social Security and Medicare Taxes for 2025
5 Tax Rules that May Surprise You
It’s probably no great revelation to learn that taxes are complicated. As a consequence, most small business owners rely on tax professionals, at … Read more about 5 Tax Rules that May Surprise You
Surprised by Tax Penalties? How to Get Relief
The IRS has a slew of penalties that may be imposed for doing something wrong, doing something late, or failing to do what you should have done: … Read more about Surprised by Tax Penalties? How to Get Relief
5 Last-Minute Tax Tips for Owners of Pass-Throughs
Like December 7, April 15 for many is “a date which will live in infamy.” It’s Tax Day in most of the U.S. Calendar-year partnerships and S … Read more about 5 Last-Minute Tax Tips for Owners of Pass-Throughs
Additional Medicare Taxes on Business Owners
Business owners pay Medicare taxes on their salaries while those who are self-employed pay Medicare tax on their net earnings from self-employment. … Read more about Additional Medicare Taxes on Business Owners
What To Do If You Fall Behind in Tax Deposits
If you are an employer, you are required to deposit your employment taxes on a regular schedule that’s dependent on the usual amount of the deposit. … Read more about What To Do If You Fall Behind in Tax Deposits
5 Other Tax Actions Prompted by Filing Your Return
NOTE: The due dates have been updated since the original publishing date. The April 15 due date for individuals and corporations is now July 15, 2020. … Read more about 5 Other Tax Actions Prompted by Filing Your Return
Amended Business Income Tax Return Opportunities Now
If you’re owed a tax refund related to a tax return filed for a previous year, the IRS isn’t going to automatically send it to you. It’s up to you to … Read more about Amended Business Income Tax Return Opportunities Now
5 Tax Preparation Tips
Yes, it’s that time again when you must file a tax return for your business and yourself. Whether you do this on your own or rely on a tax … Read more about 5 Tax Preparation Tips
