On December 2, President Trump announced that Michael and Susan Dell are donating $6.25?billion to expand the funding of tax-advantaged Trump Accounts. Introduced under the One Big Beautiful Bill Act, these accounts are intended to help children...
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It’s a necessity to ensure the safety of your critical accounting information when you grant employees access to QuickBooks. You trust your staff members, or you wouldn’t have hired them. But it’s just good business practice to...
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There’s still time for small businesses and their owners to implement strategies to save taxes for 2025. Traditional strategies continue to be valuable, but the One Big Beautiful Bill Act (OBBBA) includes several changes that also can help...
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Serving in the U.S. Armed Forces brings distinctive financial challenges — and some well-deserved tax advantages. Identifying and claiming these tax breaks can make a substantial difference at filing time. Here are some potential benefits...
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The One Big Beautiful Bill Act (OBBBA) has garnered headlines for extending dozens of tax provisions and creating new tax-saving opportunities for individuals and businesses. But it also eases the rules for Form 1099-NEC, “Nonemployee...
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As the year draws to a close, many businesses look for ways to recognize and thank their employees. From gift cards to holiday treats to service awards, the options are plentiful. But not all gifts are treated equally by the IRS. The tax...
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Significantly fewer taxpayers have owed the alternative minimum tax (AMT) for the last several years. This is because the Tax Cuts and Jobs Act (TCJA) made the individual AMT rules more taxpayer-friendly for 2018 through 2025. The One Big...
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Know the rules for backup withholding When your business hires independent contractors, you’re generally not responsible for withholding tax from their compensation. But there are circumstances in which you should withhold a certain...
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The holiday season is right around the corner, and that’s when many charitably inclined people start to think about year-end donations to their favorite charities. When planning your charitable contributions, don’t forget about the...
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Section 529 plans are most commonly used as a tax-favored way to save and pay for college expenses. You might be reluctant to open a 529 account for your child because you’re not sure he or she will pursue a college degree. Or maybe...
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The One, Big, Beautiful Bill Act (OBBBA), which was enacted on July 4, generally extends and expands tax provisions that were scheduled to expire at year end. Here are seven valuable tax breaks that might benefit your family: 1. Child Tax Credit...
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If you’re building up a small business but haven’t yet needed to borrow funds to expand or smooth out cash flow irregularities, you’re doing something right. Or if you have borrowed and everything went smoothly, kudos again...
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