Tax and Accounting Blogs

OBBBA New Significant Tax Legislation We are writing to inform you about the significant new tax legislation (the Act) signed into law July 4, 2025 (formally known as One Big Beautiful Bill or, informally, the OBBB). The Act includes numerous changes affecting individual taxation. Navigating these changes can be complex, and their impact on your […]

OBBBA New Significant Tax Legislation This will be a 3-part blog post highlighting the changes in the OBBBA, how they affect you, and our observations about them. Reduce Income Tax Rates The Act makes the lower individual income tax rates and wider tax brackets introduced by the Tax Cuts and Jobs Act “TCJA” permanent, preventing […]

The Secret Weapon for Small Business Success: Building Your Own Board   Running a small business can feel overwhelming and isolating. You juggle endless responsibilities, make tough decisions, and often shoulder the weight of success (or setbacks) alone. But what if you didn’t have to? What if you could tap into a secret weapon that […]

Federal Electronic Payments: What the End of Paper Checks Means for Businesses and Individuals   Major Changes Ahead: Federal Government to End Paper Checks for Payments and Receipts On March 25, 2025, the White House issued a new Executive Order that will significantly change how federal payments are made and received. As of September 30, […]

The Secret Weapon for Small Business Success Building Your Own Board Running a small business can feel overwhelming and isolating. You juggle endless responsibilities, make tough decisions, and often shoulder the weight of success (or setbacks) alone. But what if you didn’t have to? What if you could tap into a secret weapon that brings […]

Are You Tax-Ready for the 2024 Filing Season? The electronic filing season began on Monday, January 27, 2025, and the individual tax filing deadline for 2024 taxes is April 15, 2025. Below is everything you need to know to get your personal and business tax returns organized and submitted on time. ​ Individual Tax Returns: […]

IRS Form 1099 Filing Requirements To file a Form 1099-NEC by January 31, 2025, for every individual or non-corporate business you paid over $600 for services in 2024. This includes non-employee compensation and legal services. Here is what we will need for each individual or non-corporate business that you paid over $600 for services and […]

Why Your Business Needs Strategic Forecasting As we approach the end of the year, it’s the perfect time to reflect on your business’s performance and prepare for what lies ahead. In the unpredictable world of business, the ability to foresee potential challenges and opportunities is invaluable. Strategic forecasting equips you with the insights needed to […]

Tax Deductions for Small Business Owners and Retirement There are several strategies you can implement before December 31 to help fund the retirement you envision and reduce your current tax liability. Five essential strategies for deductions for self-employed business owners and entrepreneurs seeking to increase their retirement savings:   Establish a Retirement Plan for 2024 […]

2024 How a New Vehicle Could Maximize Tax Deductions for Small Business Owners As a small business owner, one of the most effective ways to reduce your tax liability is by taking advantage of tax deductions. If you require a new business vehicle, 2024 could be an excellent opportunity to get the vehicle you need […]