November 2025 Newsletter
New Tax Law Brings Big Changes for Homeowners & Businesses: What the OBBBA Means for You The One Big Beautiful Bill Act (OBBBA), signed on July 4, introduces some of the most meaningful tax updates in years. Whether you own a home in a high‑tax area or operate a small to mid‑sized business, this legislation […]
October 2025 Newsletter
Before a Weather Emergency Closes Your Business, Make a Plan Severe weather can disrupt any business—whether you operate in a region prone to hurricanes, tornadoes, floods, wildfires, or winter storms. According to the Federal Emergency Management Agency (FEMA), roughly 25% of businesses never reopen after a major disaster, and many that do reopen experience long, […]
September 2025 Newsletter
Should You Be Making Estimated Tax Payments? Here’s What You Need to Know If your federal tax withholding doesn’t fully cover your annual tax liability, you may need to make estimated tax payments. This often applies to individuals who earn income outside of regular wages—such as interest, dividends, self‑employment income, capital gains, rental income, or […]
August 2025 Newsletter
You May Owe the “Nanny Tax” Even Without a Nanny The term “nanny tax” can be misleading. It doesn’t apply only to nannies—it covers the wages of any household employee you hire, including housekeepers, gardeners, cooks, in‑home caregivers, or summer helpers. If the person is not an independent contractor, you may have federal and state […]
July 2025 Newsletter
Choosing the Optimal Accounting Method for Tax Savings The accounting method your business uses — cash or accrual — directly affects your taxable income and potential tax savings. The right choice can give you more flexibility, better cash flow control, and the ability to strategically time income and deductions. The wrong one can cost you […]
June 2025 Newsletter
🚨 The High Cost of Worker Misclassification Why It Happens, What It Costs, and How to Protect Your Business Misclassifying a worker may seem like a small paperwork issue, but the financial impact can be substantial. When a worker is treated as an independent contractor instead of an employee, the IRS, state labor agencies, and […]
A Tax Quirk of Being a Business Partner
A Tax Quirk of Being a Business Partner If you’re a partner in a business, you may have encountered a situation that gave you pause: In any given year, you may have been taxed on more partnership income than was distributed to you. The cause of this quirk of taxation lies in the way partnerships […]
Curtailing Cryptocurrency Tax Surprises
Curtailing Cryptocurrency Tax Surprises As investing in Bitcoin, Dogecoin and other cryptocurrencies becomes increasingly popular, investors need to understand the potential tax ramifications. Unlike traditional currency, the IRS views cryptocurrency as property for federal income tax purposes and even asks about it on Form 1040. Many transactions involving cryptocurrency — such as purchases of goods […]
2 More Ways Parents Are Benefitting From the American Rescue Plan Act & Revisiting Worker Classification Rules
2 More Ways Parents Are Benefitting From the American Rescue Plan Act When you think back on this spring, you may fondly recall a substantial deposit made to your bank account by the federal government (if you were eligible). Economic Impact Payments were a focal point of the American Rescue Plan Act (ARPA), signed into […]
Financial Statements for Small Businesses
Financial Statements for Small Businesses Financial statements are used for many reasons by small business owners. Knowing which ones to use and what limitations those statements have can be confusing. Financial statements provide you with an overview of the company’s status. Financial statements should show you measurements of the company’s financial position and assist you […]
