Recent News & Blog / Business Tax
Deferring Taxes on Advance Payments
An advance payment is one received by a business before it provides whatever is being paid for. For federal income tax purposes, generally advance payments must be reported as taxable income in the year received.
To Maximize—or Not to Maximize—Depreciation Deductions on Your 2025 Tax Return
The deadlines for filing 2025 tax returns (or extensions) are fast approaching.
Can Your Small Business Benefit from the Health Care Coverage Credit?
Tax credits reduce tax liability dollar-for-dollar. As a result, they can be more valuable than deductions, which reduce only the amount of income subject to tax.
Increase Your Current Business Deductions Under Tangible Property Safe Harbors
Did your business make repairs to tangible property, such as buildings, equipment, or vehicles, in 2025?
There’s Still Time to Set Up a SEP and Reduce Your 2025 Taxes
If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one before you file your 2025 tax return.
Is Your Business Ready for the Tax Deadline That’s on Groundhog Day This Year?
Normally businesses must furnish certain information returns to workers and submit them to the federal government by January 31, but this year, that date falls on a Saturday, so the deadline is the next business day, which happens to be Groundhog Day: February
Tax Filing Update for Pass-Through Entities
Do you operate a business as a partnership, a limited liability company (LLC) treated as a partnership for tax purposes, or an S corporation?
Not All “Business” Expenses are Tax Deductible
With 2025 in the rearview mirror and the tax filing deadline on the road ahead, it’s a good time for businesses to start gathering information about their deductible expenses for 2025.
2026 Payroll Tax Bulletin
The IRS recently released the 2026 payroll tax rates, which we have summarized in a bulletin for your convenience and quick reference.
2026 Rates & Dates
The IRS recently released the 2026 rates and dates, which includes individual tax rate schedules, roth retirement contributions, social security taxes, payroll tax deposit due dates for businesses, and more.