Recent News & Blog / Business Tax
FAQs About the Federal Research Credit
Companies that engage in research and development activities may qualify for a federal tax credit for some of those expenses. The credit can be complicated to calculate, and not all research activities are eligible—but the tax savings can be significant.
Debt vs. Equity: Classification Counts When Shareholders Put Money into Their Corporations
If you operate your business as a C corporation, how you put money into your company—and how you take it back out—can have a major impact on your tax bill.
Business Deductions for Four-Legged Coworkers
Did you know that you can claim tax deductions for animals that serve a bona fide business purpose? This benefit extends beyond agricultural operations, as working animals across many sectors may qualify.
Options for Forfeited Employee FSA Balances
Many businesses offer health care and dependent care flexible spending accounts (FSAs) as part of their employee benefits package.
What Is Your Potential Business Vehicle Deduction?
If you used one or more vehicles in your business during 2025, you may be eligible for valuable tax deductions on your 2025 income tax return. Businesses can generally deduct expenses attributable to business use of a vehicle plus depreciation.
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.