Recent News & Blog / Business Tax
What the One, Big, Beautiful Bill Act (OBBBA) could mean for individuals and businesses
As 2025 began, taxpayers were facing uncertainty as several key tax provisions were set to expire at year's end. That changed on July 4, when President Trump signed the One, Big, Beautiful Bill Act (OBBBA) into law. The OBBBA brings a mix of changes that could impact both individuals and businesses. First, we’ll explore eight key areas that may affect you and your family - then we'll review 10 areas that may impact your business.
The IRS recently announced 2026 amounts for Health Savings Accounts
Health Savings Account (HSA) update for employers: If your business offers HSAs, the IRS recently released the 2026 inflation-adjusted amounts. Here they are, along with the benefits of HSAs. Contact our business advisors with questions about HSAs.
Take advantage of the rehabilitation tax credit when altering or adding to business space
Thinking of investing in, or restoring, a historic building for your business? The federal tax code may reward you with a tax credit. Here’s how it works. Contact our business tax advisors with questions.
Startup costs and taxes: What you need to know before filing
If you’re an entrepreneurs, you may not know that many expenses incurred by start-ups can’t currently be deducted on your tax return. Some likely must be amortized over time. You may be able to deduct up to $5,000 currently, but other rules and requirements apply. Contact our business tax advisors if you have tax questions about a start-up business.
Keep these DOs and DON’Ts in mind when deducting business expenses
If you’re claiming business expense deductions for meals, a home office, vehicles and other items, the IRS may closely review them. It’s important to comply with the strict tax law substantiation requirements for these expenses. Contact our business tax advisors with business expense deductions questions.
The One, Big, Beautiful Bill could change the deductibility of R&E expenses
The deductibility of research and experimental expenses is limited for businesses. However, The One, Big, Beautiful Bill may significantly improve the deduction. Here’s the story. Contact our business tax advisors with questions.
5 tax breaks on the table: What business owners should know about the latest proposals
A bill in Congress — dubbed The One, Big, Beautiful Bill — could significantly reshape several federal business tax breaks. While the proposed legislation is still under debate, it’s already sparking attention across business communities. Here’s a look at the current rules and proposed changes for five key tax provisions and what they could mean for your business.
Planning a summer business trip? Turn travel into tax deductions
If you or your employees are heading out of town for business this summer, it’s important to understand the travel deduction tax rules. If a trip includes both business and personal time, only expenses related to the business portion (such as meals and lodging for business days) are deductible. Contact our tax advisors for guidance on what’s deductible in your situation.
Hiring independent contractors? Make sure they’re properly classified
Many businesses turn to independent contractors to help manage costs, especially during times of staffing shortages and inflation. If you’re among them, ensuring these workers are properly classified for federal tax purposes is crucial. Misclassifying employees as independent contractors can result in expensive consequences such as audits, back taxes, penalties and even lawsuits. Our business advisors can also consult with you on this topic.
Can you turn business losses into tax relief?
Having a tough year? Find out how net operating losses (NOL) can convert today’s setbacks into brighter tax savings in the future. Also, read more about the changes and limits on the Tax Cuts and Jobs Act (TCJA). Contact our business tax advisors with questions.