Recent News & Blog / Business Tax
Material Participation and Why It Matters for LLP and LLC Owners
The passive activity loss (PAL) rules may limit your ability to deduct losses from a business structured as a limited liability partnership (LLP) or limited liability company (LLC).
ACA Penalties May Still Apply—and They’re Increasing for 2026
Many small businesses don’t have enough employees to worry about Affordable Care Act (ACA) provisions; however, as your business grows, these rules can apply sooner than expected.
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.