Aug 19, 2025 | Business Planning, Closely Held Business, Tax News
Tariffs are a long-standing tool of economic policy, but that doesn’t make them easy for companies to navigate. Recently, tariffs have been imposed, lifted and then revised, making it difficult for companies to predict short-term costs. U.S. businesses may face...
Aug 5, 2025 | Business Planning, Personal Financial Planning, Tax News
There’s no single test that determines whether an activity is a hobby or a business, but the IRS considers several factors, including: Whether you intend to make a profit Whether you rely on the income Whether incurred losses are expected for a new business or...
Jul 29, 2025 | Business Planning, Tax News
Choosing the right business format is a critical step in establishing your business venture. Each structure has unique features, from tax implications to liability protections, that can significantly impact your operations and goals. A sole proprietorship is the...
Jul 17, 2025 | Business Planning, Tax News
Business owners need to take care of their personal and business lives on a regular basis. It is always a good time to make sure everything is in order for taxes as well as for general business purposes. The following checklist is a guide to the items your business...
Jul 15, 2025 | Business Planning, Closely Held Business, Tax News
Staying proactive and detail-oriented can help you avoid the most common inaccuracies on your business taxes. Easily avoided mistakes are surprisingly common. These errors include providing an incorrect Social Security number, making math errors or entering the wrong...
Jul 8, 2025 | Business Planning, Closely Held Business, Tax News
As reported by The Journal of Accountancy, The One Big Beautiful Bill Act, was signed into law on Friday, July 4 by President Donald Trump. The bill extends many of the expiring provisions from the Tax Cuts and Jobs Act (TCJA). It also addresses other tax priorities...
