New IRS Digital Asset Reporting: What the First Year of Implementation Means for Businesses
Key Takeaways New IRS rules affect more businesses than many owners expect, even those that do not accept crypto Digital asset exposure often comes from systems and platforms, not customer payments Working with a CPA can help business owners understand risk and build...
How the One Big Beautiful Bill Act Reshapes Your Year-End Tax Strategy
Key Takeaways The One Big Beautiful Bill Act (OBBBA) makes most Tax Cuts and Jobs Act (TCJA) provisions permanent, keeping lower brackets, a larger standard deduction, and full business expensing in place. Temporary deductions for overtime pay, tips, and auto loan...
Tax-Smart Retirement Planning for Business Owners
Key points Business owners have retirement plan options beyond standard IRAs. Solo 401(k)s, SEP IRAs, SIMPLE IRAs, and cash balance plans can unlock powerful tax savings. The One Big Beautiful Bill (OBBB) introduces new deductions and planning opportunities. What...
SALT Deduction Expansion: What It Means for 2025–2029
Key Points: The SALT deduction cap will temporarily increase to $40,000 starting in 2025, creating short-term tax planning opportunities for high earners in high-tax states. Taxpayers with income between $500,000 and $600,000 may see reduced or no benefit due to...