Don’t Just Shop for Back-to-School Supplies—Save on Taxes Too
The school year is starting, and while you’re buying backpacks and supplies, don’t forget about the hidden tax perks. Back-to-School Tax Savings Here’s how to make the most of back-to-school season financially considering the latest tax rules and credits under the One Big Beautiful Bill Act (OBBBA). 1. Educator Expense Deduction Still Counts Teachers and […]
One Big, Beautiful Bill Act Equals Major Business Tax Changes
Business owners from LLCs to S Corps, C Corps, and partnerships need to understand how the One Big, Beautiful Bill Act (OBBBA) affects deductions, tax credits, and entity selection. This guide offers a detailed breakdown with FAQs to help you plan strategically. Does the QBI deduction still apply to my business, and did the income […]
New 2025 Tax Rule Changes for Individuals
The One Big, Beautiful Bill Act (OBBBA) includes sweeping changes to the U.S. tax code. If you’re an individual taxpayer, you may be wondering what it means for your 2025 tax return. This guide breaks down key provisions, common questions, and proactive steps you can take now. Will my standard deduction go up or down […]
What the One Big Beautiful Bill Means for You and Your Business
A major tax bill was recently passed by the Senate and signed into law—officially called the One Big Beautiful Bill (OBBB). While the name may sound grand, the real question for most individuals and business owners is simple: What’s actually changing and how does it affect me? The Breakdown Here’s a breakdown of the key […]
12 Biggest Tax Write-Offs for Small Businesses
As a small business owner, staying informed on the latest tax deductions can help you retain more of your hard-earned income. I’ve prepared a guide on the 12 Biggest Tax Write-Offs for Small Businesses to help you leverage these essential deductions. These include key areas such as: Business Interest Expense Startup and Organization Costs Office and Technology Supplies […]
10 Ways to Prepare Your Business for a Successful 4th Quarter
Fourth-quarter planning is crucial for business owners as it sets the stage for a successful year-end and prepares their businesses for the challenges and opportunities of the upcoming year. Here are some key areas to focus on during your fourth-quarter planning: Budget Assessment: Evaluate your current year’s budget and compare it to actual results. Identify […]
3 Things That Scare Business Owners
What scares small-business owners? According to the survey, they are most worried about: Taxes, Government requirements, and Poor sales. So, what’s a nervous small-business owner to do? Instead of fretting about how government regulations, shutdowns, and debt defaults might affect your bottom line, channel your energy into focusing on what you can control: financial planning, […]
Rev Up Your Tax Savings: Leverage Increased Auto Depreciation Limits in 2024
You may have heard that auto depreciation limitations are getting a boost in 2024, and you’re curious about what that means for you, right? Whether you’re a small business owner, a freelancer, or just someone trying to make sense of tax talk let’s break it down into simple terms, so you can understand how these […]
Should Your Hobby Be a Source of Income?
Do you have a hobby or pastime that brings you incredible joy? Maybe it even earns you a few bucks here and there. It could be painting, photography, gardening, sailing, or flying. Hobbies are a wonderful way to unwind, express creativity, and indulge in a personal interest. Did you know that, in certain circumstances, […]
Maximizing Tax Deductions: IRS Guidelines for Donating Clothing
Donating clothing to charitable organizations is not only an excellent way to declutter your closet, but it can also provide you with valuable tax deductions. However, to ensure you get the most out of your charitable contributions, following the Internal Revenue Service (IRS) guidelines for donating clothing is essential. An Overview Here’s a brief overview […]
