Interest paid or accrued by a business is generally deductible for federal tax purposes. But limitations apply. Now some changes under the One Big Beautiful … [Read more...]
New law eases the limitation on business interest expense deductions for 2025 and beyond
December 9, 2025 by Jeff Rislov
Checking off RMDs on the year-end to-do list
December 9, 2025 by Mitchell Erickson
You likely have a lot of things to do between now and the end of the year, such as holiday shopping, donating to your favorite charities and planning … [Read more...]
The IRS releases 2026 contribution limits
November 24, 2025 by Jen Burnett
With Notice 2025–67, the IRS has issued its 2026 inflation-adjusted retirement plan contribution limits. Although the changes are more modest than in recent … [Read more...]
New itemized deduction limitation will affect high-income individuals next year
November 18, 2025 by Mitchell Erickson
Beginning in 2026, taxpayers in the top federal income tax bracket will see their itemized deductions reduced. If you’re at risk, there are steps you can take … [Read more...]
Minimize your business’s 2025 federal taxes by implementing year-end tax planning strategies
November 18, 2025 by David Corneil
The One Big Beautiful Bill Act (OBBBA) shifts the landscape for year-end tax planning. The law has significant implications for some of the most tried-and-true … [Read more...]
New deduction for QPP can save significant taxes for manufacturers and similar businesses
November 17, 2025 by Jim Rudnick
The One Big Beautiful Bill Act (OBBBA) allows 100% first-year depreciation for nonresidential real estate that’s classified as qualified production property … [Read more...]
Bar the back door: Preventing retail inventory theft
November 17, 2025 by Annette Benson
When your retail store closes for the day, does some of your merchandise walk out the back door? “Shrinkage” generally occurs when employees, customers or … [Read more...]
What you need to know about deducting business gifts
November 10, 2025 by Jon Hinderks
Thoughtful business gifts are a great way to show appreciation to customers and employees. They can also deliver tax benefits when handled correctly. … [Read more...]
Reevaluate the Standard Deduction
November 7, 2025 by Jeff Rislov
Taxpayers can choose to itemize certain deductions or take the standard deduction based on their filing status. Itemizing deductions saves tax if the total … [Read more...]
Manage Your MAGI
November 7, 2025 by David Corneil
MAGI (Modified Adjusted Gross Income) is the trigger for certain additional taxes and the phaseouts of many tax breaks, including some of the newest deductions. … [Read more...]
