401(k) Plans

The power of catch-up retirement account contributions after 50

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September 17, 2025
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Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s). And these contributions are more valuable than you may think. IRA contribution amounts For 2025, eligible taxpayers can make contributions to a traditional or Roth IRA of up to the lesser […]
#FinancialFreedom, #RetirementPlanning, #WealthBuilding
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Tax Planning

Receive $10,000 in cash at your business? The IRS wants to know about it

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September 15, 2025
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Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return. Here are some answers to questions you may have. What are the requirements? Although many cash transactions are legitimate, the IRS explains that the […]
#Form8300, #IRSCompliance, #TaxReporting
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Tax Planning

Run a business with your spouse? You may encounter unique tax issues

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September 8, 2025
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Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue An unincorporated business with your spouse is classified as a partnership for federal income tax purposes, unless you can avoid that treatment. Otherwise, you must file an annual partnership return using Form 1065. […]
#SelfEmploymentTax, #TaxPlanning, #TaxSavings
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Tax Planning

New rules could boost your R&E tax savings in 2025

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September 5, 2025
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A major tax change is here for businesses with research and experimental (R&E) expenses. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) reinstated the immediate deduction for U.S.-based R&E expenses, reversing rules under the Tax Cuts and Jobs Act (TCJA) that required businesses to capitalize and amortize these costs over five years (15 years […]
#BusinessTaxPlanning, #REExpenses, #TaxSavings2025
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Business Planning & Consulting

5 ways your business can build a stronger annual budget

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September 3, 2025
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As summer gives way to fall, many businesses begin their budget-setting processes for the upcoming year. This annual rite of passage can be stressful, contentious and, perhaps worst of all, disappointing if your budgets often fail to achieve their objectives. The good news is that there are many ways to enhance your company’s budgeting process […]
#BudgetingTips, #BusinessPlanning, #FinancialPlanning, #SmartBusiness
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Tax Planning

Teachers and others can deduct eligible educator expenses this year — and more next year and beyond

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September 2, 2025
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At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But teachers are also buying school supplies for their classrooms. And in many cases, they don’t receive reimbursement. Fortunately, they may be able […]
#EducatorExpenses, #TaxPlanning, #TaxTips, #TeacherTaxDeduction
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