Tax Planning

The One, Big, Beautiful Bill could change the deductibility of R&E expenses

A, close-up, of, a, microscope, being, used, in, a, laboratory, setting, with, a, gloved, hand, adjusting, the, microscope, highlighting, a, research, or, scientific, environment. Overlaying, the, image, are, various, science, and, technology, icons, including, symbols, for, health, chemistry, DNA, and, innovation, which, emphasize, research, medical, and, technological, advancements. The, lighting, effect, under, the, microscope, lens, draws, attention, to, active, scientific, exploration.
June 16, 2025
H&B
0
The treatment of research and experimental (R&E) expenses is a high-stakes topic for U.S. businesses, especially small to midsize companies focused on innovation. As the tax code currently stands, the deductibility of these expenses is limited, leading to financial strain for companies that used to be able to expense them immediately. But proposed legislation dubbed […]
#REExpenses, #ResearchAndDevelopment, #Section174
Find Out More
Tax Planning

Tax breaks in 2025 and how The One, Big, Beautiful Bill could change them

The, picture, shows, a, surprised, or, wide-eyed, child's, face, surrounded, by, scattered, U.S., hundred-dollar, bills, quarters, dimes, nickels, and, pennies. The, child’s, expression, suggests, amazement, shock, or, excitement, as, they, peek, through, the, pile, of, money, and, coins.
June 11, 2025
H&B
0
The U.S. House of Representatives passed The One, Big, Beautiful Bill Act on May 22, 2025, introducing possible significant changes to individual tax provisions. While the bill is now being considered by the Senate, it’s important to understand how the proposals could alter key tax breaks. Curious about how the bill might affect you? Here […]
#TaxLaw, #TaxPlanning, #TaxUpdates
Find Out More
Tax Planning

Digital assets and taxes: What you need to know

Digital,assets,business,management,system,concept,on,modern,city,background.
May 28, 2025
H&B
0
As the use of digital assets like cryptocurrencies continues to grow, so does the IRS’s scrutiny of how taxpayers report these transactions on their federal income tax returns. The IRS has flagged this area as a key focus. To help you stay compliant and avoid tax-related complications, here are the basics of digital asset reporting. […]
#CryptocurrencyReporting, #CryptoTax, #DigitalAssets, #IRSCompliance
Find Out More
Tax Planning

How working in the gig economy affects your taxes

Image, shows, bold, text, "The, Gig, Economy,", with, the, note, "Don't, forget, taxes!", alongside, gears, symbolizing, the, moving, parts, and, tax, responsibilities, of, gig, work.
May 21, 2025
H&B
0
The gig economy offers flexibility, autonomy and a way to earn income, but it also comes with tax obligations that can catch many workers off guard. Whether you’re driving for a rideshare service, delivering food, selling products online or offering local services like pet walking, it’s crucial to understand the tax implications of gig work […]
#EstimatedTaxes, #SelfEmploymentTax, #TaxPlanning
Find Out More
Tax Planning

Corporate business owners: Is your salary reasonable in the eyes of the IRS?

Saving,money,and,growing,capital,financial,concept.,increase,wealth,,income,
May 5, 2025
H&B
0
Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, it may disallow certain deductions or reclassify payments, potentially leading to penalties, back taxes and interest. But by proactively following certain steps, owners can help ensure their compensation is seen […]
#BusinessTax, #IRSCompliance, #SmallBusinessTips, #TaxPlanning
Find Out More