Tax Planning

More individuals with disabilities will be eligible for tax-advantaged ABLE accounts in 2026

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December 29, 2025
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Did you know there’s a tax-advantaged way to save for the expenses of a person with a disability that’s similar to saving for college expenses with a Section 529 plan? Achieving a Better Life Experience (ABLE) accounts can help fund qualified disability expenses for an eligible beneficiary. The SECURE 2.0 Act, signed into law in […]
#FinancialPlanning, #IndividualTaxPlanning, #TaxPlanning
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Tax Planning

Avoiding inadvertent S corp termination

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December 23, 2025
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S corporation structure provides most of the tax benefits of a partnership plus the liability protection of a corporation. But because of the strict requirements that apply to these entities, preserving S corporation status requires due diligence. Reap the benefits Like a traditional C corporation, an S corporation shields its shareholders from personal liability for the corporation’s […]
#BusinessTax, #SCorporation, #TaxPlanning
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Tax Planning

New law eases the limitation on business interest expense deductions for 2025 and beyond

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December 10, 2025
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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 Bill Act (OBBBA) will result in larger deductions for affected taxpayers. Limitation basics The deduction for business interest expense for a particular tax year is generally limited to 30% of […]
#BusinessInterestExpense, #OBBBA, #TaxUpdates
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Tax Planning

How will taxes affect your merger or acquisition?

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November 25, 2025
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Whether you’re selling your business or acquiring another company, the tax consequences can have a major impact on the transaction’s success or failure. So if you’re thinking about a merger or acquisition, you need to consider the potential tax impact. Asset sale or stock sale? From a tax standpoint, a transaction can basically be structured […]
#BusinessSale, #MergersAndAcquisitions, #TaxStrategy
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Tax Planning

New itemized deduction limitation will affect high-income individuals next year

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November 21, 2025
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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 before the end of 2025 to help mitigate the negative impact. The new limitation up close Before the Tax Cuts and Jobs Act (TCJA), certain itemized deductions of […]
#ItemizedDeductions, #TaxPlanning, #TaxUpdate2026
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Tax Planning

New deduction for QPP can save significant taxes for manufacturers and similar businesses

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November 19, 2025
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The One Big Beautiful Bill Act (OBBBA) allows 100% first-year depreciation for nonresidential real estate that’s classified as qualified production property (QPP). This new break is different from the first-year bonus depreciation that’s available for assets such as tangible property with a recovery period of 20 years or less and qualified improvement property with a […]
#BusinessTaxUpdate, #DepreciationRules, #TaxPlanning
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