All in the Family: When Relatives Work in Your Business Family-run businesses are part of the backbone of the American economy. Whether you are starting out or running an established business, it’s natural to lean on relatives. You know...
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How To Retire Gradually From Your Business Retiring from a business you founded isn’t like leaving a job. It’s a personal, financial and emotional process that takes time and coordination. Whether you want to sell, pass the business to...
Bonus Depreciation Under the OBBBA Depreciation is the tax process of spreading the cost of an asset over the years it is expected to be useful. Bonus depreciation is different: It is a tax incentive that allows businesses to...
The Augusta Rule: A Special Tax Break Originally created to protect the residents in Augusta, Georgia, who rented out their homes to attendees of the annual Masters Tournament, the Augusta Rule dates back to the 1970s. At that time,...
Do You Qualify for a Home Office Deduction? Good news if you have a home office! You may be able to deduct expenses related to the business use of part of your home if you use it: Principal place...
OBBBA: Learning the Deduction Details The OBBBA law is long, but the IRS has summarized some of the most significant provisions: No tax on tips Effective for 2025 through 2028, employees and self-employed individuals may deduct qualified tips received...
How to Deduct Business Travel Expenses Ordinary and necessary travel expenses are deductible when you travel away from home on business. You are considered to be traveling away from home if: In order to be deductible, the expense must...
The OBBBA: An Overview of Major Provisions The One Big Beautiful Bill Act became law on July 4, 2025. The new law, which is generally regarded as pro-business, contains significant tax changes for businesses and individual taxpayers alike. Here...
Why a Business Credit Card Might Be Right for You At a basic level, business and personal credit cards are very similar: both are forms of short-term loans that must be paid off monthly. If you miss a payment,...
Choosing the Right Business Structure: LLCs, Corporations, and More Choosing the right business format is a critical step in establishing your business venture. Each structure has unique features, from tax implications to liability protections, that can significantly impact your...