Jan 22 Time to Get Your 1099s Ready for 2025
If you paid any independent contractors $600 or more during 2025, you're likely required to issue them a 1099-NEC....
Jan 09 IRS Announces Mileage Rate Changes
The Internal Revenue Service has announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026, while the mileage rate for vehicles used for medical purposes will decrease by half a cent, reflecting updated cost data and...
Dec 30 Launching a Company? Understand the Taxes That Come With It!
Starting a business is exciting, but taxes quickly become part of the picture. If you’re opening a business, you’ll encounter multiple types of taxes. Below is a straightforward overview of the most common ones, followed by deductions and credits that can help lower what you...
Dec 11 What’s the Story on Employer ID Numbers?
If you plan to hire employees, operate as a corporation or partnership, or file specific types of tax returns — such as employment or excise or for industries such as alcohol and tobacco — you'll need an EIN....
Oct 16 Are You Eligible for a Home Office Deduction?
If you work from home, you might be eligible to claim a home office deduction. This can help reduce your taxable income by allowing you to write off certain home expenses related to your business use. Here’s what you need to know to determine if...
Oct 16 Turning State Tax Complexities into a Plan for Success: The Role of Trusted Advisors
State tax laws are evolving rapidly, with broadening nexus standards, shifting apportionment rules, aggressive enforcement tactics, and growing divergence from federal standards. As a result, companies operating across multiple U.S. states face an increasingly complex state tax compliance landscape. What was once a manageable state filing...
Aug 07 Freelancers: 4 Key Steps Toward Long-Term Financial Stability
The freelance workforce in the U.S. is growing rapidly. In 2017, 57.3 million Americans freelanced. That number climbed to 73.3 million by 2023, and projections from Statista estimate it will reach 90.1 million by 2028, representing a more than 40% jump in just over a...
Aug 07 Handling a Business Tax Audit
Facing a business audit can be stressful, but it’s important to stay calm and understand why it might be happening. Audits can occur randomly, but they’re often triggered by red flags in tax filings, such as high expense claims, incorrectly classified workers, or unusual deductions....
Aug 07 Key Provisions for Businesses of One Big Beautiful Bill Act
The One Big Beautiful Bill was passed into law on July 4. As with most tax legislation, this bill has an impact on both businesses and individuals. Here are some of the key provisions that will affect businesses. In our next newsletter, we’ll cover the...
Jul 24 Sales Tax Simplified
Sales tax is a consumption-based tax applied to the sale of goods and services, but its structure is anything but uniform across the United States. With varying rates, rules, and exemptions depending on the jurisdiction, navigating sales tax obligations can be a complex but necessary...