Bonnie Buol Ruszczyk

Cyber security software show alert of cyber attack for protection snugly. Danger from virus, phishing and cyber fraud.

That “Official” Filing Notice in Your Mailbox? It May Not Be What It Seems

Bailey Scarano Blog / By

Key Takeaways Some business owners are receiving official-looking mail tied to “beneficial ownership” filings These notices are not coming from the government Most businesses are not currently required to take action The goal is to fraudulently collect payment and sensitive information It’s worth verifying before responding to any unexpected request If you’ve received a formal-looking

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tax planning meeting

Why Filing Your Taxes Is Only Part of the Story

Bailey Scarano Blog, Tax & Money Tips / By

Key Takeaways Tax preparation is backward-looking; by filing time, most decisions are already set. Tax planning happens throughout the year, when there is still time to influence outcomes. Increasing complexity in tax rules makes proactive planning more valuable than ever. Treating taxes as a once-a-year task often leads to missed opportunities and higher liability. Major

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What Actually Changed for 2025 Taxes (And What Headlines Are Getting Wrong)

Bailey Scarano Blog, Tax & Money Tips / By

Key Takeaways Headlines like “no tax on overtime” and “no tax on tips” are oversimplified, and most benefits are partial, capped, and subject to income phase-outs. Overtime tax relief applies only to the premium portion (the “half-time”), not the full overtime pay, and may phase out at higher income levels. Tip income deductions are limited

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Hand is holding phone with irs scam calls.

Protect Yourself from Common Tax Scams This Season

Bailey Scarano Blog, Tax & Money Tips / By

Key Takeaways The IRS does not contact taxpayers by phone, text, or email; initial communication is always by mail. Scam calls often use urgency and fear to push individuals into sharing personal or financial information. Official-sounding company names do not mean a call is legitimate; many scams use fabricated or misused identities. Never provide sensitive information or

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Understanding the 2026 Vehicle Lease Inclusion Rule

Bailey Scarano Blog, Tax & Money Tips / By

Key Takeaways The IRS lease inclusion rule slightly reduces deductions for certain leased business vehicles. The adjustment exists to keep the tax treatment of leasing and purchasing vehicles relatively consistent. The lease inclusion amount depends on the vehicle’s value, the year of the lease, and IRS inclusion tables. As with purchased vehicles, deductions depend on the percentage of business use.

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Business partners reviwing 2026 pricing

Every Business Should Conduct an Annual Pricing Review

Bailey Scarano Blog, Tax & Money Tips / By

Key Takeaways Conducting an annual pricing review helps small and mid-sized businesses maintain healthy profit margins as costs change. Pricing decisions should consider operating costs, economic conditions, tariffs, and supply chain pressures. Reviewing competitor pricing and market positioning helps businesses stay competitive while protecting profitability. Analyzing profitability by product or service line can reveal opportunities

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employees enjoying lunch together

Employee Meals, Perks, and Tax Deduction Changes Every Small Business Owner Should Know for 2026

Bailey Scarano Blog, Tax & Money Tips / By

Key Takeaways Beginning in 2026, many employer-provided meals such as breakroom snacks and on-site lunches are no longer tax deductible under updated IRS rules. Business meals with clients and meals during overnight travel remain 50% deductible when properly documented. Certain events, such as company-wide celebrations or meals treated as taxable compensation, may still qualify for

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Close-up of a businesswoman's hand with a pencil writing something.

Your Tax Return Isn’t a Measure of Success

Bailey Scarano Blog, Tax & Money Tips / By

Key Takeaways A large tax refund or low tax bill does not automatically indicate financial success. Tax returns are backward-looking and limited in what they reveal about cash flow, profitability, and long-term stability. Business success is better measured by factors like sustainable cash flow, retained earnings, and strategic planning. Over-focusing on minimizing taxes can obscure

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Tax credits inscription and page with financial calculations.

Is Your Business Really Eligible for R&D Credits

Bailey Scarano Blog, Tax & Money Tips / By

Key Takeaways The federal R&D tax credit is legitimate but far narrower than many promoters suggest. Qualifying activities must meet the IRS’s strict four-part test, including technical uncertainty and experimentation. Routine improvements, off-the-shelf technology adoption, and standard process changes generally do not qualify. The IRS is closely scrutinizing R&D claims, particularly those pushed by aggressive

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baby with piggy bank

Evaluating Trump Accounts in Your Financial Plan

Bailey Scarano Blog / By

Key Takeaways Trump Accounts are a new federal, tax-advantaged savings option for children, available starting with the 2026 tax season. Eligible children (born 2025–2028) may receive a one-time $1,000 federal contribution when an account is opened. Annual contributions are generally capped at $5,000 per child and may come from parents, relatives, and in some cases

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Tax forms 1040. U.S Individual Income Tax Return in an brown envelope on a desk. Time to pay tax in year.

Why the Postmark Change Is a Wake-Up Call for Business Tax Planning

Bailey Scarano Blog / By

Key Takeaways Recent changes to how mail is processed make last-minute filing riskier than many business owners realize. The postmark issue highlights a larger problem: tax season leaves little room for delays or missing information. Small and mid-sized businesses face added complexity around payroll, cash flow, and ownership decisions. Sharing information with your CPA early

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Business growth forecast highlights increasing trends new year 2026. Growth forecast data, growth forecast strategy, and growth forecast planning are key elements.

What Business Owners Should Think Through Before They Grow in 2026

Bailey Scarano Blog / By

Key Takeaways Growth transactions introduce long-term tax and cash-flow consequences that aren’t always obvious upfront. How a deal is structured affects deductions, reporting, and future flexibility. Timing matters—especially for equipment, build-outs, and new hires. Expansion often increases scrutiny around documentation, payroll, and depreciation. Early planning with your CPA can prevent years of avoidable complexity. Growth

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