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2026 Business Tax Deductions: What Still Works, What’s Evolving, and How to Plan Ahead
Key Takeaways Many high-impact business deductions remain available in 2026, but documentation standards continue to tighten. Mileage, equipment, payroll, retirement, and professional fees are still powerful—if tracked correctly. Timing matters […]
Are GoFundMe Donations Tax Deductible?
Crowdfunding has become one of the most common ways for families, small businesses, and communities to support people in need. Whether it’s helping a neighbor with medical bills, assisting a […]
2026 Inflation Adjustments to Retirement Limits
Key Takeaways Retirement contribution limits are increasing across 401(k), IRA, and other plans beginning in 2026. Higher caps offer business owners more room for tax-advantaged savings and stronger retention tools […]
The Student Loan Forgiveness Tax Change That Could Blindside You in 2026
Key Takeaways A major tax change is coming: student loan forgiveness under IDR becomes taxable again starting January 1, 2026, unless Congress extends current relief. Borrowers nearing the 20- or […]
The Fed Lowers Interest Rates for Second Straight Time
Key Takeaways The Fed’s recent rate cut to around 3.75-4% makes borrowing and refinancing more affordable for Connecticut businesses. Lower rates can boost consumer spending and business confidence, offering potential […]
Your Business & the Government Shutdown
Key Takeaways The IRS remains open during the shutdown, but processing refunds and correspondence is significantly slower. Businesses should expect cash-flow disruptions if clients rely on government contracts or regulated […]
New Tax Brackets, Bigger Deductions, and More: Inside the 2026 IRS Adjustments
Key Takeaways The IRS has released inflation-adjusted increases for more than 60 tax provisions for Tax Year 2026 (returns filed in 2027). The standard deduction for married filing jointly rises to $32,200, and other filing statuses also […]
What the IRS Shutdown Means for Connecticut Businesses
Key Takeaways Nearly half of IRS employees were furloughed on October 8, 2025, as the government shutdown entered its second week. The agency continues to process electronic filings and payments, but most […]
The IRS Has Gone Paperless
Key Takeaways Paper refund checks are history. As of September 30, 2025, the IRS began phasing out paper refund checks in favor of electronic payments, making refunds faster, safer, and […]
The Roth Catch-Up Rule: What Business Owners Should Know
Key Takeaways Roth-only catch-ups begin in 2026. Under the SECURE 2.0 Act, employees earning more than $145,000 will be required to make all catch-up contributions to a Roth account, meaning taxes […]
Don’t Fall for Fake Tax Advice
Key Takeaways The IRS is cracking down on bad tax advice. Connecticut business owners should be cautious of social media “hacks” and AI-generated tips which can lead to rejected claims, […]
Five Year-End Tax Strategies Every Connecticut Business Should Consider
As summer winds down, these final months give business owners a chance to do more than close the books; they provide an opportunity to reduce taxes, strengthen cash flow, and […]