What You Should Be Reviewing Now to Avoid Year-End Surprises While it seems like we just finished tax season, we’re nearly halfway through 2025 already. That makes now the perfect time to pause, review your tax position, and make sure you’re on track to avoid any nasty surprises come December. For small and mid-sized businesses, […]
Mid-Year Tax Check-In Read More »
The IRS recently announced the 2026 inflation-adjusted Health Savings Account (HSA) contribution limits. While these may appear as simple line items on a compliance checklist, they present important financial planning opportunities for both business owners and employees. Understanding how these updates can impact your bottom line, employee satisfaction, and even customer spending habits is essential,
What 2026 HSA Limit Increases Mean for Small and Mid-Sized Businesses Read More »
In times of economic instability, not all threats come from shrinking demand or rising costs. Some are far more deceptive, and potentially far more devastating. As the likelihood of a recession increases and financial uncertainty spreads, one type of fraud is making a dangerous comeback: Ponzi schemes. These schemes may not make headlines like they
Ponzi Schemes Are Back in the Spotlight Read More »
If your business still receives government payments by paper check, it’s time to start planning for a change. The U.S. Treasury has announced that nearly all federal payments will be issued electronically by September 30, 2025, marking the end of an era for paper-based transactions. Whether you’re a small retail shop, a growing consultancy, or
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When there’s money in the bank, it’s easy to assume your business is on the right track. You’re paying the bills, making payroll, maybe even investing in new equipment or growth opportunities. But here’s a hard truth: positive cash flow doesn’t always mean your business is profitable. In fact, many small and mid-sized businesses run into
Why Positive Cash Flow Doesn’t Always Mean a Healthy Business Read More »
As a business owner, you’re no stranger to protecting your assets. But outside the walls of your company, personal finances can still be vulnerable, especially with financial scams becoming more sophisticated and widespread. Whether you’ve personally been affected or know someone who has, recent IRS guidance provides a possible path to recoup losses from certain
New IRS Guidance Offers Relief for Scam Victims Read More »
Artificial Intelligence (AI) is changing how we work, search, and manage everyday tasks. From chatbots answering customer service questions to tools that summarize articles or suggest tax strategies, AI is starting to look like a one-stop shop for business help. But when it comes to your company’s financial future? Relying too heavily on AI could
AI vs. Your Accountant: Why Business Owners Need Real Expertise Read More »
When it comes to taxes, misinformation spreads quickly, especially this time of year. Whether it’s advice from a well-meaning friend, something you saw online, or just assumptions based on outdated rules, tax myths can lead to costly mistakes. As a small or mid-sized business owner, understanding tax laws is essential to keeping your finances in
Debunking Common Tax Myths for Small Business Owners Read More »
On February 20, 2025, the IRS fired approximately 6700 people during its busiest time of the year, which will likely lead to some challenges for taxpayers. So, how will this impact you and other taxpayers? We, of course, aren’t sure, but here are some things to consider. Understanding the Current Situation IRS staffing fluctuations and
How IRS Staffing Decreases Could Impact You & Your Business Read More »
The Beneficial Ownership Information (BOI) reporting requirement under the Corporate Transparency Act (CTA) is officially back in effect, with a new compliance deadline of March 21, 2025. This follows a recent court decision reversing a previous hold, meaning businesses once again need to comply. While this requirement could face further legal challenges, the safest course of action is to go ahead
BOI Filing Deadline Reinstated Read More »
In 2025, IRS-related scams have become increasingly sophisticated, posing significant threats to taxpayers. Fraudsters continually adapt their tactics – and take advantage of AI tools – making it crucial to stay informed about prevalent schemes and protective measures. Common IRS Scams in 2025 Phishing Emails and Texts: Scammers send fraudulent messages impersonating the IRS, urging
IRS Scams Are on the Rise in 2025 Read More »
The IRS has updated its depreciation limits for business vehicles in 2025, and for the first time in three years, those limits have actually gone down. These changes, which adjust for inflation, impact how small businesses deduct vehicle expenses and manage their tax planning. Here’s what you need to know. Lower Depreciation Limits for Purchased Vehicles Each
IRS Announces 2025 Depreciation Limits for Business Vehicles Read More »