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Business people gathered around a desk in a modern office, discussing documents. The atmosphere is professional, emphasizing teamwork and collaboration among business workers.

Five Tax-Related Conversations Business Owners Should Be Having Now

Bailey Scarano Blog / By

Key Takeaways Recent tax law changes make this a good time to revisit equipment purchases and capital investments. Review whether your current business structure still aligns with your tax and business goals. Consider whether changes to charitable giving rules warrant a new giving strategy. Strong accounting processes make tax planning and business decision-making more effective. […]

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Business risks in the business. Requires planning Meditation must be careful in deciding to reduce the risk in the business. As the game drew to a wooden block from the tower

The Business Risks You May Be Overlooking

Bailey Scarano Blog / By

Key Takeaways Many of the biggest business risks come from internal processes, not external events. Relying too heavily on one employee, customer, or supplier can create unnecessary vulnerability. Strong internal controls help protect assets, reduce errors, and improve financial confidence. Regularly reviewing workflows and documenting processes strengthens business continuity. Building resilience means preparing your business

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Before Reacting to Headlines, Look at Your Numbers

Bailey Scarano Blog / By

Key Takeaways  National headlines provide context, but your financial statements tell the story of your business. Revenue alone doesn’t measure financial health; profitability, cash flow, and expenses matter too. Regularly reviewing your financial reports helps you make more informed hiring, pricing, and investment decisions. Strong cash flow management often identifies challenges before they become larger

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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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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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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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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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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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Year Plan 2026 in blocks over budget

2026 Business Tax Deductions: What Still Works, What’s Evolving, and How to Plan Ahead

Bailey Scarano Blog / By

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 more than ever when it comes to depreciation and expensing. The IRS is placing greater emphasis on consistency, substantiation, and recordkeeping. The most effective tax

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