Year-End Tax Planning for Accrual-Basis Taxpayers
Year-end tax planning can be more challenging for accrual-basis businesses. But some powerful strategies are available.
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Business Tax
How the Social Security Wage Base Will Affect Your Payroll Taxes in 2026
The Social Security tax rate is 6.2%, or twice that if you’re self-employed. Find out if you’ll have to pay Social Security tax on all your wages and self-employment income in 2026.
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New Tax-Saving Opportunities May Attract Funding for Manufacturers That Build in Rural Qualified Opportunity Zones
If your manufacturing company is considering building a facility in a rural area, doing so in a Qualified Opportunity Zone may be beneficial.
Receive $10,000 in Cash at Your Business? The IRS Wants to Know About It
Did your business receive more than $10,000 in cash? You may be required to file Form 8300 with the IRS. Learn what counts as “cash” and how to stay compliant.
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Larger QBI Deductions Will Soon Be Available to Many Manufacturers
OBBBA makes the Section 199A QBI deduction permanent and expands phase-in ranges beginning in 2026—steps that can boost deductions for many pass-through manufacturers. See what’s changing and how to plan.
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Run a Business With Your Spouse? You May Encounter Unique Tax Issues
Spouse-run businesses face unique tax pitfalls. Learn how partnership treatment drives SE tax and compare three strategies—community property sole prop, S-corp conversion, or hire-spouse approach—to cut exposure while staying compliant.
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New Rules Could Boost Your R&E Tax Savings in 2025
The One Big Beautiful Bill Act (OBBBA) reinstated the immediate deduction for U.S.-based R&E expenses effective for 2025.
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New Tax Law Creates An Additional Accelerated Depreciation Opportunity For Eligible Manufacturers
The One Big Beautiful Bill Act (OBBBA) introduces a new — but temporary — tax break for manufacturers. The qualified production property (QPP) allowance gives manufacturers a strong incentive to make capital investments in new production facilities. Here’s what you need to know. Bonus depreciation for QPP Generally, first-year bonus depreciation is limited to tangible property with a recovery period of 20 years or less. But the OBBBA adds Section 168(n) to
A Tax Guide to Choosing the Right Business Entity
One of the most critical decisions entrepreneurs make when starting or restructuring a business is choosing the right entity type. This choice directly impacts how the business is taxed, the level of administrative complexity and regulatory compliance obligations. While legal liability considerations also matter, we will focus on tax implications. For liability advice, consult a legal professional. Whether launching a new venture or reassessing your current structure, understanding how each entity is taxed can help you make strategic and compliant decisions. Here’s a brief overview of five
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Lower Your Self-Employment Tax Bill by Switching to an S Corporation
If you own an unincorporated small business, you may be frustrated with high self-employment (SE) tax bills. One way to lower your SE tax liability is to convert your business to an S corporation. SE tax basics Sole proprietorship income, as well as partnership income that flows through to partners (except certain limited partners), is subject to SE tax. These rules also apply to single-member LLCs that are treated as sole proprietorships for federal tax purposes and multi-member LLCs that are treated as partnerships for federal tax purposes. In 2025, the maximum
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