Blog
What Tax Cuts & the Economy Might Look Like in 2025
With Donald Trump’s return to the White House and Republicans gaining control of Congress, significant tax cuts and economic changes appear to be on the horizon for 2025. Let’s look at what we...
Texas Franchise Tax Reminders
The Texas franchise tax exemption nearly doubled to $2.47 million in 2024, and many businesses are breathing a sigh of relief. But we’ve noticed some confusion about who qualifies and what...
Corporate Transparency Act & Your Beneficial Ownership Obligations
You’re not a crook, but the federal government isn’t just going to take your word for it. That’s why the U.S. Corporate Transparency Act (CTA) was conceived. With the CTA’s new beneficial...
Falling Interest Rates and Your Small Business
The Federal Reserve has begun lowering interest rates for the first time in four years. Is it a game changer for small businesses? Is it too early to tell? Here’s what history and current...
Beware of Offer-in-Compromise (OIC) Scams
The IRS Offer-in-Compromise (OIC) program can be a great opportunity if you owe the IRS money you don’t have. However, some scam artists are getting in on the action and “selling” OICs that...
7 Reasons to Itemize Deductions
There’s good reason 90% of taxpayers claim the standard deduction: It more than covers what most Americans can deduct on their own. However, in certain years, some taxpayers may want or need to...
ERC Voluntary Disclosure Temporarily Returns
The IRS has announced a limited-time reopening of its Voluntary Disclosure Program (VDP) for businesses that incorrectly claimed Employee Retention Credit (ERC). It’s a chance for businesses...
Your Social Security Number Is at Heightened Risk for Theft
You can safely assume that, in one form or another, your personal data has been leaked online. If it wasn’t apparent before, it’s undoubtedly become clear with the revelation that nearly 3...
The Tax Benefits of a Net Operating Loss (NOL)
Business losses can occur for a variety of reasons. They could be the result of financial challenges, but losses can also happen when you take chances, expand, or grow in ways that are...
Dangers of AI-Powered Chatbot Tax Advice
TurboTax and H&R Block started using artificial intelligence (AI) chatbots to give tax advice. The potential results? Dramatically inaccurate tips that could lead to an audit. Consider this...