Blog

Inflation and Your Small Business
The U.S. Chamber of Commerce reports that one in three small business owners consider inflation their top concern right now. Inflation worries have driven small business optimism about the...

Business Structure Myths Vs. Facts
Whether you’re new to entrepreneurship or you’ve been in business for years with a full staff and profitable company behind you, the need to evaluate (or re-evaluate) your business structure...

Uncle Sam Just Scored a Mysterious $7B Tax Gift
LinkedIn: Only a handful of known billionaires could be responsible, but there are no obvious suspects. Was it tax planning at its worst or its most brilliant? In one single day this past...

New IRS Warnings on Employee Retention Credit
Just when you thought COVID-era tax breaks were in the past, you get a call from a “tax advisor” who tells you that you may have overlooked a beneficial Employee Retention Credit (ERC)...

Are Texas Business Inventory Tax Changes Ahead?
We’ll soon find out if Texas lawmakers are on board with lowering the state’s notable inventory tax bill for small businesses. Texas lawmakers are contemplating a record-breaking budget surplus...

Don’t Leave R&D Tax Breaks on the Table
If you’re a business owner, there’s no doubt you’ve spent time and money creating better processes, materials, or solutions for your customers. Those activities can lead to big tax breaks, but...

Who Elects Married Filing Separately & Why?
Should you elect married filing separately on your tax returns? The truth is only about 2% of married couples do so. For a select few, however, the election can be quite beneficial. Most...

Responding to an IRS Letter
The IRS just made it easier to respond to a handful of tax notices online, which presents an excellent opportunity to review what a letter from the IRS could mean and how you should respond to...

Awaiting a Tax Refund in 2023?
If you got used to receiving a tax refund in recent years, don’t hold your breath for the same this tax season. While the IRS is better staffed and equipped this year for prompt refunds,...

529 Rollovers to Roth IRAs Coming Soon
Starting in 2024, you can rollover old, unused 529 funds into a Roth IRA as a way to avoid taxes and penalties on the money if it turns out you didn’t need it for a student’s education after...