As you determine what business expenses you can write off on your tax return, keep in mind the “ordinary and necessary” rule.
Small Business
Your Weekly Read
6 last-minute tax planning tips for businesses
Year-round tax planning generally produces the best results, but there are some steps you can take in December to lower your 2025 taxes.
New deduction for QPP can save significant taxes for manufacturers
Could your manufacturing business qualify for the 100% bonus depreciation on new qualified production property?
How small business owners can deduct real estate improvements
Recent tax law changes have significantly enhanced first-year depreciation tax breaks for real estate improvements
How to help protect your business expense deductions
To help justify your business expenses, it’s important to keep careful business records. Here are some DOs and DON’Ts based on a recent court case.
Safe harbor 401(k)s offer businesses a simpler route to a retirement plan
Considering a retirement plan for your business but are concerned with plan administration? A safe harbor 401(k) may be the right choice.
Tax Court case provides lessons on best recordkeeping practices for businesses
Recordkeeping may not be glamorous, but it’s one of the most powerful tools to protect your business and maximize tax benefits.
A tax guide to choosing the right business entity
Your choice of entity could make or break your tax strategy. Here’s a quick rundown of five entity types and their tax implications.
Payroll tax implications of new tax breaks on tips and overtime
The One Big Beautiful Bill Act creates new limited deductions for tips and overtime income through 2028. Find out if you qualify.
How businesses can fund a buy-sell agreement
Do you have a buy-sell agreement for your company? If so, is it properly funded? Here’s why life insurance is a popular choice.
OBBBA includes new 1099 reporting requirements for 2026 payments
The One Big Beautiful Bill Act finally increases the 1099 reporting threshold from $600 to $2,000 for payments made in 2026.
The QBI deduction and what’s new in the One, Big, Beautiful Bill Act
The QBI deduction is a valuable tax break for eligible small business owners. Here’s a look at the tax break and how it changes under OBBBA.
Read something interesting? Want more information? Give us a call, and we will be happy to assist you in any way we can.
144 W 2nd St
Washington, NC 27889
Washington, NC 27889
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