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Not all business expenses are tax deductible
As you determine what business expenses you can write off on your tax return, keep in mind the “ordinary and necessary” rule.
Checking off RMDs on the year-end to-do list
RMDs usually must be taken by December 31. If you don’t comply, you can owe a penalty equal to 25% of the amount you should have withdrawn.
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.
There’s still time to reduce your 2025 income tax
Just because it’s December doesn’t mean it’s too late to reduce your 2025 tax liability. Consider implementing these ideas before Dec. 31.
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?
Boost your tax savings by donating appreciated stock instead of cash
Are you charitably inclined and looking for a powerful year-end tax-saving strategy? Consider donating appreciated publicly traded stock.
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
Is an HSA a financially smart health care option for you?
Health Savings Accounts offer several valuable tax benefits. But you can contribute to an HSA only if you have a high-deductible health plan.
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.
Digital assets and taxes: What you need to know
Curious how your crypto, NFTs or stablecoins could impact your taxes? We break down IRS rules and how to report digital asset transactions.
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.
Read something interesting? Want more information? Give us a call, and we will be happy to assist you in any way we can.
Washington, NC 27889
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