Blog2025-03-17T15:14:19-06:00

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Divorcing as a Business Owner? Don’t Let Taxes Derail Your Settlement

Divorce is stressful under any circumstances, but for business owners, the process can be even more complicated. Your business ownership interest is often one of your largest personal assets, and in many cases, part or all of it will be considered marital property. Understanding the tax rules that apply to

September 29th, 2025|

Teachers and Others Can Deduct Eligible Educator Expenses This Year — and More Next Year and Beyond

At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But teachers are also buying school supplies for their classrooms. And in many cases, they don’t receive reimbursement.

September 29th, 2025|

A Family Business Owner Needs Both an Estate Plan and a Succession Plan

For family business owners, an estate plan and a succession plan often work in tandem, ensuring that both personal and business affairs transition smoothly. Your estate plan can help ensure that your assets are distributed according to your wishes and provide contingencies in the event of your death or disability

September 29th, 2025|

How to Keep Cost Cutting From Increasing Fraud Risk

In the process of slashing expenses? Just be careful not to cut essential items, such as sufficient staffing to maintain strong internal controls, from your not-for-profit’s budget. Internal controls are critical for preventing occupational theft. Cybersecurity is something else your organization can’t afford to do without. The good news is

September 29th, 2025|

Investing in Qualified Small Business Stock Now Offers Expanded Tax Benefits

By purchasing stock in certain small businesses, you can diversify your investment portfolio. You also may enjoy preferential tax treatment, some of which is getting even better under the One Big Beautiful Bill Act (OBBBA) that was signed into law in July: Qualified small business (QSB) stock now offers more

September 23rd, 2025|

Accounting Mistakes Nonprofits Should Try to Prevent

It may be tempting to try to save money and perform your nonprofit’s accounting tasks internally. But if your staff isn’t experienced and properly trained, mistakes are likely to occur — with potentially serious repercussions. Some accounting mistakes are common among newer nonprofits and smaller organizations that attempt to go

September 23rd, 2025|

Switch to an S Corp to Lower Your Self-Employment Tax Bill

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. Self-Employment Tax Basics Sole proprietorship income, as well as partnership income that flows through to partners (except

September 8th, 2025|

Understand How POD and TOD Accounts Affect Your Estate Planning

Payable-on-death (POD) and transfer-on-death (TOD) accounts are attractive estate planning tools because they allow assets to pass directly to named beneficiaries without going through probate. This can save time, reduce administrative costs and provide your beneficiaries with quicker access to their inheritance. However, there are drawbacks to using these accounts.

September 8th, 2025|
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