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

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Payroll Tax Implications of New Tax Breaks on Tips and Overtime

Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes that. Tip Income Deduction For 2025–2028, the OBBBA creates a new temporary federal income tax deduction that can offset up to $25,000 of annual qualified

October 6th, 2025|

Using Your Nonprofit’s Endowment to Navigate Financial Obstacles

Even not-for-profits that make realistic budgets and hold adequate funds in reserve to cover shortfalls can run into financial emergencies — particularly if they lose a major funding source. But if your organization has an endowment, its income may be able to help ease cash-flow issues, even long-term ones. Restrictions

October 6th, 2025|

Evaluating Business Decisions Using Breakeven Analysis

You shouldn’t rely on gut instinct when making major business decisions, such as launching a new product line, investing in new equipment or changing your pricing structure. Projecting the financial implications of your decision (or among competing alternatives) can help you determine the right course of action — and potentially

October 6th, 2025|

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|
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