Blog
The 2025–2026 “High-Low” Per Diem Business Travel Rates Are Here
If you have employees who travel for business, you know how frustrating it can be to manage reimbursements and the accompanying receipts for meals, hotels and incidentals. To make this process easier, consider using the “high-low” per diem method. Instead of tracking every receipt, your business can reimburse employees using
The Power of Catch-Up Retirement Account Contributions After 50
Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s). And these contributions are more valuable than you may think. IRA Contribution Amounts For 2025, eligible taxpayers can make contributions to a traditional or Roth IRA
Is a Custodial Account Right For Your Family?
If you’re considering opening an investment account for your minor child or grandchild to help him or her save for the future, a custodial account can be a useful option. Indeed, for many families, a custodial account strikes the right balance between gifting assets to a child and maintaining oversight
Grant Proposals In The Age of AI
With fewer federal grants available to not-for-profit organizations, the competition to qualify for funding — from all sources, including foundations — has become more intense. Now, more than ever, your nonprofit needs to submit sharp, clear and attention-getting grant proposals to potential funders. Many organizations are enlisting AI tools to
New Rules Could Boost Your R&E Tax Savings in 2025
A major tax change is here for businesses with research and experimental (R&E) expenses. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) reinstated the immediate deduction for U.S.-based R&E expenses, reversing rules under the Tax Cuts and Jobs Act (TCJA) that required businesses to capitalize and amortize these
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
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
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
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
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.