Boost Your Business with 2026 Childcare Tax Credit Expansion
The One Big Beautiful Bill Act (OBBBA) dramatically expanded the employer childcare credit starting in 2026, turning a modest tax break into a significant planning opportunity for many businesses. The employer childcare credit allows businesses to claim a general business tax credit for qualified childcare expenses paid for employees. Qualifying costs include Businesses do not […]
Why It’s Important to Review Your Tax Return Carefully
I prepare your tax returns with care, transparency, and integrity. I do not commit fraud, and I never cut corners. Still, I want you to understand a growing risk that affects taxpayers everywhere: dishonest tax preparers exist, and their misconduct can haunt clients for decades. Recent court cases show a troubling reality: When a tax […]
Navigating USPS Postmark Policies to Ensure Timely Tax Return Submission
For decades, taxpayers trusted a simple rule: if you mailed a tax return or payment by the deadline, the IRS treated it as timely filed, relying on USPS postmarks on tax returns. Recent U.S. Postal Service (USPS) practices have changed that reality and created a serious trap for anyone who relies on last-minute mailing. What […]
An Overview of Section 318 Attribution Rules for Business Owners
Many taxpayers assume that tax law looks only at the stock they actually own. Section 318 proves that assumption wrong. The Section 318 attribution rules can treat you as owning business interests you never purchased, simply because of family relationships, entity ownership, or even stock options. When that happens, your tax results can change dramatically. What […]
S Corporation Strategies for Commissions: What Every Business Owner Needs to Know
We continue to see aggressive advice circulating about routing personal commissions through an S corporation to reduce self-employment tax. This strategy sounds attractive, but it fails under long-standing tax law and creates significant audit risk. Consider a common setup: An individual earns commissions under contracts issued in his personal name. He holds the required state […]
An Overlooked Tax Deduction for Mileage-Reimbursed Employees
If you receive mileage reimbursements from your employer or your corporation, you may face an unexpected tax result when you sell or trade your vehicle. Many employees assume that mileage reimbursements end the tax story. That assumption often leads taxpayers to miss a valuable deduction—or to get blindsided by a taxable gain. Hopefully this positive example […]
Gave a Gift? Here’s When You Need to File a Gift Tax Return
The givers of gifts (donors), not the recipients (donees), file gift tax returns. If you give money or property, you may be legally required to file a gift tax return with the IRS—even if you owe no gift tax. In fact, most people who file gift tax returns do not pay any gift tax because each […]
Essential Tax Insights for Businesses Operating Multiple Corporations
If you operate multiple corporations, you might assume each one entitles you to its own set of tax benefits, including separate Section 179 limits, additional credits, or even expanded retirement plan flexibility. Unfortunately, under controlled group corporation tax rules, the tax code doesn’t see it that way. Hidden within IRC Section 1563 are rules that […]
2025 Tax Planning Guide: Life and Family Considerations
Are you thinking of getting married or divorced? If so, consider December 31, 2025, in your tax planning. It’s crucial for marriage and family tax strategies. Here’s another planning question: Do you give money to family or friends (other than your children, who are subject to the kiddie tax)? If so, you need to consider […]
A Small Business Owner’s Guide to Health Plans and Tax Savings
All small-business owners with one to 49 employees should have a medical plan for their business. Sure, it’s true that with 49 or fewer employees, the tax law does not require you to have a plan, but you should. When you have 49 or fewer employees, most medical plan tax rules are straightforward. Here are […]