Small Business Owners: Are You Missing This Tax Break?
Many business owners overlook a powerful strategy that allows them to pay family members, reduce taxes, and avoid payroll taxes altogether by choosing to hire a family member for a “one-time project.” You likely know the traditional approach: hire your child and put them on payroll. That strategy works well for younger children in a […]
Upcoming Changes to ACA Premium Tax Credit Repayment Rules in 2026
If you purchase health insurance through the Affordable Care Act (ACA) marketplace and receive premium tax credits, a major rule change begins in 2026—and it could create a painful surprise. Under prior rules, if your income came in higher than expected, the amount of excess subsidy you had to repay was capped (as long as […]
Protecting Estate Tax Benefits through Portability Elections
With today’s $15 million federal estate and gift tax exemption ($30 million for married couples), it’s easy to believe estate tax planning is no longer a concern. But a recent Tax Court case proves otherwise—an estate lost $1.5 million simply because a portability election was not properly and timely filed. Protecting estate tax benefits through […]
How the 2026 Childcare Credit Can Save Small Businesses Thousands
Beginning in 2026, the One Big Beautiful Bill Act (OBBBA) increases the employer childcare credit for small businesses to 50 percent of qualified expenses, up to $600,000 per year. This means the OBBBA childcare credit for small businesses can provide significant tax relief. Even one-owner businesses can benefit—and the savings are substantial. If you operate […]
Exploring Tax Rules When Converting Your Business Vehicle to Personal Use
If you are a sole proprietor and considering converting a business vehicle to personal use, it’s important to understand the tax consequences before making the switch. While the conversion itself may appear simple, the tax impact can arise either immediately or later—and sometimes in unexpected ways. If you used the IRS standard mileage rate for […]
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 […]
What Tax Changes are Coming in 2026?
We’ve got another tax season arriving, and it’s going to be a doozy thanks to the varying changes brought about by the One Big Beautiful Bill Act. Today, I want to cover the highlights of tax changes coming in 2026 and which ones will have the biggest impact on your return. What are the 2026 […]
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 […]