Expanded Tax Benefits for Qualified Small Business Stock Under the OBBBA
Do you own stock in a high-growth small business? Or are you a founder, an investor, or an employee of one? If so, you need to understand how the One Big Beautiful Bill Act (OBBBA) expands the tax benefits of qualified small business stock (QSBS). What QSBS Is “QSBS” refers to stock issued by regular […]
Major Tax Changes for Contractors and Businesses: The 1099 Form Update
Filing tax forms is never fun—but it’s important to stay ahead of changes that can reduce your reporting burden. Here are some major 1099 form updates from the One Big Beautiful Bill Act (OBBBA). If your business pays independent contractors (non-employees) for services, you are required to file IRS Form 1099-NEC if total payments exceed […]
OBBBA Adds a Possible Senior Tax Deduction (Age 65 and older)
If you will be age 65 or older on December 31, 2025, you have a new opportunity for tax savings. The One Big Beautiful Bill Act (OBBBA) created a new bonus tax deduction—available for seniors beginning this year (2025). You can claim this deduction whether or not you itemize. How Much Can You Deduct? If […]
OBBBA 2025 Update: Bigger Tax Savings for Business Owners Hiring Their Kids
If you own a business and have children, the One Big Beautiful Bill Act (OBBBA) just made the popular “hire your child” tax strategy even more attractive starting in 2025. Read more about the tax savings you can take advantage of for hiring your kids. Thanks to the OBBBA, the standard deduction for a single […]