Our Financial Blog
Examining the Impact: How the ‘One Big Beautiful Bill Act’ (OBBBA) Might Apply to You
As we approach the closing chapters of the Tax Cuts and Jobs Act (TCJA), implemented during President Trump's first term, taxpayers find themselves at a crossroads. With many of the TCJA's provisions set to expire after 2025, the introduction of the One Big Beautiful...
Think the IRS is Slowing Down? Why That Might Actually Increase Your Audit Risk
You’ve probably seen the headlines: “IRS funding slashed.” “Audit rates down.” “Staffing cuts.” If you’re a business owner, investor, or part of a high-earning household, you may be thinking: Finally, some breathing room. But here's the reality:The IRS isn’t...
Is Your Business Overpaying Taxes? 3 Mid-Year Moves That Could Lower Your 2025 Bill
You know that moment in April when you look at your tax bill and think:“We could’ve done something about this... if we’d only planned earlier.” Well, this is earlier. And if you’re a business owner who’s having a good year so far (or even just a better-than-expected...
A Comprehensive Guide for Itemized Medical Deductions
In today's world, where medical costs are soaring, understanding the intricacies of tax-deductible medical expenses is not just beneficial—it's necessary for effective financial planning. This guide explores the ins and outs of deductible medical expenses, touching on...
It’s Summertime: A Guide to Seasonal Tax Strategies
As the warm embrace of summer arrives, it brings with it not only the excitement of vacations and longer days but also a host of unique tax considerations. From newlyweds navigating the intricacies of joint finances, to parents exploring tax credits for summer camps,...
Summer Employment for Your Child
Summer jobs for kids offer more than just extra cash—they provide valuable life lessons and skills that can benefit young individuals in their personal and professional lives. Whether they are saving up for a special purchase, gaining work experience, putting the...
Tips Every Self-Employed Individual Should Know About Self-employment Tax
Self-employment tax plays a crucial role in the life of every entrepreneur, freelancer, and business owner. Understanding this tax is essential for anyone who makes their living other than as an employee. In this article, we will delve into the components of...
The Retirement Tax Surprise: What Boomers Need to Know Before It’s Too Late
You did it.You worked hard, saved consistently, and now you're either enjoying retirement—or it's just around the corner. You’ve been told for years to put money into retirement accounts, defer taxes, and wait for the golden years. But wait… no one told you?...
Special Tax Benefits for Childcare Providers
Childcare providers play a crucial role in society by caring for and nurturing young children. Given their significant responsibilities, there are numerous tax benefits designed to support these dedicated professionals. Whether you operate out of your home or a...
Maximizing Business Deductions: An Introduction to Depreciation, Amortization, and Expensing
In the intricate world of business accounting and taxation, the ability to strategically deduct expenses can significantly impact a company's financial health and tax liabilities. Businesses, regardless of size or industry, continuously seek methods to optimize their...
Don’t Get Played by a “Finfluencer”: Why Your Tax Pro Should Be Your First Call
In an era where financial advice is just a scroll away, many individuals, especially from younger generations, are turning to social media platforms like TikTok, Instagram, and YouTube for guidance on managing their finances. While these platforms offer a seemingly...
Understanding Filing Requirements and Non-Compliance Penalties for Exempt Organizations
Navigating the labyrinth of return filing requirements for tax-exempt entities can seem daunting at first glance. However, understanding these requirements is crucial for maintaining your organization's tax-exempt status and ensuring compliance with the Internal...
When Consumers Pull Back: What Small Businesses Need to Know Right Now
It starts small.Fewer cars on the dealership lot.Half-empty restaurants on a Friday night.A "maybe next year" when customers talk about their next big vacation. It’s not your imagination.Consumer behavior is shifting — and small businesses are feeling it. When...
IRS Unveils Top Tax Scams and Threats to Watch For
The Internal Revenue Service (IRS) has released its annual "Dirty Dozen" list of tax scams for 2025, cautioning taxpayers, businesses, and tax professionals to remain vigilant against prevalent schemes that endanger their tax and financial data. These fraudulent...
Navigating the Complexities of Estimated Tax Payments to Avoid Underpayment Penalties
Tax planning is a crucial aspect of financial management, yet it often remains underutilized by many taxpayers. One area that frequently causes confusion and potential financial strain is the management of estimated tax payments and the associated penalties for...
Cybersecurity: The Financial Crescendo of Ignoring Digital Threats
Cybersecurity is no longer just an IT issue—it's a business imperative. North American SMBs are grappling with a surge of cyberattacks, and the stakes have never been higher. According to a recent press release from Okta, many small and medium businesses are facing...
Maximizing Your Financial Happiness: Stop the Cycle and Thrive
Ever feel like no matter how hard you try, your finances just aren’t working for you? You’re not alone. Many people—especially busy business owners—make the same costly mistakes when it comes to money. But what if you could flip the script and create a future where...
Navigating the Tax Landscape for Day Traders
Day trading, the practice of buying and selling financial instruments within the same trading day, has gained significant popularity in recent years. With the rise of online trading platforms and increased market volatility, more individuals are drawn to the potential...
Maximize Your Tax Savings: A Small Business Owner’s Guide to Essential Tax Deductions
We’ve seen firsthand how optimizing your tax deductions can create real, measurable benefits for your business. With inflation driving up expenses and economic uncertainty still lingering, small business owners need every strategic advantage they can get. That...
How to Choose the Perfect Business Entity for Your Venture
Choosing the right business entity is a critical decision for entrepreneurs and business owners. The type of entity you select can have significant implications for liability, taxation, and the overall management of your business. In this article, we will explore the...