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Understanding the IRS’s new deduction for qualified overtime compensation
The IRS has introduced a new federal income tax deduction for qualified overtime compensation, effective for tax years 2025 through 2028. Eligible workers can deduct up to $12,500 (or $25,000 on joint returns) of the overtime premium they earn above their regular rate of pay. This deduction reduces is available[...]
S-corporations 101: FAQs for business owners
S-corporations are one of the most frequently discussed (but often misunderstood) tax structures for small business owners. While they can offer real savings on self-employment taxes, the benefits aren't automatic - they depend on your income level, involvement in the business, and whether you're ready to manage the added compliance[...]
Can you be freed from a spouse’s tax debt? Understanding innocent spouse relief
Innocent spouse relief can protect you from being held responsible for a tax bill caused by your spouse’s or ex-spouse’s mistakes. This article explains how the IRS evaluates these claims, the types of relief available, and what to expect if you apply. If you’ve received a notice or suspect something[...]
Living trust myths vs. reality: what a revocable trust really does
Revocable living trusts are widely used and widely misunderstood. This article explains what revocable trusts actually do, what they don’t do, and why proper design, funding, and coordination matter. Understanding these nuances can help prevent surprises and improve estate planning outcomes[...]
Best procedures for credit and asset protection
Financial protection is a necessity for everyone, regardless of net worth. Protection measures provide security, safeguard business continuity, minimize tax liabilities and shield assets for future generations[...]
Measuring Q1 performance for budget maintenance
As your business marches into this month, the end of the first quarter is the perfect time to evaluate how the budget withstood your actual performance since the beginning of the new year. March is a pivotal month for running a budget analysis, and we discuss the reasons in the[...]
New limits for itemized deductions in 2026
If you itemize your tax deductions, important changes are coming for tax year 2026 that could affect your tax planning strategy. In addition to the explanation of the new limits, we’ve also provided guidance on how to adjust your planning strategy to reap the most benefit in tax savings[...]
Strengthen your business with a financial health checkup
We depend on regular health checkups to ensure we’re taking care of our bodies. Managing the health of your business shouldn’t be any different. Routine financial checkups can help you position your business for growth as well as maintain strength and stability[...]
Financial tasks for February
If you’ve repeated the same financial mistakes several years in a row, February offers a timely opportunity to reset. Take intentional steps now to build momentum and create stronger financial habits that last. We’ve developed this action plan for you to follow in the month of February[...]
Financial strategies for enlarging emergency funds
An emergency fund shouldn’t be a few bucks in a hidey-hole. It's a necessary element in your personal finances that could potentially protect your long-term investments and offer security during a costly, unexpected event[...]
Understanding Trump Accounts: what parents need to know about the new child-focused IRA
Trump Accounts are a new type of tax-advantaged retirement account for children, created under 2025 legislation and clarified by recent IRS guidance. While contributions can't begin until mid-2026, families can begin preparing now. This article explains what is currently known, what remains uncertain, and how Trump Accounts compare to other[...]
The mega backdoor Roth: a straightforward strategy for high earners locked out of Roth IRAs
For high-income professionals locked out of traditional Roth contributions, mega Roth conversions offer a powerful alternative. By contributing after-tax dollars to fill unused space under the $72,000 annual 401(k) limit and immediately converting them to Roth, eligible savers can funnel tens of thousands annually into tax-free growth[...]
IRS clarifies 100% first-year bonus depreciation rules
The IRS recently issued new guidance clarifying how the permanent 100% bonus depreciation deduction will work moving forward. This allows businesses to fully deduct the cost of qualified property in the year it's placed in service, rather than depreciating it over several years[...]
USPS updates change postmark proof for filing deadlines
If you've relied on postmark dates as proof of on-time filings in the past, you should be aware of the United States Postal Service's recent update that changed how postmark dates are defined and applied[...]
1099 season is here: what employers need to know
Businesses must prepare 1099s for contractors and vendors by February 2, 2026. Understanding which forms to use and getting organized now can help you stay on track and avoid costly IRS penalties[...]
Why business planning matters for real estate professionals
Income fluctuations are inherent to the industry, but instating a structured business plan with these actionable steps can turn unpredictable revenue through peak and slow markets into long-term financial stability[...]