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Starting with payments made after December 31, 2025, the threshold that obligates a business to issue a 1099 on contractor pay and rent is $2,000, up from $600. Congress …

Starting with tax years that begin in 2026, gambling losses are deductible at 90 cents on the dollar. The missing dime means a gambler who breaks even for the year, winni…

In the most recent year the IRS counts as settled, it examined about 0.3% of individual returns, three in a thousand. For most business owners, the fear of an audit is ru…

"I'm going to form an LLC to save on taxes." Owners say it the way they'd say they're switching banks, as if registering the company by itself changes what they owe. It d…

Plenty of owners are told that electing S-corp status removes self-employment tax. They file an S election expecting to save the full 15.3%. At lower profit levels, most …

Running an S-Corporation comes with incredible tax advantages — but only if you follow the rules correctly. As we head toward year-end, it’s essential for S-Corp owners t…

Business travel can be an excellent opportunity for growth — meeting clients, attending conferences, or visiting suppliers. But from a tax perspective, it’s also an area …

Owning rental property can be a smart way for small and medium business owners to build long-term wealth, diversify income, and gain valuable tax advantages. But real est…

Why Estate Planning Is a Must for Small and Medium Business Owners Most business owners spend their time focused on the now — growing revenue, managing operations, and pl…