Service Spotlight: Outsourced Accounting Services One of the most powerful features of QuickBooks® Online is its ability to connect to your bank and credit card accounts, enabling automatic transaction downloads and better financial management. Linking accounts is key to streamlining your business’s accounting processes. Once completed, transactions will be input into QuickBooks® in real-time, giving … Read more
Among its numerous tax provisions, the One Big Beautiful Bill Act (OBBBA) reinstated immediate deductions for research and experimental (R&E) expenditures under Internal Revenue Code Section 174, beginning in 2025. The IRS has recently issued transitional guidance (Revenue Procedure 2025-28) on how this change will be implemented. The guidance addresses several critical issues. Here’s what businesses of … Read more
Beginning September 30, 2025, the IRS will no longer accept paper checks for tax payments or issue refunds by mail. Instead, all payments and refunds will be processed electronically. This move is intended to modernize the tax system, reduce fraud, and improve efficiency for both taxpayers and the government. The federal government has identified significant costs and risks with … Read more
The One Big Beautiful Bill Act (OBBBA) shifts the landscape for federal income tax deductions for state and local taxes (SALT), albeit temporarily. If you have high SALT expenses, the changes could significantly reduce your federal income tax liability. But it requires careful planning to maximize the benefits — and avoid potential traps that could … Read more
The federal government has announced a major change that will affect how numerous Americans receive their tax refunds and federal benefit payments. The U.S. Treasury Department, the IRS and the Social Security Administration (SSA) will soon stop issuing paper checks. This transition is designed to increase efficiency, reduce fraud and lower administrative costs — but … Read more
For some time, President Trump and the GOP have had their sights on repealing many of the tax incentives created or enhanced by the Inflation Reduction Act (IRA). With the enactment of the One, Big, Beautiful Bill Act (OBBBA), they’ve made progress toward accomplishing that goal. Here’s a closer look at some of the individual-related … Read more
The One, Big, Beautiful Bill Act (OBBBA) includes, among many other things, numerous provisions that can affect an individual’s taxes. The new law makes some changes to existing tax breaks that will be significant to many, but not all, taxpayers. It also creates new breaks that, again, will be significant to certain taxpayers. Finally, it … Read more
The One, Big, Beautiful Bill Act (OBBBA) includes numerous provisions affecting the tax liability of U.S. businesses. For many businesses, the favorable provisions outweigh the unfavorable, but both kinds are likely to impact your tax planning. Here are several provisions included in the new law that may influence your business’s tax liability. Qualified business income … Read more
On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). As promised, the tax portion of the 870-page bill extends many of the provisions of the Tax Cuts and Jobs Act (TCJA), the sweeping tax legislation enacted during the first Trump administration. It also incorporates … Read more
In the midst of tax filing season, many business owners find that preparing information for tax returns is frustrating and time consuming. Cleaning up the prior year’s transactions is not an enjoyable or efficient task while trying to run a successful business. Support for prior transactions may be hard to find, and the details may … Read more