At first glance, the distinction between a repair and an improvement may seem less important under today’s tax rules. After all, many qualifying capital improvements can now potentially receive a 100% first-year deduction through bonus… Read More »Repair or Improvement? Tax Rules for Property Expenses
Working remotely can provide greater flexibility, expand your employment opportunities and eliminate the daily commute. However, working from a state different from where your employer is located — or spending significant time working from a… Read More »How Working Remotely Can Affect Your State Taxes
Real estate can be an effective way to diversify an investment portfolio, generate rental income and build wealth over the long term. For many investors, however, real estate is not their primary business or occupation.… Read More »Real Estate Investor Tax Planning: Key Strategies to Save on Taxes
Payroll is one of the most important administrative responsibilities for any small business, but it can also be one of the easiest places to make costly mistakes. Errors can result in incorrect employee paychecks, frustrated… Read More »Payroll Tax Mistakes: How to Avoid and Correct Them
Teachers and other educators often pay for classroom supplies, books, equipment and other educational materials out of their own pockets. For the 2026 tax year, eligible educators may have two different opportunities to deduct qualifying… Read More »Teachers Can Deduct Classroom Expenses in Two Ways for 2026
Offering competitive salaries is important for attracting and retaining talented employees, but compensation is only part of the equation. A well-designed benefits package can add significant value to an employee’s overall compensation — especially when… Read More »Tax-Free Fringe Benefits Employers Can Offer in 2027
Saving as much as possible in tax-deferred retirement accounts such as traditional 401(k)s and IRAs is often considered a smart retirement strategy. Contributions may be made with pretax dollars or may be deductible, while tax-deferred… Read More »Can You Have Too Much in Tax-Deferred Retirement Accounts?
Bartering — exchanging goods or services without using cash — has been a common business practice for generations. Today, businesses can also use online barter exchanges to make trades easier. Bartering can offer several advantages.… Read More »Are Business Barter Transactions Taxable? What to Know
Disability insurance can provide an important financial safety net if an illness or injury prevents you from working. Employer-sponsored disability policies typically replace a portion of your income — often around 45% to 65% of… Read More »Disability Benefits and Income Taxes: What You Need to Know
Many small businesses begin as sole proprietorships because this business structure is relatively simple and inexpensive to establish and operate. Unlike corporations, sole proprietors generally have direct access to their business profits without needing to… Read More »Sole Proprietor Taxes: Essential Tax Tips for 2026
College and other forms of higher education can be a significant financial commitment. Many parents spend years saving for their children’s education, while others may have had limited opportunities to save or encountered unexpected financial… Read More »Tax Tips for Parents With Kids Heading to College in 2026
Businesses located in economically distressed communities can face significant challenges when trying to secure funding for expansion, new equipment, real estate improvements, or other investments. The New Markets Tax Credit (NMTC) was created to encourage… Read More »New Markets Tax Credit: How It Can Benefit Your Business