by Candy | Sep 18, 2025 | Business, Taxes
Small business owners can use net operating losses (NOLs) to offset taxable income from other years; however, a recent Tax Court case makes one thing clear: merely intending to start a business does not automatically create a tax-favored loss. Before the Tax Cuts and...
by Candy | Sep 15, 2025 | News Letter, Shared, Taxes
The 2025 tax law temporarily raises the federal deduction for state and local taxes (SALT) from $10,000 to $40,000, a change that has drawn significant attention. Despite the increase, only a small number of taxpayers will see meaningful benefits. Before 2017,...
by Candy | Aug 4, 2025 | Business, Taxes
As a business owner, understanding sales tax rules probably isn’t your favorite part of the job, but knowing what nexus is (and how it applies to you) can help you avoid costly penalties and audits. Let’s break it down. What Is Nexus? In the world of sales tax, nexus...
by Candy | Jul 24, 2025 | Taxes
If you filed an extension this year—this is for you. If you’ve already sent in your return, this might be a little dated, but still worth a quick listen for next time. So, here’s what to know before you file: First—gather everything. That means your W-2s, 1099s, any...
by Candy | Jul 2, 2025 | News, Taxes
The House of Representatives passed four bipartisan bills aimed at making the tax process fairer and more user-friendly, and they’ve gained strong backing from the American Institute of CPAs (AICPA). These measures are designed to reduce confusion, offer clearer...
by Candy | Jun 26, 2025 | Taxes
Congress just cracked open the door to some long-overdue tax relief, and if you’re running a small business or startup, this could finally be the break you’ve been waiting for. The House passed a major budget resolution by just two votes—and now lawmakers are...
