Business Income Tax
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What’s your potential business vehicle deduction?
If you used one or more vehicles in your business during 2025, you may be eligible for valuable tax deductions on your 2025 income tax…
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New law eases the limitation on business interest expense deductions for 2025 and beyond
Interest paid or accrued by a business is generally deductible for federal tax purposes. But limitations apply. Now some changes under the One Big Beautiful…
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Year-end tax planning for accrual-basis taxpayers
Projecting your business’s income for this year and next can allow you to time income and deductible expenses to your tax advantage. It’s generally better…
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5 tax breaks on the table: What business owners should know about the latest proposals
A bill in Congress — dubbed The One, Big, Beautiful Bill — could significantly reshape several federal business tax breaks. While the proposed legislation is…
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Can you turn business losses into tax relief?
Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be…
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When businesses may want to take a contrary approach with income and deductions
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise to…
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