Federal Income Tax
-
What you need to know about filing an extension — and minimizing penalties
If you don’t have everything ready to complete your 2025 federal individual income tax return by the April 15 deadline, you can request an automatic…
Read More: What you need to know about filing an extension — and minimizing penalties -
Debt vs. equity: Classification counts when shareholders put money into their corporations
If you operate your business as a C corporation, how you put money into your company — and how you take it back out — can…
Read More: Debt vs. equity: Classification counts when shareholders put money into their corporations -
4 types of interest expense you may be able to deduct
Personal interest expense generally can’t be deducted for federal tax purposes. There are, however, exceptions. Here are four, one of which is a new break…
Read More: 4 types of interest expense you may be able to deduct -
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…
Read More: What’s your potential business vehicle deduction? -
Deferring taxes on advance payments
An advance payment is one received by a business before it provides whatever is being paid for. For federal income tax purposes, generally advance payments…
Read More: Deferring taxes on advance payments -
There’s still time to set up a SEP and reduce your 2025 taxes
If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one before you file your 2025…
Read More: There’s still time to set up a SEP and reduce your 2025 taxes
Stay current on weekly blogs by following our social media posts on LinkedIn, Facebook, and Twitter.