Small Business Tax Tips
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Should your business consider a fiscal year end?
Most businesses close their books for tax and accounting purposes on December 31 because it aligns with the calendar year. But a calendar year isn’t…
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Business deductions for four-legged coworkers
Did you know that you can claim tax deductions for animals that serve a bona fide business purpose? This benefit extends beyond agricultural operations. Working…
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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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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…
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To maximize — or not to maximize — depreciation deductions on your 2025 tax return
The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed by December 31 of the tax…
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Some small businesses can still benefit from the health care coverage credit
Tax credits reduce tax liability dollar-for-dollar. As a result, they can be more valuable than deductions, which reduce only the amount of income subject to…
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