What are the Ishango and Lebombo Bones?

tysllpAccounting History, Tax Accounting

Ishango bone artifacts displaying ancient tally marks, representing early mathematical counting and data storage linked to the history of accounting.

The Ishango and Lebombo bones are ancient artifacts that represent the earliest known evidence of mathematical counting and data storage. These Paleolithic tools suggest that the first use of accounting emerged in Africa tens of thousands of years ago to track vital information. Specifically, they serve as the ancestors to every ledger, spreadsheet, and financial model used by TYS today. … Read More

Make Tax Season Less Stressful 5 Simple Steps

tysllpCPA, Tax Accounting, Tax Planning, Tax Prep

Young woman with glasses managing domestic budget, using calculator and laptop, surrounded by tax documents and coffee, with partner in background.

Tax Tips for Reducing Taxable Income. Tax season doesn’t have to be overwhelming. Whether you’re an employee or a small business owner, staying organized and proactive throughout the year can make filing your taxes a smoother and less stressful experience. Here are five practical tips to help you stay on top of your taxes and potentially save money along the … Read More

New Limitations on Charitable Giving

tysllpCPA, Tax Accounting, Tax Planning, Tax Prep

Older couple engaging with a laptop outdoors, discussing business structures and tax strategies, with coffee on the table.

🎁 Strategic Giving: How does the One Big Beautiful Bill Act change the rules for Charitable Giving deductions? The One Big Beautiful Bill Act (OBBBA) significantly alters the tax landscape for charitable giving, particularly for high-income itemizers and non-itemizers alike, beginning in 2026. Specifically, the Act imposes a new 0.5% Adjusted Gross Income (AGI) floor for individual itemizers. Furthermore, it … Read More

Senior Deduction and Tax Relief in the One Big Beautiful Bill Act

tysllpCPA, Tax Accounting, Tax Planning, Tax Prep

Elderly couple smiling at each other while enjoying coffee outdoors, representing the importance of tax deductions for seniors under the One Big Beautiful Bill Act.

How does the One Big Beautiful Bill Act provide an extra Senior Deduction for taxpayers over age 65? The One Big Beautiful Bill Act (OBBBA), enacted in July 2025, creates a new, temporary Senior Deduction to provide tax relief for individuals aged 65 and older. Specifically, it allows a deduction of $6,000 for single filers and $12,000 for married couples … Read More

🏛️ Strategic Tax Deferral

tysllpBusiness News, Construction Accounting, Tax Accounting

Construction workers on scaffolding, pouring concrete, silhouetted against a sunset, illustrating construction accounting principles and tax strategies for small businesses.

How Construction Accounting Principles Save You Taxes How do specialized construction accounting principles save you taxes under the new law? Construction accounting principles save you taxes by utilizing specific methods of revenue recognition, such as the Completed Contract Method (CCM) and the Percentage of Completion Method (PCM), to defer income recognition and align tax liability with actual cash flow. Specifically, … Read More

The One Big Beautiful Bill Act and Small Business Tax Preparation

tysllpBusiness News, Tax Accounting, Tax Prep

Person working on a computer displaying a detailed spreadsheet, surrounded by office supplies, illustrating accounting and tax preparation relevant to small and medium-sized businesses.

💰 Turbocharge Your Tax Prep: How the One Big Beautiful Bill Act Affects Your SMB Filing The One Big Beautiful Bill Act (OBBB) significantly affects small to medium-sized businesses (SMBs) by providing powerful new incentives for capital investment, primarily through permanent changes to accelerated depreciation. Specifically, the Act makes 100% Bonus Depreciation permanent and substantially increases the Section 179 deduction … Read More