How has the new tax law created Enhanced Business Interest Deductions for companies? Enhanced Business Interest Deductions, established by the One Big Beautiful Bill Act (OBBBA), allow businesses to deduct a significantly larger portion of their interest expenses by reverting the Section 163(j) calculation to an EBITDA-based standard. Specifically, the law now permits the add-back of depreciation, amortization, and depletion … Read More
Securing Your Legacy – the QBI Deduction
What does The Permanence of the 20% QBI Deduction mean for small business owners under the new tax law? The Permanence of the 20% QBI Deduction, established by the One Big Beautiful Bill Act of 2025, ensures that owners of pass-through entities can indefinitely deduct up to 20% of their qualified business income from their federal taxes. Specifically, this legislation … Read More
Maximize Growth: The Qualified Production Property Deduction Guide
What is the Qualified Production Property Deduction and how does it benefit business owners? The Qualified Production Property Deduction, established by the One Big Beautiful Bill Act (OBBBA), provides a 100% first-year deduction for the cost of constructing new nonresidential buildings used for manufacturing or production. Specifically, this incentive allows owners to immediately write off the entire cost of the … Read More
Digital Shift: Cryptocurrency Reporting
How will the new IRS proposal change tax reporting for cryptocurrency investors and brokers? The IRS and Treasury Department recently proposed regulations that allow brokers to deliver Form 1099-DA statements electronically through a simplified, digital-first process. Specifically, starting January 1, 2027, brokers can obtain a single consent for electronic delivery without offering a paper-based alternative. Consequently, this change aligns digital … Read More
Understanding the Head of Household Meaning and Tax Benefits
The head of household meaning refers to a specific federal filing status for unmarried taxpayers who pay more than half the cost of keeping up a home for a qualifying person. To qualify, a taxpayer must meet strict IRS criteria regarding marital status, household expenses, and dependent residency. Understanding the head of household meaning is vital because it offers a … Read More
One Big Beautiful Bill Act and Small Businesses
💰 Turbocharge Your Tax Prep: How the One Big Beautiful Bill Act Affects Your SMB Filing How does the One Big Beautiful Bill Act affect small businesses preparing to file taxes with a tax accountant? 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 … Read More