What U.S. Business Owners Actually Need to Know Section 892 of the Internal Revenue Code exempts foreign governments and sovereign wealth funds from U.S. tax on passive investment income. Most small business owners will never file under it. But when foreign capital shifts — and it is shifting in a big way right now — the downstream effects on U.S. … Read More
The 2026 Tax Update: What Small Business Owners Need to Know
You built a business. You survived a pandemic, supply chain chaos, and whatever that was in 2023. And now the IRS has decided this is a great time to restructure the tax code. The 2026 tax year brings the expiration of several major provisions from the Tax Cuts and Jobs Act (TCJA) — and for small business owners, the impact … Read More
Guide to Not Getting Audited
The “I Just Wanted to Bake Cookies / Build Apps / Mow Lawns” Let’s be honest: You didn’t start a business because you had a burning passion for Publication 583. You started it because you’re good at something, and you wanted the freedom to do it without a boss breathing down your neck. Then it reality hit. You realized that … Read More
Why Construction Companies Need Specialized Accountants
Finding construction accountants near me is the first step toward protecting your bottom line.Construction accounting differs significantly from standard bookkeeping. It requires project-basedcost tracking, milestone billing, and strict compliance with IRS construction-specific tax codes. As aresult, general accountants often miss critical deductions and reporting requirements unique to contractors.TYS Advisors brings more than 60 years of combined experience in construction accounting … Read More
Accounting & Bookkeeping What’s the Difference
📊 Clean Books, Clear Strategy: The Critical Difference Between Accounting & Bookkeeping What is the essential difference between accounting and bookkeeping? Bookkeeping is the chronological, clerical process of recording daily financial transactions. In contrast, accounting is the strategic, analytical process of interpreting that recorded data to create financial reports, advise on business decisions, and manage tax compliance. Therefore, both are … 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
The One Big Beautiful Bill Act Increases the Child Tax Credit
👨👩👧👦 Growing Relief: How does the One Big Beautiful Bill Act increase the Child Tax Credit for qualified families? The One Big Beautiful Bill Act (OBBBA), signed in July 2025, significantly and permanently enhances the Child Tax Credit (CTC). Specifically, the maximum credit amount increased from $2,000 to $2,200 per child for tax year 2025. Furthermore, this new, higher credit … Read More
CPA in NY Specializing in Business Structures
🏛️ Smart Start: Why You Need a CPA in NY for Optimal Business Structures What is the advantage of choosing a CPA in NY specializing in business structures? The initial choice of business structure—such as LLC, S-Corp, or C-Corp—determines your tax liability and personal asset protection for the company’s entire lifespan. Therefore, you need a CPA in NY with specific … Read More