Business

FAQs about the Research Credit

Companies that engage in research and development activities may qualify for a federal tax credit for some of those expenses. The credit is complicated to calculate, and not all research activities are eligible — but the tax savings can be significant. Here are answers to…

Are you eligible for mileage deductions?

Whether you’re filing your 2025 individual income tax return or planning for 2026, it’s important to know if you can deduct vehicle-related expenses. A change that was made permanent by last year’s One Big Beautiful Bill Act (OBBBA) limits who can claim a deduction for…

An Income Tax Guide for International Touring Artists Entering the U.S. Market

In this article, Senior Accountant Jacob Hooton, CPA demystifies the U.S. tax landscape for international touring artists. Navigating the U.S. market can be daunting, especially when unfamiliar regulations create unexpected challenges. This practical guide outlines key rules and provides a clear, step-by-step checklist to help…

Understanding Section 179: A Depreciation Deduction Q&A

In this article, Staff Accountant Maggie Blenker answers your top questions about the Section 179 Depreciation Deduction: what it is, how it’s applied and key considerations that could affect your eligibility. Q: What is the Section 179 Deduction? A: Rather than depreciating equipment over time,…

Schedule C vs. Schedule E: Key Differences and Tax Implications for Individual Taxpayers

If you have income from sources such as a sole proprietorship, single-member limited liability corporation, and rental property, you likely need to report this income on your tax return on Schedules C and E. You may find it confusing when you should report this income…

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 return. Businesses can generally deduct expenses attributable to business use of a vehicle plus depreciation. However, the rules are complicated,…

Raising Capital? Your Business May Need Financial Statements

In this article, Staff Accountant Jacob Coughlin, CPA shares a guide to attestation for business owners with a breakdown of options, levels of assurance and other key factors to help you make the right decision for your business. A small business raising capital has two…

Understanding 1099 Filing Requirements: A Q&A for Businesses

Businesses of all sizes are preparing to meet important tax reporting obligations – including the filing of Form 1099. Failing to properly issue and file 1099s can result in costly penalties and unnecessary IRS issues. In this article, In-Charge Senior Accountant Bryce Tarletsky, CPA offers…

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 tax return. If you choose a Simplified Employee Pension (SEP), you’ll be able make deductible 2025 contributions to it, saving…

Side Hustles & Taxes: What You Need to Know Before Selling Online

Selling online, whether it’s handmade candles on Etsy, vintage sneakers on eBay, or custom T-shirts on TikTok Shop, has never been easier. For many, a side hustle is a fun way to turn hobbies into extra income. While listing your first item can be exciting,…