New Law Eases the Limitation on Business Interest Expense Deductions for 2025 and Beyond
Interest paid or accrued by a business is generally deductible for federal tax purposes. But limitations apply. Now some changes under the One Big Beautiful Bill Act (OBBBA) will result in larger deductions for affected taxpayers. Limitation basics The deduction for business interest expense for a particular tax year is generally limited to 30% of [...]
There’s Still Time to Save 2025 Taxes
Just because it’s December doesn’t mean it’s too late to reduce your 2025 tax liability. Consider implementing one or more of these year-end tax-saving ideas by December 31. Defer income and accelerate deductions Pushing income into the new year will reduce this year’s taxable income. If you’re expecting a bonus at work, for example, ask if [...]
California Employers: CalSavers Deadline is December 31, 2025
If you're a California employer with at least one W-2 employee and you don't already offer a qualified retirement plan, you're required to either register for CalSavers or claim an exemption by December 31, 2025. CalSavers is the state-sponsored IRA program that allows employees to save for retirement through payroll deductions. Alternatively, you can satisfy [...]
Individual Q4 Estimated Tax Payment Reminder: January 15, 2026 Deadline
If you make quarterly estimated tax payments, mark your calendar: the final due date is January 15, 2026, which applies to income earned in the fourth quarter of 2025. This applies to self-employment income, investment earnings, rental income, capital gains, and any other income not subject to regular withholding. Year-end surprises like bonuses, stock dividends, [...]
The Great Starbucks Gift Card Incident of 2025 (And Why Your Holiday Inbox is a Minefield)
Picture this: Thanksgiving week at an accounting firm. Everyone's wrapping up projects before the holiday, planning their Black Friday strategy, when suddenly—Christmas came early! A $25 Starbucks gift card lands in everyone's inbox. "How thoughtful!" they all said. "The firm really gets us!" Spoiler alert: The firm didn't send it. It was part of our [...]
How Will Taxes Affect Your Merger or Acquisition?
Whether you’re selling your business or acquiring another company, the tax consequences can have a major impact on the transaction’s success or failure. So if you’re thinking about a merger or acquisition, you need to consider the potential tax impact. Asset sale or stock sale? From a tax standpoint, a transaction can basically be structured [...]