Bringing Adult Children Into the Business

Involving your adult children in the family business can strengthen both your legacy and theirs, but it requires structure and clear expectations. Early planning, defined roles, and open communication are key to a smooth transition.

OBBBA and Pass-Through Entities

The One Big Beautiful Bill Act (OBBBA) brings major changes for S corporations, partnerships, and LLCs. From permanent tax breaks to enhanced deductions, these updates could significantly impact how small businesses plan and save.

Don’t Get Trapped by Fraudulent Tax Schemes

Tax scams are becoming more sophisticated, often disguised as social media “advice” from fake tax experts. Learn how to spot fraudulent credit claims and protect yourself from costly penalties.

Handling a Family Business

Passing down a family business involves more than financial decisions. Balancing fairness, family dynamics, and clear succession planning helps preserve both wealth and relationships.

Could Your Child Owe Taxes? Here’s What To Know

Children aren’t automatically exempt from taxes. If they earn unearned income like dividends or interest and meet certain criteria, they may need to file. Understanding the thresholds for the “kiddie tax” and the parent election option can help you steer clear of surprises at tax time.

Outsourced Accounting for Controllership Support

When your business outgrows spreadsheets and part-time help, you don’t have to build a finance department from scratch. An outsourced accounting team can provide the controllership support that keeps your numbers accurate, timely, and decision-ready.

Know the Rules for Reimbursing Employees

Reimbursing employees for business expenses may seem simple, but the IRS has strict guidelines. Following these rules ensures reimbursements remain tax-free and compliant.

De Minimis Benefits: IRS Rules and Compliance

The IRS permits employers to offer de minimis benefits like snacks, coffee, or small gifts without adding them to employee income. These perks must remain occasional and low in value to stay compliant.

OBBBA: Big Changes Ahead for Student Loans and Aid

The One Big Beautiful Bill Act brings sweeping changes to student loans, 529 plans, ABLE accounts, and Pell Grants. Families and students now have new opportunities to save, borrow, and receive aid more effectively.

Federal Tax Break for Tipped Workers

Under the OBBBA law, tipped workers such as waiters, bartenders, and hairdressers may deduct qualified tips, with average take-home pay rising by $1,675 per year. Because IRS reporting and payroll tax rules are complex, both employees and restaurant employers should consult a tax professional.