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.
Rebuilding a Small Business Finance Function with Just Two People
Thinking about renting out your vacation home to earn some extra income? It’s a smart move—but the IRS has some rules that could trip you up. How much you use the home personally, who you rent it to, and how many days it’s on the market all impact what you can (and can’t) deduct. For example, too much personal use or discounted rent to friends and family could limit your tax benefits.
Navigating the fine print now can help you avoid surprises later. A little planning goes a long way in keeping more of what you earn—and staying on the IRS’s good side.
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.
529 Plans: Tax Details You Need To Know
A 529 plan helps you save for education with tax benefits. New rules let unused funds roll into a Roth IRA penalty-free.
What To Know About ABLE Accounts
ABLE (Achieving a Better Life Experience) accounts help individuals save for disability-related expenses without risking eligibility for government assistance. Contributions grow tax-free, and qualified withdrawals avoid income tax, making ABLE accounts a powerful tool for long-term financial planning.
The Rise of the Strategic Controller
Thinking about renting out your vacation home to earn some extra income? It’s a smart move—but the IRS has some rules that could trip you up. How much you use the home personally, who you rent it to, and how many days it’s on the market all impact what you can (and can’t) deduct. For example, too much personal use or discounted rent to friends and family could limit your tax benefits.
Navigating the fine print now can help you avoid surprises later. A little planning goes a long way in keeping more of what you earn—and staying on the IRS’s good side.
Navigating a Business Tax Audit
Navigating a Business Tax Audit If your business is being audited, take a deep breath and understand the reasons behind it. Audits may be random or triggered by issues specific to small businesses, such as excessive expenses, misclassified employees or questionable deductions. While an audit doesn’t necessarily mean you’ve done something wrong, it is the […]
Why Less Is More in Tax Strategy (and Business in General)
Thinking about renting out your vacation home to earn some extra income? It’s a smart move—but the IRS has some rules that could trip you up. How much you use the home personally, who you rent it to, and how many days it’s on the market all impact what you can (and can’t) deduct. For example, too much personal use or discounted rent to friends and family could limit your tax benefits.
Navigating the fine print now can help you avoid surprises later. A little planning goes a long way in keeping more of what you earn—and staying on the IRS’s good side.