IRS Rules

For many business owners, the term “small business” feels subjective. A company may seem large from an operational standpoint but still qualify as a small business under federal tax law. Understanding how the government classifies your business is important because certain tax advantages are only available to businesses that meet specific requirements. However, there’s no […]

If you operate your business as a C corporation, you could qualify for a powerful tax advantage through qualified small business (QSB) stock. While this opportunity has been around for years, recent tax law updates have made it even more attractive. What Is a QSB Corporation? A QSB corporation is a specific type of C

If you own a business through a limited liability company (LLC) or limited liability partnership (LLP), understanding material participation is essential. These rules determine whether you can deduct business losses in the current year or if those losses will be limited under passive activity loss (PAL) rules. Understanding the Passive Activity Loss Rules The PAL

Once you’ve submitted your 2025 tax return, it’s tempting to check taxes off your list and move on. However, taking a few extra steps now can help you stay organized, avoid future complications, and even uncover additional savings opportunities. Here’s a practical checklist to guide you. Check the Status of Your Tax Refund If you’re

If you run your business as a C corporation, the way you inject money into the company — and how you later withdraw it — can significantly affect your taxes. When shareholders provide funding, it can be classified either as equity (capital contributions) or debt (shareholder loans). While this may seem like a technical distinction,

Every year, you have a limited window to contribute to a traditional or Roth IRA. Once that deadline passes, the opportunity is gone for good. For 2025, the final day to make a contribution is April 15, 2026. Depending on your situation, you may be able to deduct some or all of your contribution and