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Essential Tax Tips for Sole Proprietors in 2026
Many small businesses begin as sole proprietorships because this business structure is relatively simple and inexpensive to establish and operate. Unlike corporations, sole proprietors generally have direct access to their business profits without needing to…
College Tax Breaks Parents Should Know About in 2026
College and other forms of higher education can be a significant financial commitment. Many parents spend years saving for their children’s education, while others may have had limited opportunities to save or encountered unexpected financial…
How the New Markets Tax Credit Can Help Businesses Access Capital
Businesses located in economically distressed communities can face significant challenges when trying to secure funding for expansion, new equipment, real estate improvements, or other investments. The New Markets Tax Credit (NMTC) was created to encourage private investment…
Mutual Fund Tax Rules Every Investor Should Know
Mutual funds are a popular investment choice because they provide instant diversification without requiring investors to purchase individual stocks or bonds. While they offer convenience and professional management, the tax rules that apply to mutual…
Employer Guide to Form W-4 Compliance and IRS Withholding Rules
Form W-4, officially known as the Employee’s Withholding Certificate, allows workers to tell employers how much federal income tax should be withheld from each paycheck. While most forms are completed without issue, employers occasionally receive…
Giving to Charity? Understand the Tax Deduction Rules First
Donating to charity allows you to support meaningful causes while potentially reducing your tax liability. However, not every charitable contribution receives the same tax treatment. The type of donation you make, whether you itemize deductions,…
2026 Employer Child Care Credit: Bigger Tax Savings for Small Businesses
Providing valuable employee benefits is one of the most effective ways to attract and retain talented workers. For businesses with employees who have young families, employer-sponsored child care can be a significant advantage. While offering…
Tax Rules for Lottery and Gambling Winnings: What Every Winner Should Know
Winning a lottery prize, hitting a jackpot at the casino, or receiving another type of award can be exciting. However, before making plans for your newfound funds, it’s important to understand the tax implications. Federal…
What to Do When Your Small Business Faces Tax Problems
Businesses of every size can run into tax challenges, even when financial records are well organized. Cash flow shortages, missed filing deadlines, payroll tax mistakes or unexpected notices from the IRS can quickly become overwhelming…
Smart Midyear Tax Planning Moves for 2026
Midyear is an ideal time to review your financial situation and determine whether you’re on track to minimize your tax liability. Evaluating your income, deductions, and investments now gives you more flexibility to make adjustments…
Cash or Accrual Accounting? A Small Business Tax Guide
Selecting the right accounting method is one of the most important tax decisions a small business owner can make. The method you choose determines when income and expenses are recognized, which can directly impact your…
Will Your Social Security Benefits Be Taxable in 2026?
Many people assume the new tax deduction available to taxpayers age 65 and older means they no longer have to pay taxes on Social Security benefits. While the deduction can reduce taxable income, it does…