Recent News

Review your business expenses before year end

Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025 taxes and might even provide permanent tax savings. Also consider the impact of the One Big Beautiful Bill Act (OBBBA). It makes permanent or revises some Tax Cuts and Jobs Act (TCJA) provisions that reduced or eliminated certain deductions. “Ordinary and necessary” business expenses There’s no master list of deductible business expenses in the Internal Revenue Code (IRC). Although some deductions are expressly authorized or excluded, most are governed by the general rule of IRC Section 162, which...

Why start-ups should consider launching as S corporations

Launching a new business brings tough decisions. And that holds true whether you’re a fledgling entrepreneur starting your first company or an experienced businessperson expanding into a second or third enterprise. Among the most important calls you’ll need to make is how to structure the start-up for tax purposes. For many business owners, electing S corporation status is a savvy move. But it’s not right for everyone. Here are some important points to consider before you decide. What’s it all about? An S corporation is a tax election available only to certain U.S. companies. To make the election, you’ll need...

Is your company’s pricing strategy still viable?

Pricing is among the most powerful levers for business owners to calibrate their companies’ profitability. Set prices too low and you risk leaving money on the table. Set them too high and customers may pass you by for cheaper competitors.Your continuous objective should be to find that sweet spot where prices are competitive while supporting your profit margins and long-term growth. Trouble is, that sweet spot tends to move around a lot — so you must regularly reevaluate your pricing strategy. Crunching the numbers To get started, crunch some numbers. Use your financial statements to determine whether your current prices...

How businesses can fund a buy-sell agreement

How businesses can fund a buy-sell agreement Businesses with more than one owner benefit from having multiple viewpoints and varying skill sets. However, they also face serious risks of uncertainty and conflict if one of the owners suddenly departs or undergoes a major life change. A carefully crafted buy-sell agreement can guard against these risks — if it’s securely funded. Transfer guidelines A “buy-sell” (as it’s often called) is a legally enforceable contract among a company’s owners that sets guidelines for transferring ownership interests. It gives the remaining owners or the business itself the right — or, in some cases,...

Businesses strive for balance in hybrid work models

If your business allows employees to perform their jobs under a hybrid work model, it’s not alone. Ever since the pandemic, many companies have sought to strike a balance between permitting some remote work while also requiring staff to come into the office (or another type of facility). Data released this year shows that, by and large, businesses seem to have found a certain equilibrium regarding hybrid work. However, maintaining the right balance for your company will require a careful eye going forward. Schedule control Just this month, Gallup published survey results showing that, as of May 2025, 51% of...

Major Changes Coming to Federal Payments

On March 25, 2025, Executive Order 14247 was signed into law. Starting September 30, 2025, the Federal government will change how it makes and receives payments. The government will transition away from paper payments like checks and money orders and shift almost entirely to modern, electronic payment methods. The goal is to increase efficiency, reduce costs, prevent fraud, and improve the security of payments involving the Federal government. Key Changes End of Paper Checks:Soon, the Treasury will stop issuing paper checks for most Federal payments—including tax refunds, benefits like Social Security, vendor payments, and more—with only a few exceptions. Electronic-Only...