Recent News

Important 2026 tax figures for businesses

A new year brings many new tax-related figures for businesses. Here’s an overview of key figures for 2026. Be aware that exceptions or additional rules or limits may apply. Depreciation-related tax breaks Bonus depreciation: 100% Section 179 expensing limit: $2.56 million Section 179 phaseout threshold: $4.09 million Qualified retirement plan limits 401(k), 403(b) and 457 plan deferrals: $24,500 401(k), 403(b) and 457 plan catch-up contributions for those age 50 or older: $8,000 401(k), 403(b) and 457 plan additional catch-up contributions for those age 60, 61, 62 or 63: $3,250 SIMPLE deferrals: $17,000 SIMPLE catch-up contributions for those age 50 or...

2026 General Payroll Information

Acuity's 2026 General Payroll Information Brochure is now available. Please see link below to access. Brochure Link

Reporting Qualified Overtime for 2025

The One Big Beautiful Bill Act (OBBBA) passed in July creates a new federal income tax deduction for “qualified overtime” pay for eligible taxpayers. Employers are responsible to provide the amount of qualified overtime that is eligible to be excluded to their employees. The IRS has issued guidance on the reporting of Qualified Overtime Compensation for the 2025 reporting year and has designated 2025 as a transition year and therefore will not penalize employers for failing to separately report qualified overtime or report it on the employee's W-2 or 1099. The IRS recognizes employers may not have the required information...

Productivity metrics can help business owners see reality

As a business owner, your eyes may tell you that your employees are working hard. But discerning whether their efforts are truly contributing to the bottom line might be a bit hazy. The solution: Track productivity metrics. When calculated correctly and consistently, quantitative measures can help you see business reality much more clearly. Why the numbers matter No matter how big or small, every company has three primary resources: time, talent and capital. Productivity metrics help you understand how effectively you’re using them. Rather than relying on assumptions or gut feelings, running the numbers sheds light on whether productivity is...

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...