When’s the best time to lower your tax bill? Hint: It’s not April. It’s right now. 2025’s One Big Beautiful Bill brought significant business tax changes, opening up several strategies worth reviewing before year-end. And the sooner you plan, the more you might be able to save. Consider setting up a tax-favored retirement plan. Contributions […]
Business Taxes
COVID-era Tax Penalties: There May be Money on the Table — But Not for Long
A recent federal court ruling, Kwong v. United States, has opened a potential window for taxpayers to recover certain IRS penalties and interest tied to the COVID-19 pandemic. If you paid failure-to-file or failure-to-pay penalties during that period — or have unpaid assessed amounts — you may be eligible for a refund or abatement. The […]
What U.S. Importers Should Know About the New Tariff Refund Portal
A recent Supreme Court decision has created an unexpected opportunity for businesses that import goods into the United States — the chance to recover tariffs that a federal court determined were not legally valid. U.S. Customs and Border Protection has created a portal where qualifying businesses can submit refund requests for tariffs collected under the […]
Internal Controls 101: What Your Auditor is Looking For
Most business owners assume an audit is about checking whether their numbers add up. But there’s a lot more to an audit than ensuring the accuracy of your financial reporting, and it all comes down to internal controls. Internal controls are the checks and balances your organization puts in place to mitigate risk and protect […]
5 Signs Your Business has Outgrown Your Tax-only Accountant
The accountant who got your business through the startup phase isn’t always the one who gets you to $5 million — or $10M or $20M. As your business grows, the inflection point usually comes when you need financing, are seeking proactive tax mitigation strategies or need to reward key employees to help retain critical talent. […]
Self-Employment Tax Planning: Start Now or Pay Later
Working for yourself can be great, but it can also be quite… taxing. Being your own boss comes with incredible perks — like working where you want and when you want — but the tax side of things can be a bit more complex than when you had an employer handling everything. To help avoid […]