Material participation: Why it matters for LLP and LLC owners
The passive activity loss (PAL) rules may limit your ability to deduct losses from a business structured as a limited liability partnership (LLP) or l...
With Odds of a Recession Going Up, Here Are 5 Things Small Businesses Should Do Now
When a downturn hits, small businesses have the shortest runway and take the hardest hit. And that vulnerability is exactly what separates the busines...
After you’ve filed your 2025 tax return, what’s next? It’s easy to move on to other things, but taking a little time to address some tax-related items...
What you need to know about filing an extension — and minimizing penalties
If you don’t have everything ready to complete your 2025 federal individual income tax return by the April 15 deadline, you can request an automatic e...
Companies that engage in research and development activities may qualify for a federal tax credit for some of those expenses. The credit is complicate...
Whether you’re filing your 2025 individual income tax return or planning for 2026, it’s important to know if you can deduct vehicle-related expenses....
Most businesses close their books for tax and accounting purposes on December 31 because it aligns with the calendar year. But a calendar year isn’t.....
Cross-functional teams can boost collaboration — and sales
“Cross-functional” sales teams that collaborate with other departments often perform more effectively than siloed ones. By providing feedback and supp...
Don’t miss your opportunity to make a 2025 IRA contribution — whether you can deduct it or not
Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination of the two). But once the contribution d...
Why you might want to build a wall between your business and its real estate
Does your business own its real estate in a separate holding company, such as a limited liability company (LLC) or limited partnership? This practice...
Indiana Adopts No Tax on Tips, Overtime Only for 2026 Tax Year
Eligible Hoosiers whose earnings this year include gratuities or overtime will not be required to pay state or county income tax on the money when the...
