Tax Strategies

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 extension. Filing […]

Are you a restaurant owner, bar manager, or food and beverage employer? If your business involves tipped employees, you could be eligible for a federal tax credit that helps offset Social Security and Medicare taxes – commonly known as FICA […]

April 15th is the deadline for more than just your income tax return You know your 2025 federal income tax return is due April 15, 2026. But do you know what else has an April 15 deadline? If you don’t, […]

The deadlines for filing 2025 tax returns (or extensions) are fast approaching. Although most tax planning moves must be completed by December 31 of the tax year, there are some decisions you can make when filing your return that can […]

An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under the One Big Beautiful Bill Act (OBBBA) will make it beneficial for more taxpayers to […]

Whether it’s down payments, birthday presents, or car repairs, a desire to share our good fortune with friends and family when they need it most is only natural. However, when tax time rolls around, both the giver and the recipient […]

Beginning in 2026, individuals who itemize deductions and donate to charity will face a new limit on their charitable deductions. And in some cases, they’ll face two new limits. But there’s some good news for non-itemizing individuals who make charitable […]

Unlocking Retirement Savings: The Backdoor Roth IRA Strategy Retirement savings are a cornerstone of financial security, yet high-income earners often hit roadblocks when trying to contribute to Roth IRAs due to income limits. Enter The Backdoor Roth IRA – a […]

Setting the Stage In the ever-changing economic landscape, the “S-Corporation” (S-Corp) continues to be touted as a top option for business owners seeking favorable tax treatment. An S-Corp enjoys the limited liability protections of a corporation while also boasting the […]

As the tax deadline approaches, many business owners wonder how they can reduce their accounting and tax preparation costs. The quick answer is to do as much as you can before sending your information to your tax accountant. Many business […]