Strategic business tax planning and filing guides for S-Corps, C-Corps, LLCs, and Partnerships. Explore tax optimization strategies tailored to every stage of your business growth.
Can I still claim the §45Q credit if EPA drops subpart RR reporting? Yes — the IRS just answered that question. Under the new 45Q safe harbor in Notice 2026-50, taxpayers who cannot rely on subpart RR of the Greenhouse Gas Reporting Program can still document secure geological storage for the §45Q credit, and the…
What California state tax changes should I prepare for? The largest is a sales tax on electronically delivered prewritten software starting January 1, 2027. Alongside it: an extended business tax credit limitation, a wave of states decoupling from federal research expensing, and an amnesty window that closes October 31, 2026. State tax moves faster than…
Which 2026 federal tax changes affect my small business? The ones with a date attached: an August guidance package implementing the 2025 reconciliation law, backup withholding on payment-app settlements, the employer paid leave credit, and a September 30 federal funding deadline that decides how fast the IRS answers you this fall. Most tax headlines never…
How much of my business interest is deductible after the OBBBA? The IRS just refreshed its answer. In August 2026, the IRS reissued its Section 163(j) FAQs to reflect the One, Big, Beautiful Bill Act. The core rule still caps the business interest deduction — but the way you calculate the cap, who qualifies as…
Do I still need to file a FinCEN BOI report in 2026? Almost certainly not — if your company was formed in a U.S. state. The FinCEN BOI final rule (effective August 14, 2026) exempts every domestic reporting company and every U.S. person beneficial owner from BOI reporting. Only foreign entities registered to do business…
Bookkeeping records the past and tax work reports it. CFO work changes what happens next, and complexity, not revenue, is what makes it worth paying for.
A dental practice runs three quarterly cycles that do not line up: payroll returns, federal estimated tax, and California on a 30/40/0/30 schedule.
Does the new NYC junk fees rule apply to my business? If you sell goods or services in New York City — whether food delivery, tickets, hotels, gyms, or SaaS subscriptions — likely yes. The city’s new NYC junk fees rule and its final Click-to-Cancel rule change how you must price and how easily customers…
When is the Cycle 4 plan restatement deadline? The IRS set it at September 30, 2028. If your business sponsors a pre-approved 401(k) or profit-sharing plan, you must adopt the newly updated plan document by that date. The Cycle 4 plan restatement keeps your plan’s tax-qualified status intact. If your company offers a 401(k), profit-sharing,…
When is my Form 2290 filing deadline? Your Form 2290 filing deadline is the last day of the month after the month your taxable heavy highway vehicle was first used on a public highway during the July 1, 2026 – June 30, 2027 tax period. Vehicles first used in July 2026 are due by September…
Can a nonresident company still act as a US importer of record after December 2026? Only in a narrower form. A June 3, 2026 presidential executive order tightens eligibility, bonding, and disclosures for the foreign importer of record model, and pairs those customs changes with new federal-income-tax and state-nexus exposure. If your business imports into…
How much of my overtime pay is actually tax-free? Less than most workers think. The new no tax on overtime deduction is capped at $12,500 (single) or $25,000 (joint), phases out above $150,000 MAGI, and applies only to the FLSA overtime premium — not the entire overtime paycheck. On August 6, 2026 the IRS released…
Does my business qualify for the new paid family leave credit? If you pay wages during qualifying leave — or pay premiums for a PFML insurance policy — you likely do. The paid family leave credit is now permanent under the Working Families Tax Cuts, and IRS Notice 2026-28 (Aug. 5, 2026) explains how to…
What changed for California business owners in 2026? The California business tax 2026 package brings SB 122 and SB 180 — extending the business credit limitation, cutting the first-year annual tax to $400 for many new entities, and stretching the California Competes Tax Credit through 2035. And the next CCTC application window closes on August…
Estate tax vs inheritance tax — who actually pays, and when? The estate tax vs inheritance tax distinction is simple in principle: the estate pays estate tax before assets are distributed; the beneficiary pays inheritance tax after they receive them. In 2026 the federal estate tax exemption sits at $15 million per person (IRS Rev….
Do U.S. small businesses still have to file BOI with FinCEN in 2026? Not right now. Under Treasury’s March 2025 interim final rule, FinCEN BOI reporting applies only to foreign reporting companies. Domestic entities and U.S. citizens are exempt while FinCEN works to finalize the rule. The Corporate Transparency Act was supposed to be one…
When is the BBA partnership push-out deadline for a pass-through partner? If you received a Form 8986 tied to a partnership that filed an Administrative Adjustment Request (AAR) or was audited under the BBA partnership audit regime, the deadline to pay or push out further is generally September 15, 2026 — the exact date is…
How do I close a California business entity so the $800 franchise tax stops? You must complete two parallel filings — a final tax return with the Franchise Tax Board (FTB) and a dissolution, surrender, or cancellation with the Secretary of State (SOS) — within 12 months. Missing either one keeps the entity legally alive…
Is the pass through entity tax election still worth it after the higher SALT cap? For many owners of profitable pass-throughs in high-tax states, the answer is still yes — but the analysis is now owner-level, state-specific, and no longer automatic. The pass through entity tax (PTET) survived the 2025 SALT cap increase; the decision…
How do I get an EIN verification letter without calling the IRS? Designated officials on your IRS Business Tax Account can now log in and download an EIN verification letter instantly — no more calling and waiting weeks for Letter 147c in the mail. If you have ever tried to open a business bank account,…
How do foreign entities e-file 1042-S and 1099 forms after FIRE is retired? Through the new IRS Foreign Filer TCC Registration System. It gives foreign filers whose authorized users have no U.S. SSN or ITIN a way to obtain a Transmitter Control Code and transmit information returns electronically through IDES. The way U.S. information returns…
Are all Charitable Remainder Annuity Trusts still safe to use? Yes — but a specific subset just became a reportable tax shelter. On July 8, 2026, Treasury and the IRS issued final regulations naming certain CRAT listed transactions, requiring participants and material advisors to disclose them or face penalties. Charitable Remainder Annuity Trusts have long…
Do seasonal and part-time workers change my payroll tax obligations? No — hiring seasonal employees does not create a lighter set of federal payroll rules. Wages paid to summer, holiday, and part-time help are subject to the same federal income tax withholding, Social Security, and Medicare taxes as wages paid to your full-time staff. The…
Will California start charging sales tax on my SaaS subscriptions? Under a 2026 budget trailer bill (SB/AB 122), yes — as drafted, the California SaaS sales tax would extend the state’s 7.25% (plus district) sales and use tax to prewritten software and Software-as-a-Service beginning January 1, 2027, sourced to the purchaser’s California billing address. If…
Does my state follow the new federal OBBBA tax breaks? Not automatically. OBBBA state conformity varies widely — some states adopt the new federal rules on R&D expensing, bonus depreciation, and Section 179, while others decouple. A deduction you claim on your federal return may be added right back on your state return. The One…
What are the 2026 retirement plan limits? The 401(k) elective deferral limit rises to $24,500, the age-50 catch-up to $8,000, and a new “super catch-up” lets employees aged 60–63 add $11,250. The 2026 retirement plan limits also bring a major SECURE 2.0 change: high earners must now make catch-up contributions as Roth. If you sponsor…
What are the new 2026 tips and overtime deduction rules for employers? For tax years 2025 through 2028, employees can deduct up to $25,000 of qualified tips and up to $12,500 of qualified overtime pay ($25,000 for joint filers). The tips and overtime deduction is claimed on the employee’s return, but it creates new payroll…
How does a Pooled Employer Plan (PEP) compare to a state-mandated auto-IRA? A Pooled Employer Plan is a multi-employer 401(k) structure that satisfies state retirement mandates while offering meaningful advantages over state-sponsored auto-IRAs: $24,500 contribution limit (vs. $7,500 IRA), employer matching, institutional-quality investments, and fiduciary shift to the Pooled Plan Provider. For most small employers,…
What are the construction revenue recognition methods and when does each apply? Construction contractors choose between the percentage of completion method (PCM) — recognizing revenue proportionally as work progresses — and the completed contract method (CCM) — deferring all revenue until substantial completion. PCM is mandatory for long-term contracts held by companies with average annual…
What does cannabis Schedule III rescheduling mean for IRC Section 280E? The DOJ and DEA’s April 23, 2026 order rescheduling medical cannabis from Schedule I to Schedule III removes it from § 280E’s deduction prohibition — potentially cutting cannabis operators’ effective tax burden from 50-60% of operating income to closer to normal corporate rates, and…
