S-corporations are one of the most frequently discussed (but often misunderstood) tax structures for small business owners. While they can offer real savings on self-employment taxes, the benefits aren’t automatic – they depend on your income level, involvement in the business, and whether you’re ready to manage the added compliance responsibilities. Here’s what you need to know about how S-corps work, who they’re right for, and what’s required to maintain one.

The IRS has introduced a new federal income tax deduction for qualified overtime compensation, effective for tax years 2025 through 2028. Eligible workers can deduct up to $12,500 (or $25,000 on joint returns) of the overtime premium they earn above their regular rate of pay. This deduction reduces is available to FLSA-covered employees who meet specific eligibility requirements, including valid Social Security numbers and certain filing status conditions.

When the economy feels uncertain, families worry about job security and rising costs, but financial downturns don’t require panic – they call for clarity and preparation. By focusing on building liquidity, reviewing spending priorities, ensuring proper insurance coverage, and avoiding fear-based decisions, you can create stability during volatile times.

High-earning families often give generously throughout the year, but poor documentation and incomplete tracking leave thousands in tax deductions unclaimed. From non-cash donations to appreciated securities, each type of gift has specific IRS requirements that must be met to maximize benefits and avoid audit risk. By building a simple tracking system and understanding the rules, you can ensure your generosity works as efficiently as possible.

For high-income professionals locked out of traditional Roth contributions, mega Roth conversions offer a powerful alternative. By contributing after-tax dollars to fill unused space under the $72,000 annual 401(k) limit and immediately converting them to Roth, eligible savers can funnel tens of thousands annually into tax-free growth.

For many parents, providing financial security for their children is a top priority. But building that security involves more than funding college or opening a savings account. The real goal isn’t just to transfer wealth – it’s to prepare the next generation to manage, grow, and protect it.

When we talk about gifting as part of a tax strategy, many people assume it’s something only the ultra-wealthy need to worry about. But gifting is actually one of the simplest and most powerful financial planning tools available – and a thoughtful gifting strategy can make a meaningful difference for your family, both now and in the long run.

The IRS recently issued new guidance clarifying how the permanent 100% bonus depreciation deduction will work moving forward. This allows businesses to fully deduct the cost of qualified property in the year it’s placed in service, rather than depreciating it over several years.

Texas business owners just received one of the most significant tax breaks in recent state history with the approval of Proposition 9, which increases the business personal property tax exemption from $2,500 to $125,000 starting January 1, 2026. This fifty-fold increase will eliminate tax liability entirely for hundreds of thousands of small businesses, while creating powerful new planning opportunities for larger operations with multiple locations. Understanding how to maximize these savings could mean the difference between leaving tens of thousands of dollars on the table and capturing every dollar of tax relief you’re entitled to under the new law.

Hiring your child in your business can offer powerful tax advantages while teaching financial responsibility and supporting long-term wealth planning. Learn how to structure it properly, avoid IRS pitfalls, and make the most of this overlooked family strategy.

Mitigate the risk of IRS reclassification of compensation as disguised dividends. Learn how C corporations can structure owner-employee pay to stay compliant and tax-efficient.

Understand how the IRS taxes short-term rentals, from the 14-day rule to deductible expenses and 1099-K reporting. A must-read guide for short-term rental hosts.

Businesses must prepare 1099s for contractors and vendors by February 2, 2026. Understanding which forms to use and getting organized now can help you stay on track and avoid costly IRS penalties.

For most people, tax season brings a quiet panic about what they might be forgetting and a last-minute rush to pull everything together before the deadline. But it doesn’t have to be that way. With just a little preparation, you can avoid surprises, minimize your tax bill, and make the entire process smoother for both you and your advisor.

The IRS is offering penalty relief for 2025 as employers struggle to comply with new reporting requirements for tips and overtime pay under the OBBBA. While businesses won’t face penalties this year for failing to separately report qualified tips, overtime compensation, and occupation codes, this transition period is explicitly temporary—and smart employers will use it to prepare for full compliance in 2026.

Whether you’re an individual taxpayer or business owner, preparing early for tax time can reduce delays, minimize errors, and help your tax pros do their best work on your behalf. Our team has put together a practical guide to get you started on the right foot this tax season, including key deadlines, commonly required documents, and planning considerations.

The IRS and Congress have enacted tax law changes and regulatory updates that take effect this month and will impact individual taxpayers, employers, retirement plan sponsors, and businesses of all sizes. From tax filing to retirement planning, here are a few key things you should know about what’s new this year.

In 2026, families will have access to an additional savings opportunity to support their children’s financial futures.  Trump Accounts are a new tax-deferred investment account, created by the One Big Beautiful Bill Act in July 2025, parents or legal guardians can open that on behalf of minor children.

Trusts are powerful estate planning tools, but not all trusts are created equal. In this video, we break down the key differences between revocable and irrevocable trusts, including control, tax treatment, creditor protection, and long-term planning implications. Whether you’re building a basic estate plan or preserving multigenerational wealth, understanding these two foundational trust structures is essential.

Learn how to prepare for and respond to a business crisis with proven strategies. This guide covers real-world missteps, leadership tactics, and financial planning tips to help your business recover and thrive.

Think you know how capital gains work? Think again. Here are 4 surprising capital gains mistakes investors make—and how to avoid a surprise tax bill.

For the first time since 1986, dependent care flexible spending account limits are getting a major boost – rising from $5,000 to $7,500 for the 2026 plan year. But there’s a critical catch: employers should amend their plan documents by December 31, 2025. Here’s everything benefits administrators need to know to implement this historic change before time runs out.

The latest IRS final regulations under the SECURE 2.0 Act increase catch-up contribution limits for individuals aged 60 to 63 and require Roth contributions for higher-income earners. These changes aim to enhance retirement readiness but require plan administrators to navigate new operational complexities. Explore how these rules reshape retirement strategies and the paths to compliance.

Explore essential 2025 year-end tax strategies for businesses, updated for the One Big Beautiful Bill Act (OBBBA). From QBI planning to bonus depreciation, entity structure, and reporting changes, this guide helps you make informed, compliant, and tax-smart decisions before year-end.