tax
Commercial real estate usually must be depreciated over 39 years. But certain real estate improvements — specifically, qualified improvement property (QIP) — are eligible for accelerated depreciation and can even be…
If you have employees who travel for business, you know how frustrating it can be to manage reimbursements and the accompanying receipts for meals, hotels, and incidentals. To make this…
Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance and tax savings. Good records…
The Budget Reconciliation and Financing Act of 2025 was passed on May 20, 2025. The new legislation makes several updates to Maryland tax law. Here is a summary of the…
The One Big Beautiful Bill Act (OBBBA), which was enacted on July 4, 2025, is filled with favorable tax provisions for businesses. It makes permanent or extends many tax breaks…
Will you be able to benefit from the One Big Beautiful Bill Act (OBBBA), signed into law earlier this year? The law makes many tax provisions, which were scheduled to…
A major tax change is here for businesses with research and experimental (R&E) expenses. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) reinstated the immediate deduction for U.S.-based…
Charitable giving is often about more than generosity; it’s also a key part of a thoughtful tax and legacy strategy. The One Big Beautiful Bill Act (OBBBA) introduces new opportunities…
In 2023, taxpayers claimed more than 8 billion dollars’ worth of clean and energy-efficient tax credits. With a multitude of credits available, it was easier for the everyday person to…
Divorce is stressful under any circumstances, but for business owners, the process can be even more complicated. Your business ownership interest is often one of your largest personal assets, and…
If you own an unincorporated small business, you may be frustrated with high self-employment (SE) tax bills. One way to lower your SE tax liability is to convert your business…
One of the most critical decisions entrepreneurs make when starting or restructuring a business is choosing the right entity type. This choice directly impacts how the business is taxed, the…
Renting to family and friends: Handle with care Ordinarily, you can deduct the expenses of owning and operating a rental property. You may even be able to claim a loss…
To manage their finances and accurately file their taxes, most small business owners must choose between two accounting methods: cash or accrual. This choice directly affects how and when you…
The One Big Beautiful Bill Act (OBBBA) includes a number of beneficial changes that will help small business taxpayers. Perhaps the biggest and best changes are liberalized rules for depreciating…