by Jackie Scroggs | Sep 5, 2025 | Newsletter
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 level of administrative complexity and regulatory compliance obligations....
by Jackie Scroggs | Sep 5, 2025 | Newsletter
If you make quarterly estimated tax payments, the amount you owe may be affected by the One Big Beautiful Bill Act (OBBBA). The law, which was enacted on July 4, 2025, introduces new deductions, credits and tax provisions that could shift your income tax liability...
by Jackie Scroggs | Sep 5, 2025 | Newsletter
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 to an S corporation. SE tax basics Sole proprietorship income, as well as partnership income...
by Jackie Scroggs | Aug 7, 2025 | Newsletter
We wanted to bring your attention to a major piece of tax legislation that was just signed into law on July 4th. Officially referred to as the 2025 Budget Reconciliation Act (unofficially nicknamed the One Big Beautiful Bill Act), this new law includes permanent tax...
by Jackie Scroggs | Mar 17, 2025 | Newsletter
Prior to the enactment of the Tax Cuts and Jobs Act (TCJA), businesses were able to claim a tax deduction for most business-related interest expense. The TCJA created Section 163(j), which generally limits deductions of business interest, with certain exceptions. If...
by Jackie Scroggs | Mar 17, 2025 | Newsletter
As a business owner, you may be eligible to claim home office tax deductions that will reduce your taxable income. However, it’s crucial to understand the IRS rules to ensure compliance and avoid potential IRS audit risks. There are two methods for claiming this tax...
