Financial Resilience: Manage Business Performance and Personal Risk Together
For business owners, financial decisions rarely stay within company walls – they extend into personal wealth and security. Financial resilience emerges when business health and personal protection are managed together, not in isolation. This article explores how owners can strengthen both through disciplined financial monitoring, strategic risk management, and intentional separation between enterprise and personal finances.
Understanding the IRS’s new deduction for qualified overtime compensation
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.
How Changes in Federal Tax Policy Affect Long-Term Business Planning
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.
IRS clarifies 100% First-Year Bonus Depreciation Rules
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.
Tax Season Is Here! How to Prepare Your Business Filing
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.
IRS Changes Taking Effect In January
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.
Rental or A Business? Tax Treatment of Short-Term Rentals
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.
What Does a CPA Firm Actually Do? A Guide for Chattanooga Businesses
Tax season may when you notice your CPA, but the most valuable work often happens long before and after the filing deadline. In Chattanooga, with its mix of construction firms, healthcare providers, nonprofits, real estate investors, and manufacturers, a CPA firm becomes your guide for everyday financial choices as well as turning points like expansion […]
Nonprofits Must Act Now On Solar Direct Pay Registration
Nonprofit organizations pursuing solar energy projects face compressed timelines and new compliance hurdles under the One Big Beautiful Bill Act (OBBBA). This article outlines critical deadlines, registration requirements for IRS Direct Pay, and strategic considerations to secure refundable clean energy tax credits. Immediate action is essential to avoid forfeiting substantial federal benefits.
Year-End Tax Planning Strategies for Individuals and Small Businesses
Most people don’t start thinking about taxes until April — but by then, it’s too late to make a real impact. The real work, the kind that actually moves the numbers, happens now, in the final weeks of the year. This is your window to shift income, manage expenses, and set yourself up to start […]