Bonus depreciation class rule is something most business owners don’t hear about until it’s too late. Imagine this: you finally buy the big SUV for your company — $85,000. Perfect for client visits and hauling supplies. And yes, because it weighs over 6,000 lbs and is used 100% for business, you can write it off […]
Charitable giving has always been good for business, but under the new OBBBA charitable giving tax strategy, it’s now a powerful way to cut your tax bill. The law requires businesses to give at least 1% of taxable income before deductions start to count—but once you cross that threshold, every extra dollar you give unlocks […]
Updated for the 2025 filing year with a preview of 2026 enhancements under the One Big Beautiful Bill Act (OBBBA). What Is the Educator Expense Deduction? For 2025, eligible educators can claim an above-the-line deduction of up to $300 for qualifying out-of-pocket costs. This reduces AGI and applies whether or not you itemize. If both […]
Immediate R&D expensing for small businesses is finally here. Let’s make sure you get what’s yours. 💥 If your business has ever spent money developing software, testing products, or doing anything remotely close to research and development here in the U.S., this is for you. What Changed: Immediate R&D Expensing for Small Businesses The IRS […]
Roth conversion tax traps under OBBBA can sneak up on even the smartest business owners. Lisa is 59, runs a successful dental practice, earns around $220K a year, and just did what her financial advisor called a “smart Roth conversion.” She moved $100,000 from her traditional IRA into a Roth. She was excited—this meant tax-free […]
Tax strategy is my love language because it protects income—income that can then be put to work. That’s why I believe in tax strategy for generational wealth, because the right plan turns income into lasting assets. When I came to the United States and started working as a CPA in Orange County, California, wealth was […]
When it comes to OBBBA 2025 tax planning, it’s anything but “business as usual.” The bill locked in permanent tax rates while tightening rules on deductions, credits, and timing. Translation: waiting until December to figure out your taxes will cost you money. OBBBA 2025 Tax Planning: What Changed for Business Owners Key Deadlines That Shape […]
When you hear “1031 Exchange,” you probably think:“Sell property → Buy new property → Avoid the tax hit.” Before you jump, here’s how the 1031 exchange rules actually work—and what to watch for. Sounds great, right? Especially if someone’s dangling a hefty W2 reduction in front of you. But here’s the truth:It’s not magic. It’s […]
OBBBA convert personal vehicle to business — here’s how to use 100% bonus depreciation to create a legitimate 2025 deduction from a car you already own. How the OBBBA Convert Personal Vehicle to Business Rule Works When you begin using a personal vehicle in your business, the tax code treats that date as when the […]