Tax Strategy Blog for Business Owners

The $740,000 Crypto Scam: What Happened Can You Owe Taxes on Money Lost to a Crypto Scam? Short answer: Yes. Crypto scam tax consequences can be devastating. The IRS can hold you liable for taxes and penalties on retirement funds lost to fraud, even if you never received the money. Here's a real case that […]

OBBBA business interest deduction rules are getting easier starting in 2025. The One Big Beautiful Bill Act (OBBBA) permanently installs more favorable rules for determining how much business interest expense can be deducted, making it simpler for businesses to plan ahead and increase allowable interest expense deductions. The Basics: How Business Interest Deduction Limits Work […]

AI data security for accounting firms matters—and clients are asking smart questions about privacy, transparency, and impersonation risks (see recent Talker Research findings). We want to be proactive and clear about how we handle security at our firm. AI data security for accounting firms - What consumers are worried about (and why it matters) I […]

Congress loves acronyms, and this year two of them can make quite an impact on the business owner’s wallet: Opportunity Zones (OZs) and Energy Community Zones (ECs). When comparing Opportunity Zones vs Energy Community Zones, it’s easy to mix them up. Yet, each offers a distinct path to lower your taxes — one through reinvestment […]

Bonus depreciation tax strategy can save both high-earning W-2s and business owners a LOT on taxes. However, it can be done wrong. The Wrong Way to Approach Bonus Depreciation Tax Strategy NO. NO. NO. NO. The Right Way to Apply Bonus Depreciation Tax Strategy NOW make the call to your tax strategist.  NOW.  Then take […]

IRS list for OBBBA tips deduction—from 2025 through 2028, workers in occupations that customarily and regularly received tips on or before December 31, 2024 may deduct up to $25,000 of qualified tips from taxable income under the One Big Beautiful Bill Act (OBBBA). What are “qualified tips” under OBBBA? Qualified tips are voluntary cash or […]

OBBBA no tax on tips is one of the most talked-about changes in the new tax law. It’s a temporary deduction from 2025 to 2028 that allows qualifying workers to exclude up to $25,000 of tip income from federal income tax. Here’s who qualifies, what counts as a tip, and how to claim it correctly. […]

Due diligence in investing often gets overlooked when opportunities sound exciting and the people involved seem credible. But skipping it can cost far more than money—it can shake your confidence and leave scars that take years to recover from. Trust should not be given easily. I remember sitting across from a couple who owned a […]

The OBBBA gambling loss deduction change is one of the sneakiest IRS moves yet. Buried in the One Big Beautiful Bill Act (OBBBA), it creates serious headaches for gamblers across the country. Starting in 2026, both casual and professional gamblers will be limited to deducting only 90% of their gambling losses. That leftover 10%? Gone. […]