2025 won’t bring about many huge changes. Most of the key tax changes going into effect in the new year amount to adjustments to income or contribution limits. As of this article’s writing, the tax cuts ushered in as part of the Tax Cuts and Jobs Act of 2017—related to income tax and the estate
As the year comes to a close, it’s the perfect time for business owners and individuals to start organizing their financial documents and preparing for tax season. Proper preparation ensures a smoother and less stressful experience when working with your accountant. Here are some key tips to help you get ready for tax time. Organize
The tax year 2025 adjustments described below generally apply to income tax returns to be filed starting tax season 2026. The tax items for tax year 2025 of greatest interest to many taxpayers include the following dollar amounts: Standard Deductions. For single taxpayers and married individuals filing separately for tax year 2025, the standard deduction
An estimate of value and a full business valuation represent two different tiers of understanding the worth of a business. An estimate of value offers a broad, general approximation of what your business might be worth in the current market. This is typically derived using a limited amount of financial data, some comparable business sales,
Preparing for tax season can often be a daunting task, especially when it comes to organizing and collecting all the necessary documents. However, with a bit of planning and a systematic approach, you can make the process much smoother and less stressful. Here are some practical tips for maintaining and collecting your documents to ensure
You probably know the myth of innovation as a sudden flash of insight that comes from nowhere. We read about that “aha” moment, or that light bulb turning on in the mind of some inventor or innovator, and this is true to an extent. Einstein really did get flashes of insight while shaving in the
Tax season can be a stressful time for many, but with some organization and planning throughout the year, it doesn’t have to be. Whether you’re a business owner, a freelancer, or just managing your personal finances, staying organized can save you time, money, and stress. Here are some tips to help you stay on top
Retirement planning is a crucial aspect of financial management, ensuring that you have the resources and stability to enjoy your post-working years. Here are ten essential tips to help you prepare effectively for retirement. Start Early The earlier you begin saving for retirement, the better. Compound interest works in your favor, allowing your investments to
In the world of entrepreneurship, small businesses play a pivotal role in driving innovation, creating jobs, and stimulating economic growth. However, despite their significance, a staggering 90% of small businesses fail within their initial years. This high failure rate can be attributed to a variety of factors ranging from financial mismanagement to market dynamics. Understanding
When meeting with consulting clients, many professionals naturally feel comfortable getting down to business by heading straight to crunching numbers, going through reports, etc. This approach may seem logical, but it’s not always the best approach for relationship building. What many professionals might consider a confident tone may come across as overbearing or even intimidating
