Providing employees with company vehicles is a common business practice, especially for contractors, sales personnel, service technicians, executives, and employees who regularly travel to customer … [Read more...] about Employee Personal Use of Company Vehicles: How to Properly Report the Benefit on Form W-2
Business Strategies
IRS Mileage Log Requirements
What Every Business Owner Needs to Know For many business owners, self-employed individuals, real estate agents, contractors, consultants, and gig workers, the mileage deduction is one of the … [Read more...] about IRS Mileage Log Requirements
Lawmakers Punish Employers: Break-Room Coffee Not Deductible
Congress has quietly turned a long-standing, commonsense business practice into a tax trap: starting in 2026, employers will lose the deduction for ordinary break-room coffee and snacks—even though … [Read more...] about Lawmakers Punish Employers: Break-Room Coffee Not Deductible
OBBBA Expands Tax Benefits of Qualified Small Business Stock
Do you own stock in a high-growth small business? Or are you a founder, investor, or employee of one? If so, you should know about major tax changes in the One Big Beautiful Bill Act (OBBBA) that … [Read more...] about OBBBA Expands Tax Benefits of Qualified Small Business Stock
Understanding Deferred Business Trusts: The Two-Year Rule Explained
When selling a business, owners often face a major dilemma: how to unlock the value of their company while managing the tax burden that comes with the sale. One strategy that has gained traction is … [Read more...] about Understanding Deferred Business Trusts: The Two-Year Rule Explained
New Tax Credit for PA Businesses
On July 17, 2024, Pennsylvania Governor Josh Shapiro signed House Bill 1745 into law. This bill provides a new tax credit for PA businesses that contribute to their employees' 529 plans. The … [Read more...] about New Tax Credit for PA Businesses
