Tax Filing Update for Pass-Through Entities
Do you operate a business as a partnership, a limited liability company (LLC) treated as a partnership for tax purposes or an S corporation? In tax lingo, these are called “pass-through” entities because their taxable income items, tax deductions and tax credits are passed through to their owners and taken into account on the owners’ federal […]
IRS Outlines 2025 Rules for New Overtime and Tips Tax Exemption, With Employer Reporting to Begin in 2026
The IRS has issued new guidance clarifying how the “no tax on overtime and tips” provision of the One Big Beautiful Bill Act (OBBBA) will work in its first year of implementation. It has been confirmed that, for 2025 only, employers won’t have to separate which portions of overtime pay qualify for the tax break and […]
New IRS Contribution Limit Adjustments for 2026
The IRS has announced updates to contribution limits for the new year to help individuals better save for retirement. There have been increases to the 401(k), 403(b), 457(b), IRA, and catch-up contribution limits, along with changes made in SECURE 2.0 declaring that a higher catch-up contribution limit applies for employees aged 60, 61, 62, and […]
IRS Rule Change: Roth Required for HPI Catch‑Up Contributions Starting in 2026
Starting in 2026, all 401(k) plans must offer Roth provisions if you wish to allow catch-up contributions for Highly Paid Individuals (HPIs), as defined by the IRS. For 2026, an HPI is any employee who had more than $150,000 in FICA wages in 2025. If your plan does not include a Roth option, HPIs will […]
Tap Into the 20% Rehabilitation Tax Credit for Business Space Improvements
If your business occupies a large space and you’re planning to relocate, expand or renovate in the future, consider the potential benefits of the rehabilitation tax credit. This could be particularly valuable if you’re interested in historic properties. The credit is equal to 20% of the qualified rehabilitation expenditures (QREs) for a qualified rehabilitated building […]
New Tax Provisions in the One Big Beautiful Bill Act
With the recent signing of the One Big Beautiful Bill Act, you may have questions about how it’s going to impact your financial future. Here’s what you need to know.
Automate That! How AI and Other Software Can Help Improve Efficiency
Artificial intelligence (AI) and other forms of automating repetitive tasks can improve donor engagement, optimize fundraising and expand outreach for nonprofits. Here’s how.
Decoding Indiana’s Latest Tax Legislation: Key Changes for 2025
Governor Braun’s signing of SB 1 brings significant changes to Indiana’s property and local income tax regulations. Here’s what you need to know.
FinCEN Updates BOI Reporting Requirements
FinCEN issues an interim final rule that significantly changes the BOI reporting requirements.
Planning for the Future: 5 Business Succession Options and Their Tax Implications
Business owners have several options when planning for succession. Here are five to consider, along with the tax implications.
