A recent survey found that 45% of small businesses reported growth, but 78% wanted to grow. This January 2026 data from Intuit QuickBooks Small Business Insights suggests that many small businesses are struggling to achieve their expansion goals.
Continue reading
Are you a business owner or self-employed? Do you drive for business purposes? If so, you’ll be happy to know that the IRS’s standard mileage rate for business driving in 2026 is 72.5 cents per mile (up from 70 cents in 2025). Meanwhile, medical and moving mileage rates are 20.5 cents per mile, while the charitable rate is 14 cents.
You can choose to deduct eligible vehicle expenses based on business use under the actual expense method or by applying the standard mileage rate, which simplifies recordkeeping. Bear in mind, however, that the IRS requires documentation in either case. Contact the office for help determining which approach delivers the greater tax benefit for your situation.
408-252-1800
Photo by Mike_Birdy from Freerange Stock.
If your business conducts research or product development, a significant tax law change could unlock tax savings.
Continue reading
It’s not too late to boost your IRA for 2025. You have until April 15, 2026, to make contributions for the 2025 tax year.
Continue reading
If you’re thinking about starting a business, make sure you understand your federal tax responsibilities before opening your doors.
Continue reading
If you buy, sell or trade digital assets, such as cryptocurrency or certain nonfungible tokens (NFTs), new reporting requirements will likely affect how your transactions are reported to and reviewed by the IRS.
Continue reading
Are you subject to the alternative minimum tax (AMT)? In general, this tax applies if your “tentative minimum tax” exceeds your regular income tax liability.
Continue reading
Beginning in 2026, a significant change to retirement plan catch-up contributions takes effect. Part of the 2022 Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act, the change affects higher-income taxpayers age 50 and older who contribute to certain types of employer-sponsored retirement plans.
Continue reading
You have until April 15, 2026, the tax filing deadline, to make 2025 contributions to an IRA.
Continue reading
Closing a business can be overwhelming. But it’s important not to let tax duties fall through the cracks.
Continue reading