Tool for Your Use: Updated 2026 Section 199A Calculator
Beginning in 2026, the Section 199A qualified business income deduction becomes a permanent part of tax planning for pass-through business owners. This deduction can allow owners of sole proprietorships, partnerships, S corporations, and certain other pass-through businesses to deduct up to 20 percent of their qualified business income. C corporations do not qualify. The 2026 […]
ERC Refund in 2026: One Great Way to Handle It
If your business receives an Employee Retention Credit (ERC) refund in 2026 for wages paid in 2020 or 2021, you may have an important tax planning opportunity. Many businesses filed ERC claims years after they filed their original income tax returns. Because the IRS took so long to process many claims, some refunds are only […]
Don’t Make This Costly Portability Election Mistake
The One Big Beautiful Bill Act (OBBBA) permanently increased the federal estate and gift tax exemption to a whopping $15 million per person for 2026 and later. You can give away while alive and/or bequeath at death this much money or property free of federal estate and gift tax. If you’re married, you and your […]
HSAs After Death: What You Need to Know
Health Savings Accounts (HSAs) are a great way to save money. Unlike any other tax-advantaged account, they provide a triple tax benefit: Contributions are tax-deductible. Monies inside the HSA grow tax-free Withdrawals are tax-free if used for medical expenses. Withdrawals after age 65, if not used for medical expenses, are subject to regular income taxes. […]