Tag: personal-finance
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How Much Does the New Tax Bill Change Things for Me? Understanding the QBI Update is Essential for Business Owners.
Among the many changes in the new One Big Beautiful Bill (OBBBA), the Qualified Business Income (QBI) deduction got a permanent upgrade for small business owners. What started with the TCJA temporary provisions has now been placed permanently into action (or until a future congress changes it). While the QBI deduction did not materially change…
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Dependent Care Perks: Level Up Your Family Tax Strategy
Raising children is one of the most expensive things in life. Fortunately for us parents, as part of the recent tax bill, the OBBBA solidified the expanded Child Tax Credit amount. In 2025, you may be eligible to receive a credit for each qualifying dependent up to $2,200. That will generally lead to another question:…
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Should You Set Up an HSA for Your Business? How a Health Savings Account Works.
The Health Savings Account (HSA) is a valuable financial planning tool that helps cover medical expenses for you and your family. Short of taxes and retirement, medical expenses are one of the highest expenses that Americans have to deal with. When one can properly utilize the HSA effectively, it is possible to pay for thousands…
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The One Big Beautiful Bill Act. 7 High-Level Updates for Small Business Owners To Know.
Now that President Trump has signed another major tax bill, the rest of America gets to figure out what the bill is actually changing (or not changing). Since the Tax Cuts and Jobs Act (TCJA) of 2017, many temporary provisions were established that were set to expire at the end of 2025. On July 4th,…
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Struggling With Capital Gains Tax? Exploring Tax Deferral Through Qualified Opportunity Zones.
Capital Gains are always a double-edged sword. On one hand, selling an appreciated taxable asset has created a tax bill. On the other hand, that means your investment was successful, as in you sold it for more than you bought it. Especially in years with large tax bills, using different strategies to address your tax…
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Is Buying Rental Properties a Good Idea? Why Business Owners are Drawn to Real Estate.
Why do so many business owners buy real estate? Usually, when I am reviewing the total assets of a business owner, inevitably, they own real estate outside of their home. That could be residential or commercial real estate, and usually more than one. While real estate is one of many investments, some owners value the…
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Planning to Exit Your Business? How Owners Structure Their Deals for More Post-Tax Dollars.
Different types of business sales can have dramatically different outcomes. After valuing a company and a potential buyer wants to purchase the business, the next step is structuring the type of sale between the buyer and seller. One of the most important goals for sellers is to minimize the amount of taxes on the sale.…
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How Much is Your Business Worth? The Power of Knowing the Value of Your Business.
Do you know the value of your business? Most owners don’t, and it could cost them. Even though most businesses in the US are technically small businesses, understanding the true value of these companies has not been generally accepted. Every owner who wants to sell their company will eventually go through the valuation process. However,…
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Why is Your Tax Bill Higher Than You Expected? Understanding NIIT and Additional Medicare Tax.
If you’re a high-income earner or business owner, you may have looked at your tax return and wondered, “Why does this number feel bigger than it should be?”. After accounting for income tax and capital gains tax, there are two additional taxes that get added to those with high enough incomes: Net Investment Income Tax…
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What is Tax Loss Harvesting? A Smart Way to Cut Taxes Without Hurting Your Investments.
When markets get choppy, some clients ask for proactive ways to take advantage of everything going on. For business owners and professionals with money in brokerage accounts, they could have an opportunity to lower their taxes without altering their overall investment plan. Tax loss harvesting is a strategy that lets you use temporary losses to…
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