Purchasing farm equipment is often a significant financial burden. The worst part? Equipment like tractors and combiners loses value once they leave the lot. But what if there were a way to turn this financial burden into a powerful tax advantage? Well, there is. Section 179 and bonus depreciation are tax provisions that allow farmers […]
Category: News
No More Taxes on Tips and Overtime
What This Means for Service Industry Employers Let’s Talk Tips Big news is brewing for restaurants, bars, hotels, and every corner of the service industry: the government’s finally easing up on taxing tips and overtime. That’s right— under new legislation, certain earnings are now tax-exempt, giving workers more cash in hand and employers a new […]
Read More
No More Taxes on Tips and Overtime
Complete Guide to Sales Tax Exemptions
Sales tax exemptions provide relief from state-level sales tax for certain transactions, lowering costs for qualifying entities and activities. While states govern sales tax directly, the federal government establishes which organizations qualify for tax-exempt status through the Internal Revenue Service (IRS), creating a prerequisite for many state exemptions. These exemptions serve two primary purposes: preventing […]
Read More
Complete Guide to Sales Tax Exemptions
Enhanced Opportunity Zones: $100 Billion Investment Opportunity
The Opportunity Zones program stands at a pivotal moment in 2025, with proposed legislative enhancements poised to unlock significant new investment potential while addressing critical gaps in the original framework. Since its inception through the 2017 Tax Cuts and Jobs Act, the program has already attracted nearly $100 billion in private capital investment, demonstrating its […]
Read More
Enhanced Opportunity Zones: $100 Billion Investment Opportunity
Understanding Estimated Tax Payment Deadlines for 2025
Estimated tax payments are quarterly payments sent to the IRS for income without automatic withholding, such as earnings from self-employment, investments, rent, or retirement distributions. Quarterly payments help manage your tax bill throughout the year and avoid penalties. You’re required to make these payments if you’ll owe at least $1,000 after withholding and credits, though […]
Read More
Understanding Estimated Tax Payment Deadlines for 2025
Top 5 Reasons to Outsource Your Bookkeeping Services
It is not an easy task to run a business. You will have to deal with many responsibilities and management work. As such, if you happen to miss out on essential details about your finances, your business could fail without proper organization skills. Fortunately for you, you can drive success by making business decisions with the […]