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March Mastery: Essential Checklist for Small Business OwnersAs the last snowflakes melt and cherry blossoms tease the horizon, March arrives like a double-edged sword for small business owners.
Give Yourself Peace With a Tax ProfessionalNavigating the ever-changing tax landscape can be overwhelming, especially with complex rules and potential penalties.
Your Tax Planning Cycle Starts NowFiling your 2025 tax return may feel like crossing a finish line. In reality, this moment is the starting point for smart tax planning during 2026. Here are several ideas you can use.
Understanding Tax Credits vs. DeductionsTax credits are some of the most valuable tools around to help cut your tax bill. But figuring out how to use these credits can get complicated very quickly. Here's what you need to know.
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MARCH 2026 Q & AQ: What are "Qualified Tips"? A: Qualified tips are voluntary payments, either cash or noncash, such as credit card tips, received directly from customers or through tip-sharing arrangements in professions that traditionally received tips before 2025, like servers, bartenders, and delivery drivers. Mandatory service charges or automatic gratuities generally do not qualify.
Spring Clean UpMany of us think of Spring as a time to refresh our homes, such as decluttering rooms, sorting closets, or deep cleaning neglected areas, but it's also a great time to get your documents and files in order. GET ORGANIZED AND ENERGIZED Create an efficient system for managing your documents and filing. Collect tax-related papers (W-2s, 1099s, receipts) and store them securely for quick access during tax season. Shred outdated documents to cut clutter and protect sensitive information. Use labeled folders or digital scans for bills, warranties, and insurance policies. Dedicate an hour each week to keep everything organized. A tidy home and organized paperwork reduce stress, prepare you for a productive year, and energize you to enjoy life and focus on what matters most to you and your family. Roth or Traditional: Considerations for High EarnersThe higher your income, the more complicated the options. Generally, deductible IRA and Roth IRA contributions aren't permitted if you have a 401(k)/403b/457 retirement savings plan at work. In 2025, individuals with a modified adjusted gross income (MAGI) of $89,000 or more ($91,000 in 2026), and married couples filing jointly with a MAGI of $146,000 or more ($149,000 in 2026), cannot make deductible contributions to a traditional IRA. Roth IRA contributions ignore workplace retirement plans, but singles and those married filing jointly become ineligible with MAGI of $165,000 and $246,000 or more ($168,000 and $252,000 in 2026), respectively. However, if your employer's plan allows you to choose between a traditional or Roth employee retirement savings plan, these contributions aren't subject to any income limitations. So, how do you decide? Here are some factors to consider with your trusted professional.
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