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Small Tax Planning Moves Can Add Up BigA smart tax strategy doesn't have to be complicated to pay off. Here are several small and repeatable ideas to consider that can add up into significant money over time.
Make Banks Compete for Your BusinessMaintaining relationships with more than one bank may help you gain access to better products and services while earning extra money. Here are some ideas to make banks compete for your business.
Lifetime Learning Credit & The American Opportunity Tax CreditTwo popular tax credits for education are the American Opportunity Tax Credit and the Lifetime Learning Credit. Here's how to tell if one credit is a better choice for you or your children.
Avoid Paying the Technology Upgrade TaxYou don't need to replace all electronic devices every two years. Here are a few ideas to get more life out of the technology you already own and avoid paying the technology upgrade tax.
Year-End Strategies to Reduce Your Tax BillIdeally, you have worked to minimize your taxes throughout the year. Here are some year-end strategies that may help further reduce your tax bill. Before implementing these or any year-end strategies, talk with your tax professional. SERVICES
RECENT E-NEWSLETTERS
SEPTEMBER 2026 Q & AQ: When is the filing deadline if I requested an extension? A: The deadline is October 15, 2026. Even though you filed for an extension, it's important that you follow these key rules.
Pass-Through Income DeductionUnder the One Big Beautiful Bill Act (OBBBA), owners of certain pass-through businesses can continue to claim a deduction of up to 20% of qualified business income (QBI)—plus 20% of qualified real estate investment trust (REIT) dividends and qualified publicly traded partnership (PTP) income. This tax break was previously set to expire at the end of 2025. The deduction phases out between $403,500 —$553,500 (joint filers), $201,750 —$276,750 (single filers), and $201,775 — $276,775 (married filing separately) — based on taxable income, not including the QBI deduction. Above these thresholds, the deduction depends on whether you’re in a specified service trade or business (SSTB). TALK TO A PRO Consult your tax professional regarding this deduction to determine whether you and your business meet the requirements and to assess your unique situation. Handle Taxes With CareThere is no wiggle room when it comes to handling federal income and FICA taxes withheld from employees' paychecks. These taxes are government property that employers hold "in trust" and remit to the IRS on a set schedule. Employers are not permitted to use this "trust fund" money for any other purpose. SERIOUS PENALTY The penalty for violating the rules is severe. Any person involved in collecting, accounting for, or paying the trust fund taxes — a "responsible person" — who willfully fails to do so may be liable for a penalty equal to 100% of the unpaid taxes. This penalty is strictly enforced. RESPONSIBLE PERSONS Generally, a responsible person is anyone with the authority to ensure that taxes are paid. This may include a corporation's officers, directors, shareholders, employees, and partners in a partnership. Under certain circumstances, even family members and professional advisors may be subject to the penalty. It's not uncommon for there to be more than one responsible person. When that's the case, each responsible person may be liable for the full penalty. A WORD ABOUT WILLFUL Failure to pay trust fund taxes can be willful even without an intentional attempt to evade payment. Temporarily "borrowing" from the trust fund to meet bona fide business expenses in a pinch can qualify as willful.
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