by Lori Bowden | Apr 4, 2026 | Business, Individuals, Newsletter
Notices from the IRS are more common than you may realize. Each year, the IRS mails millions of letters to clarify information, confirm changes or request additional documentation. Receiving a notice may seem intimidating, but most notices can be addressed quickly...
by Lori Bowden | Apr 3, 2026 | Business, Newsletter, Tax
Turning a favorite pastime into income can be rewarding, but it raises an important tax question: Is the activity a hobby or a business? The answer matters because different tax rules apply to each. All income must be reported on your tax return, regardless of whether...
by Lori Bowden | Apr 2, 2026 | Business, Newsletter
A recent survey found that 45% of small businesses reported growth, but 78% wanted to grow. This January 2026 data from Intuit QuickBooks Small Business Insights suggests that many small businesses are struggling to achieve their expansion goals. Small businesses...
by Lori Bowden | Mar 3, 2026 | Business, Newsletter, Tax
If your business conducts research or product development, a significant tax law change could unlock tax savings. The 2025 tax legislation, commonly known as the One Big Beautiful Bill Act (OBBBA), reinstated the ability to immediately deduct domestic research and...
by Lori Bowden | Feb 4, 2026 | Business, Newsletter
Many rental property owners are surprised to learn that federal tax law often restricts their ability to deduct losses, treating most rental activities as passive unless specific requirements are met. But if you can qualify for the real estate professional exception,...
by Lori Bowden | Feb 1, 2026 | Business, Newsletter
Closing a business can be overwhelming. But it’s important not to let tax duties fall through the cracks. File a federal income tax return for your business’s final year and, if you have employees, make final federal tax deposits and report employment taxes. If you...
