The IRS has released Notice 2025-69, giving much-needed clarity on two major new deductions created under the One, Big, Beautiful Bill Act (OBBBA). If you earn tips, work overtime, or employ workers who do, these rules may impact your 2025 tax return. These deductions apply for tax years 2025 through 2028  — and for 2025, the IRS is allowing simplified methods due to delayed reporting updates. 1. Deduction for Qualified Tips (Up to $25,000) Workers in occupations that customarily received...

The One Big Beautiful Bill Act (OBBBA) reshapes charitable giving rules beginning in 2026, making 2025 a crucial planning year for maximizing tax benefits. Key changes include a new universal deduction for non-itemizers, a 0.5% AGI floor for itemizers, and a 35% cap on the tax benefit of itemized deductions for those in the top tax bracket. Taxpayers may benefit from accelerating contributions into 2025 or using strategies such as donor-advised funds, bunching, or qualified charitable...

The U.S. has officially entered a federal government shutdown as Congress failed to reach a funding agreement for the new fiscal year beginning October 1, 2025. While shutdowns can feel far removed from everyday life, they directly affect taxpayers and small business owners who rely on timely IRS operations. Here’s what you need to know about how this 2025 shutdown is impacting taxes: What Happens During a Shutdown? A government shutdown occurs when Congress fails to pass—or the President...

The March 15 tax deadline (moved to March 17 for 2025 since the 15th falls on a Saturday) is critical for businesses. Here’s what’s...

As the year comes to a close, many business owners rush to prepare their books for tax season. However, year-end cleanup isn’t just about...

Tax season can be stressful, especially if your financial records aren’t in order. To make the process smooth and hassle-free, follow...

Most smart business owners realize they know more about their customers and clients and less about their accounting. They have learned...

As a small business owner, it’s crucial to have an effective bookkeeping system in place. Keeping accurate records of your transactions...

5 Accounting Tips for Mom and Pop Businesses to Take Control of their Finances   Managing the finances of any business can be challenging...

The taxation process can be daunting for even the most experienced business owner. Tax season can be incredibly daunting if you’re a...

Looking at operating a business or company under an assumed name? If you want a DBA- ‘doing business as’- name in North Carolina, you...

The cost-of-living adjustment for Social Security will increase by 8.7% in 2023, the most in 40 years. Social Security recipients will...

Approximately 158 million people are employed in the US, and approximately 10% ( 16 million ) are employed by US staffing companies. The...

CASH (FLOW) IS KING Cash flow is a priority for every business owner. Without enough cash flowing through the company, owners will...

Just a quick reminder that the March 15 tax deadline is quickly approaching.  The deadline applies to flow through entities to file their...

Are you a Restaurant Owner or know someone who is? Here is one program you may not know about: https://www.sba.gov/funding-programs/loans...

We help setup your LLC. Guiding our clients to the next level is what we do best. We setup your accounting systems so you can monitor how...

Deadlines Approaching! Corporate and Partnership Tax Deadlines…how does your Business look? We help get your books in order for the Tax...

Check out the Latest PPP Updates Bloomberg Reports New Biden Small Business Help Do you have 2019-2021 Financial Reports? We help get...

Is Your Accounting Leaving you Restless at night? Do you lay there at night with worries your accounting system is subpar? We put systems...