We see the same pattern every January: clients wishing they had more time to implement year-end tax planning strategies. The reality is that once December 31st passes, your opportunities to reduce tax liability for the current year are gone. That’s why fourth-quarter tax planning is crucial for anyone who wants to save thousands of dollars. […]
Year-End Tax Planning: Start Now, Not January Read More »
If you operate a partnership or S corporation, recent IRS guidance could simplify your upcoming tax season. The agency has officially eased the K-2 and K-3 filing requirements for many domestic businesses, offering welcome relief to those with no foreign partners and limited or no international activity. Originally introduced to improve reporting of foreign income,
Fewer Businesses Need to File Schedules K-2 and K-3: Are You One of Them? Read More »
Growing businesses and startups often reach a pivotal point where strategic financial guidance becomes crucial. Hiring a full-time Chief Financial Officer (CFO) may not be feasible, which is why a Fractional CFO could be the perfect solution. But how do you determine if you’re ready to bring one on board? Signs You Might Be Ready for a
Is My Business Ready for a Fractional CFO? Read More »
Generative AI is reshaping the tax planning and compliance process, offering unprecedented opportunities for efficiency, accuracy, and strategic decision-making. As tax professionals navigate the ever-changing regulatory landscape, integrating AI technologies into tax functions is proving to be a game-changer. Here’s how. Key Benefits of Generative AI in Tax Planning Challenges to Consider Future of AI
Generative AI in Tax Planning: What to Expect Read More »
When it comes to charitable contributions, noncash donations can be a great way to save on taxes—if done correctly. However, failing to comply with IRS rules can lead to costly consequences, as demonstrated in a recent Tax Court case (Cade, TC Memo. 2025-20). The Case Overview A couple filed an amended tax return (Form 1040-X)
Claiming Big Charitable Write-Offs: Why Noncash Donations Can Be Tax Traps Read More »
As a business owner, managing your books is crucial for financial success, but it can also be time-consuming and complex. Many entrepreneurs start with DIY bookkeeping or hire a separate bookkeeper, but this often leads to inefficiencies and tax complications. Moving your bookkeeping to your tax professional is one of the smartest financial decisions you
Why You Should Move Your Bookkeeping to Anthem Read More »
Willamette Workforce Partnership is providing a wage reimbursement program to support small businesses in Marion County, Oregon. Eligible employers who hire first-time youth workers between June 14, 2024, and May 30, 2025, can receive $5 per hour in wage reimbursement. Businesses may qualify for reimbursement for up to four youth employees at a time, with a
Wage Reimbursement Opportunity for Small Businesses in Marion County: 2 months left Read More »
The IRS has announced a significant change for businesses: beginning in 2025, Form 944 will no longer be required for payroll tax filings. This decision is part of the agency’s ongoing efforts to simplify tax compliance and modernize processes for employers. Here’s what businesses need to know: Why Is Form 944 Being Eliminated? Form 944, previously used
Payroll Taxes: IRS is Axing Form 944 in 2025 Read More »
When a business faces financial challenges, having the right guidance can make all the difference. A Fractional CFO (Chief Financial Officer) provides expert financial leadership on a part-time basis, offering cost-effective solutions to help struggling businesses identify problems, regain stability, and build a path forward. Here’s how they can help. Key Ways a Fractional CFO
How a Fractional CFO Helps Struggling Businesses Regain Financial Stability Read More »
California wildfires leave devastation in their wake, but with generosity and smart planning, you can aid victims while earning federal income tax savings. Here’s a breakdown of how to maximize your charitable impact while staying IRS-compliant. 1. Donate to IRS-Recognized Charities To qualify for a federal income tax deduction, your donations must go to an IRS-recognized Section
Tax-Smart Giving: Helping California Wildfire Victims While Earning Tax Breaks Read More »
