Business Tax
Are you prepared for the financial and operational scrutiny of a business sale?
In every transaction, there comes a moment when optimism meets scrutiny. The buyer has signaled interest, perhaps even hinted at terms, but now the conversation shifts to proof. They will want to see the numbers behind the story, the contracts that bind relationships, and the systems that keep the business running. They may also review […]
Positive Changes for R&E Tax Deductions Under OBBB
For decades, companies have navigated the complexities involved in deducting research and experimental expenditures. The One Big Beautiful Bill (OBBB) Act with the newly released Revenue Procedure 2025-28 changes that landscape. Starting with tax years after December 31, 2024, domestic research and development expenses may be deducted immediately, replacing the prior five-year capitalization and amortization […]
Employers Prepare for New Overtime Deduction Reporting Rules Under OBBB
The One Big Beautiful Bill (OBBB) Act, passed earlier this year, introduces a temporary tax break for individuals who receive overtime pay. For tax years 2025 through 2028, eligible workers may deduct a portion of overtime wages from taxable income. The change allows employees who work overtime to reduce taxable income, offering some financial relief […]
What OBBB Means for Charitable Contributions
New Rules for Charitable Deductions Starting in 2026 For years, charitable giving rules have shifted with each round of tax legislation, leaving individuals and corporations uncertain about what’s next. The One Big Beautiful Bill (OBBB) Act is the latest in this evolution, introducing new opportunities and limitations that will take effect in 2026. Some provisions […]
Qualified Small Business Stock Changes: Higher Caps, Shorter Holding
Tucked within the One Big Beautiful Bill (OBBB) Act is a meaningful update to the tax code: revisions to the Qualified Small Business Stock (QSBS) gain exclusion under Section 1202. Long used as a tool to encourage innovation and investment in early-stage businesses, the QSBS rules have now been clarified and expanded. The changes are […]
Maximizing Meal Expense Deductions: IRS Rules and Exceptions Every Organization Should Know
Meal Expenses: An Overlooked Tax Opportunity Meal expenses are often an overlooked area in tax planning, with significant potential to affect an organization’s bottom line. While the IRS generally allows only a 50 percent deduction under IRC §274, certain circumstances may permit full deductibility. Understanding these exceptions enables businesses, including tax-exempt organizations that may incur […]
Business Tax Strategies 2025: Watch our Webinar OnDemand
2025 Business Tax Planning Webinar Position your business for year-end success with insights from AAFCPAs’ 2025 Business Tax Strategies webinar. Learn strategies to optimize your tax position, stay ahead of regulatory changes, and ensure your financial records are accurate and compliant. In this session, you will learn: Webinar OnDemand
OBBB Creates New Deduction for Qualified Tips Through 2028
The One Big Beautiful Bill (OBBB) Act introduces a new federal tax provision that may affect businesses with tipped employees. Beginning in 2025, up to $25,000 in qualified tips per year may be excluded from federal taxable income through 2028. The deduction applies to occupations where tipping has long been customary and regular, including roles […]
Year-End Tax Webinars: Optimize Your 2025-2026 Tax Strategy
AAFCPAs’ highly anticipated annual tax webinars are available OnDemand! As always, we’re committed to bringing you the latest tax considerations and guidance including implications of the One Big Beautiful Bill Act, signed into law earlier this year, keeping you ahead of what matters most for your business and personal financial operations. We held three dynamic […]