Brett Hess - Business Management Company

Boost your tax savings by donating appreciated stock instead of cash

October 20, 2025 / by Brett Hess / Tax

Saving taxes probably isn’t your primary reason for supporting your favorite charities. But tax deductions can be a valuable added benefit. If you donate long-term appreciated stock, you potentially can save even more. Not just a deduction Appreciated publicly traded stock you’ve held more than one year is long-term capital gains property. If you donate […]

Is Your Company’s Pricing Still Working?

October 17, 2025 / by Brett Hess / Small Business

Pricing is one of the most powerful tools a business owner has to make sure their company is profitable. If you set prices too low, you’re missing out on money you could be making. Set them too high, and customers might go to a cheaper competitor. Your goal is to find the “sweet spot”: prices […]

5 potential tax breaks to know before moving a parent into a nursing home

October 9, 2025 / by Brett Hess / Uncategorized

Approximately 1.3 million Americans live in nursing homes, according to the National Center for Health Statistics. If you have a parent moving into one, taxes are probably not on your mind. But there may be tax implications. Here are five possible tax breaks. Long-term medical care The costs of qualified long-term care, including nursing home […]

Tax Court case provides lessons on best recordkeeping practices for businesses

September 23, 2025 / by Brett Hess / Small Business

Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance and tax savings. Good records can mean the difference between successfully defending a deduction and losing valuable tax breaks. A recent U.S. Tax Court decision underscores just how important this […]

The power of catch-up retirement account contributions after 50

September 18, 2025 / by Brett Hess / Tax

Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s). And these contributions are more valuable than you may think. IRA contribution amounts For 2025, eligible taxpayers can make contributions to a traditional or Roth IRA of up to the lesser […]

Payroll tax implications of new tax breaks on tips and overtime

September 15, 2025 / by Brett Hess / Tax

Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes that. Tip income deduction For 2025–2028, the OBBBA creates a new temporary federal income tax deduction that can offset up to $25,000 of annual qualified tip income. It begins to […]

How businesses can fund a buy-sell agreement

September 9, 2025 / by Brett Hess / Small Business

Businesses with more than one owner benefit from having multiple viewpoints and varying skill sets. However, they also face serious risks of uncertainty and conflict if one of the owners suddenly departs or undergoes a major life change. A carefully crafted buy-sell agreement can guard against these risks — if it’s securely funded. Transfer guidelines […]

No tax on car loan interest under the new law? Not exactly

September 9, 2025 / by Brett Hess / Tax

Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence interest or home mortgage interest, which can be deducted, subject to some limitations, if you itemize deductions on your tax return. The One Big Beautiful Bill Act (OBBBA) adds another exception for eligible car loan […]

Act soon: The OBBBA ends clean energy tax breaks

August 19, 2025 / by Brett Hess / Tax

The newly enacted One, Big, Beautiful Bill Act (OBBBA) represents a major move by President Trump and congressional Republicans to roll back a number of clean energy tax incentives originally introduced or expanded under the Inflation Reduction Act (IRA). Below is a summary of the key individual tax credits that will soon be scaled back […]

Unlocking Growth: Your Crystal Ball for Business Decisions

August 6, 2025 / by Brett Hess / Small Business

Ever stare at your P&L, wondering if now’s the time to expand your team or invest in that game-changing equipment? You’re not alone. Many business owners grapple with these big decisions, often feeling like they’re flying blind. I recently worked with a client facing this exact dilemma. They wanted to grow but weren’t sure if […]

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