Brett Hess - Business Management Company

Be Tax-Smart With Your Mutual Fund Investments

August 28, 2026 / by Brett Hess / Tax

Mutual funds offer an easy way to invest in a diversified portfolio compared to buying individual stocks and bonds. But the tax treatment of mutual funds isn’t so simple. How are mutual funds taxed? If you sell appreciated mutual fund shares, the resulting profit will be taxable. If you’ve held the shares for one year […]

Before You Spend Lottery, Gambling or Other Winnings, Understand the Tax Rules

August 27, 2026 / by Brett Hess / Uncategorized

It’s easy to focus on the excitement of a big win. But federal tax law generally treats lottery prizes, gambling winnings and other awards as taxable income. Knowing the basic rules can help you avoid surprises when you file your 2026 return next year. Lottery prizes Of course, the chances of winning big in the […]

Potential FBAR Filing Requirement – Deadline October 15

August 26, 2026 / by Brett Hess / Deadlines

Dear Client, We wanted to send a friendly reminder that you may have an FBAR filing requirement if you, your business, or a related entity held foreign financial accounts during the year. An FBAR (Foreign Bank Account Report, FinCEN Form 114) may be required if the combined value of all foreign financial accounts exceeded $10,000 […]

Understanding IRS Hobby Loss Rules

July 24, 2026 / by Brett Hess / Tax

Dear Client, We want to highlight an important IRS rule that may affect taxpayers who report business losses on Schedule C. If your business shows a loss in a given year, the IRS applies what is commonly referred to as the “hobby loss” rule to determine whether the activity qualifies as a legitimate business. What […]

The Right Financial Guidance Can Help Maximize Your Business’s Potential

July 23, 2026 / by Brett Hess / Uncategorized

Financial information is the foundation for every important business decision. Whether your goal is to improve cash flow, launch a new offering, hire additional workers or expand into a new market, accurate data enables you to make decisions confidently. An experienced advisor can help prepare this data and ensure your business is poised to capitalize […]

When the Sale of an Appreciated Home Triggers Taxes — and When It Doesn’t

June 25, 2026 / by Brett Hess / Tax

Home values have risen significantly in many areas of the country over the last several years, leaving some homeowners with substantial gains when they sell. Of course a large profit is generally a good thing. But, depending on the amount of your gain, how long you’ve owned and resided in the home, and your income […]

Demystifying Like-Kind Exchanges

June 17, 2026 / by Brett Hess / Uncategorized

If you’re a real estate developer or a small business owner who owns commercial real estate, you might be thinking about selling a property. If it has appreciated significantly, a Section 1031 like-kind exchange may allow you to defer tax on some or all of the gain. With this transaction, you exchange one property for […]

Important Tax Notice: You May Be Entitled to a Refund of COVID-Era Penalties & Interest

June 12, 2026 / by Brett Hess / Deadlines, Tax

Dear Client, We want to make you aware of an important recent court ruling that may benefit you. In Kwong v. United States, the U.S. Court of Federal Claims ruled that certain tax penalties and interest charged between January 20, 2020, and July 10, 2023, were improperly assessed under federal law. This covers tax filings […]

The “Kiddie Tax” Can Apply Long After Childhood

June 10, 2026 / by Brett Hess / Tax

Many parents don’t know that the so-called “kiddie tax” exists. Others assume it affects only minor children. But it also can apply to full-time students through age 23 and 18-year-olds even if they aren’t full-time students. When it applies, most of the child’s unearned income may be taxed at the parent’s higher tax rate. The […]

1 2 3 … 30