February 3, 2026 / by Brett Hess / Tax
If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one before you file your 2025 tax return. If you choose a Simplified Employee Pension (SEP), you’ll be able make deductible 2025 contributions to it, saving you taxes. Not only is the SEP deadline favorable, but […]
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2 Retirement Plans for Small Businesses with Lean Budgets
May 12, 2026 / by Brett Hess / Small Business
Most business owners would like to offer their employees a 401(k) retirement savings plan with all the bells and whistles. But for small businesses with lean budgets and small staffs, offering such benefits may be out of the question. Fortunately, SEP IRAs and SIMPLE IRAs are less expensive and easier to administer. Might one of […]
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Individual Tax Calendar: Key Deadlines for the Remainder of 2026
April 22, 2026 / by Brett Hess / Deadlines, Tax
Yes, the April 15 tax deadline is now behind us. But there are also deadlines during the rest of the year that are important to be aware of. To help you not miss any, here’s when some key tax-related forms, payments and other actions are due. Keep in mind that this list isn’t all-inclusive. There […]
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Don’t Miss Your Opportunity to Make a 2025 IRA Contribution — Whether You Can Deduct It or Not
March 26, 2026 / by Brett Hess / Deadlines, Tax
Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination of the two). But once the contribution deadline has passed, the opportunity to contribute for that year is lost forever. The deadline for 2025 IRA contributions is April 15, 2026. You may be eligible to […]
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Why You Might Want to Build a Wall Between Your Business and its Real Estate
March 19, 2026 / by Brett Hess / Uncategorized
Does your business own its real estate in a separate holding company, such as a limited liability company (LLC) or limited partnership? This practice can provide several advantages, including shielding property from your company’s creditors. It can also ease estate planning if, for example, you want to transfer business interests to your children while retaining […]
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April 15 is the Deadline for More Than Just Your Income Tax Return
March 10, 2026 / by Brett Hess / Deadlines, Tax
You know your 2025 federal income tax return is due April 15, 2026. But do you know what else has an April 15 deadline? If you don’t, you could miss out on valuable tax-saving opportunities or become subject to interest and even penalties. Making 2025 contributions to an IRA It may be 2026, but you can still […]
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Quadrupled SALT Deduction Limit Means More Taxpayers Will Benefit From Itemizing on Their 2025 Returns
February 26, 2026 / by Brett Hess / Tax
An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under the One Big Beautiful Bill Act (OBBBA) will make it beneficial for more taxpayers to itemize deductions on their 2025 returns. Specifically, if you paid more than $10,000 in state […]
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Before Claiming a Charitable Deduction for 2025, Make Sure You Can Substantiate It
February 19, 2026 / by Brett Hess / Tax
If you itemize deductions on your 2025 individual income tax return, you potentially can deduct donations to qualified charities you made last year. But your gifts must be substantiated in accordance with IRS requirements. Exactly what’s required depends on various factors. In some cases, you must have a written acknowledgment from the charity. Substantiating cash […]
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There’s Still Time to Set up a SEP and Reduce Your 2025 Taxes
February 3, 2026 / by Brett Hess / Tax
If you own a business or are self-employed and haven’t already set up a tax-advantaged retirement plan, consider establishing one before you file your 2025 tax return. If you choose a Simplified Employee Pension (SEP), you’ll be able make deductible 2025 contributions to it, saving you taxes. Not only is the SEP deadline favorable, but […]
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Tax Filing FAQs for Individuals
January 23, 2026 / by Brett Hess / Tax
The IRS is opening the filing season for 2025 individual income tax returns on January 26. This is about the same time as when the agency began accepting and processing 2024 tax year returns last year, despite IRS staffing having been significantly reduced since then. Here are answers to some FAQs about filing. When is […]
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When medical expenses are — and aren’t — tax deductible
January 20, 2026 / by Brett Hess / Tax
If you had significant medical expenses last year, you may be wondering what you can deduct on your 2025 income tax return. Income-based thresholds and other rules can make it hard to claim the medical expense deduction. At the same time, more types of expenses may be eligible than you might expect. Limits on the […]
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