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The Most Overlooked Red Flags Hiding in Your Balance Sheet
Key Takeaways Consistent financial reviews help reveal risks before they disrupt performance. Tracking trends in cash flow, debt and margins supports long-term stability. Transparent accounting builds trust and stronger financial decision-making. Why Should Business Owners Review Their Balance Sheets Regularly? Reviewing your balance sheet regularly is one of the most effective ways to identify…
Read MoreNo Tax on Overtime & No Tax on Tips
“No Tax on Overtime”: What Changed, Who Benefits, and How to Capture It Starting with tax year 2025 (returns filed in 2026), federal law created a temporary income-tax deduction for qualified overtime compensation through 2028. In plain terms: the overtime premium—the “and-a-half” portion required under the Fair Labor Standards Act (FLSA)—may be deducted against federal…
Read MoreYear-End 2025 Tax Planning: A Practical Guide for Individuals
If you only do deep tax housekeeping once a year, make it now. With new 2025 rules, several “sunsets” that were expected for 2026 were reshaped by the One Big Beautiful Bill Act (OBBBA), and inflation-indexed thresholds, smart moves before December 31 can meaningfully lower what you owe next spring and set you up for…
Read MoreIRS Announces 2026 Retirement Account Inflation Adjustments
For 2026, the employee elective deferral limit for 401(k), 403(b), most governmental 457(b) plans, and the federal Thrift Savings Plan increases to $24,500 (up from $23,500 for 2025). Standard limit (under age 50): Up to $24,500 in salary deferrals. Age 50+ catch-up: Catch-up contributions increase to $8,000 (from $7,500). Total possible employee contribution for age…
Read MoreWhat Does TCJA Mean for Your Year-End Tax Strategy?
Key Takeaways The One Big Beautiful Bill Act (OBBBA) makes most Tax Cuts and Jobs Act (TCJA) provisions permanent, keeping lower brackets, a larger standard deduction, and full business expensing in place. Temporary deductions for overtime pay, tips, and auto loan interest are available through 2028, creating short-term opportunities for additional savings. Business owners should…
Read MoreStrengthening Business Resilience Through Diversified Revenue Streams
Key Takeaways Diversifying income helps businesses stay stable during change and uncertainty. Data-driven insights reveal which revenue opportunities will deliver the most impact and consistency. A flexible, forward-looking mindset builds the foundation for long-term business growth. Building Stability Through Smarter Revenue Design When a business depends on one primary source of income, it’s walking…
Read MoreUnderstanding the New IRS Regulations on SECURE 2.0 Catch-Up Contributions for 2026
Key Takeaways Beginning in 2026, employees aged 50 or older who participate in a 401(k), 403(b), or 457(b) plan and earned more than $145,000 from their employer in the previous year must make their catch-up contributions on a Roth (after-tax) basis. Employers must update plan documents, payroll systems, and employee communications to stay compliant. All…
Read MoreDeveloping a Long-Term Financial Vision in Times of Uncertainty
Key Points You can’t eliminate economic uncertainty, but you can prepare by setting clear goals and building flexible financial plans. Strong cash flow, diversified revenue, and adaptable operations create resilience. Policy changes, like the One Big Beautiful Bill Act (OBBBA) show why regularly revisiting your plan is essential. How Do You Navigate a Shifting…
Read MoreDebt vs. Equity Financing: Which One Fits Your Business Best?
At some point, nearly every business owner faces a common question: How do I fund the next growth stage? Whether you’re eyeing new equipment, a larger space, or need extra cash flow, choosing the right kind of financing is a big decision that shapes your business well beyond the initial investment. Business owners typically consider…
Read MoreAsk F+H: Does My Father Need to File a Gift Tax Return?
Dear Friedman Huey, My father needs more assistance at home as he gets older. To help him remain in his home, we immediately hired Quinn, a caregiver through a home healthcare company. Quinn has been an incredible asset to our father and our family, consistently exceeding our expectations. Although we’ve only known Quinn for a…
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