Business Tax Articles

Under the "Delivering for America" plan, the USPS has clarified that postmarks added to mail do not reflect a mailing date, they reflect a processing date. This has implications for the way time-sensitive mail, including tax return and tax payments, is received by federal agencies.

Starting in 2026, the One Big Beautiful Bill Act (OBBBA) introduces major changes to employer reporting requirements, including new W-2 codes for qualified tips and overtime income and contributions to Trump accounts. The law also raises the 1099 reporting threshold from $600 to $2,000, easing compliance for businesses. Employers should prepare now for updated forms and processes to ensure accurate reporting and employee eligibility for deductions.

The One Big Beautiful Bill Act (OBBBA) significantly expands business interest expense deductions starting in 2025. It allows a more generous calculation of adjusted taxable income (ATI) by excluding depreciation, amortization, and depletion, and broadens floor plan financing to include trailers and campers. These changes mean larger deductions for many businesses, though complex rules and exceptions still apply.

As public companies prepare for year-end, a proactive and integrated tax strategy is essential for optimizing cash flow, reducing risk, and ensuring transparent financial communication with stakeholders. This guide highlights key areas that corporate tax and finance leaders should evaluate before the close of the fiscal year.

Taxes play a critical role in the success of mergers and acquisitions, influencing both deal structure and financial outcomes. Whether a transaction is structured as an asset sale or a stock sale can significantly impact tax liabilities for buyers and sellers. Understanding these implications early helps avoid surprises and ensures a more strategic, tax-efficient deal.

The One Big Beautiful Bill Act introduces a 100% first-year depreciation deduction for nonresidential real estate classified as Qualified Production Property (QPP), offering significant tax savings for manufacturers. To qualify, properties must meet strict usage and timing requirements, and businesses should be aware of limitations such as nonqualified areas, leased buildings, and potential recapture rules. Careful planning and IRS guidance will be essential to maximize this benefit.

As 2025 draws to a close, employers should review whether they have properly included the value of common fringe benefits in their employees’ and (if applicable) 2% S corporation shareholders’ taxable wages.

Business gift deductions are generally capped at $25 per recipient per year, but exceptions exist for gifts to companies, couples, and incidental costs like packaging or shipping. Employee gifts follow different rules: cash or gift cards count as taxable wages, while small noncash items may qualify as tax-free fringe benefits. Accurate documentation of gift details and business purpose is essential to maximize deductions and remain compliant.

As 2025 winds down, now is the time to review your business expenses and lock in potential tax savings. This article breaks down what’s still deductible under the latest tax laws, including updates from the One Big Beautiful Bill (OBBB) and the TCJA, and offers practical tips to help you plan ahead for 2026.

QIP offers businesses a way to accelerate deductions on nonresidential building improvements through bonus depreciation and Section 179 expensing. Recent legislation under the OBBB permanently reinstates 100% bonus depreciation for qualifying assets placed in service after January 19, 2025, while also increasing Section 179 limits. Strategic planning is essential to balance immediate tax benefits against potential future implications like depreciation recapture and excess business loss rules.