Category: Taxes – Business
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States Decoupling from the OBBBA
By now, most taxpayers and practitioners have heard about the One Big Beautiful Bill Act that was signed into law on July 4, 2025. However, what’s often overlooked is the state tax implications of the OBBBA. States operate separately from the federal government so they don’t have to honor the changes enacted by the federal…
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Understanding the tax implications of a hobbies vs. businesses
The IRS is especially skeptical when a taxpayer shows repetitive losses over multiple years without making any changes to improve profitability – this is one of the strongest indicators of hobby activity. With that said, if you are incurring repeated losses, it would be important to understand the distinction between the IRS treating your activity…
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What You Need to Know About the New Tip & Overtime Deductions for 2025
In late 2025, the IRS issued several important Notices providing guidance on how employees, gig workers, and employers should handle tips and overtime pay for the 2025 tax year. These deductions—created under the One Big, Beautiful Bill Act—will impact millions of U.S. workers. Below is a clear breakdown of what the new deductions are, what…
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Startup, Organizational, and Syndication Costs — Knowing the Tax Difference
When launching a new business or investment fund, not all upfront costs are treated equally for tax purposes. The IRS divides early-stage expenditures into three main categories — start-up, organizational, and syndication costs — and each follows distinct tax rules. Start-Up Costs Start-up costs are incurred before a business begins active operations, such as due…
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Who Qualifies as an Accredited Investor? A Look at How the SEC’s Definition Has Evolved
An accredited investor is someone the SEC considers financially sophisticated enough to invest in private offerings—such as private equity, hedge funds, or venture capital—without the full disclosure protections required for public investments. The concept didn’t exist until 1982, when the SEC introduced it under Regulation D, Rule 501(a) to streamline capital raising while ensuring only…