Tax and accounting

If you own a family business, chances are the company’s name and reputation are well-known in the community. That makes your business more than just a source of income — it reflects your values, history, and future. And that’s exactly why charitable giving isn’t just a nice gesture — it’s a smart business strategy. With…

At the end of last year, the IRS announced its annual inflation adjustments to the optional standard mileage rates used to calculate the deductible vehicle operating costs for business, charitable, medical, or moving purposes. And there’s good news for those who drive for work: the cents-per-mile deduction increased for this year — even though the…

The One Big Beautiful Bill Act (OBBBA), enacted in the summer of 2025, introduced a new temporary federal income tax deduction for auto loan interest. On January 2, 2026, the IRS published proposed regulations in the Federal Register clarifying how the write-off works. The deduction is available whether or not taxpayers itemize their returns and…

Picture two neighbors separated by a fence, both deciding how to seed and fertilize their respective lawns. One goes for a combination that grows like crazy in a typical wet spring and turns a lustrous green — only to quickly brown during the first extended dry spell in the summer heat. The other opts for…

How would you rate your financial literacy? Most small business owners (84%) don’t have a business degree or formal financial training — and just over half (54%) felt confident in their financial knowledge before launching their businesses, according to a 2025 QuickBooks survey. Even owners who think they understand financial matters often hit roadblocks. Roughly…

Every year, the amounts allowed for various federal tax benefits are subject to inflation adjustments and legislative changes. Staying informed is essential for effective tax planning, especially when working with a Tax Planning company in Brookfield that provides proactive, year-round tax accounting solutions Brookfield residents trust.  The following list provides important federal tax information for 2026, as compared with…

Small business owners and independent contractors are always looking for ways to save time. If you run your own business (or want to start one), it might seem tempting to have a combined business and personal bank account, but it’s not a good idea. Keeping finances separate not only simplifies recordkeeping but also makes it…