Businesses and other types of organizations now commonly rely on independent contractors to stay flexible, competitive and cost-effective. But in the day-to-day hustle and bustle of working with these providers, it’s easy for reporting and withholding requirements to...

Married couples have a choice when filing their 2025 federal income tax returns. They can file jointly or separately. What you choose will affect your standard deduction, eligibility for certain tax breaks, tax bracket and, ultimately, your tax liability. Which filing...

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...

As construction companies grow, their accounting systems need to evolve right along with them. What worked in the early years may no longer provide the visibility or functionality necessary for your current work. Asking the right questions can help determine whether...

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...

Sponsoring a high-deductible health plan (HDHP) along with Health Savings Accounts (HSAs) has become a widely used employee benefits approach. When the One Big Beautiful Bill Act (OBBBA) was enacted last year, it expanded HSA eligibility for many potential...

Many tax figures are annually adjusted for inflation and typically increase each year (or at least every few years). For 2026, some additional changes are going into effect under the One Big Beautiful Bill Act, signed into law July 4, 2025. Here’s an overview of some...

Acquiring equipment is a major strategic decision for small to midsize construction businesses. It affects everything from bid selection to cash flow management to financial stability. Whether buying or leasing makes more sense depends on various factors. Here are...

Beginning in 2026, individuals who itemize deductions and donate to charity will face a new limit on their charitable deductions. And in some cases, they’ll face two new limits. But there’s some good news for nonitemizing individuals who make charitable donations. New...

For employers that sponsor qualified retirement plans, it’s essential to stay on top of annual IRS inflation adjustments to contribution limits and other amounts. These changes affect everything from plan design to employee communication to payroll processes. For...

You likely have a lot of things to do between now and the end of the year, such as holiday shopping, donating to your favorite charities and planning get-togethers with family and friends. For older taxpayers with one or more tax-advantaged retirement accounts, as...