Back-to-School, Back-to-Business: Fall Accounting Tips
As summer winds down and routines fall back into place, autumn is the perfect time to take stock of your finances. Whether you’re a business owner preparing for year-end or a family managing back-to-school expenses, a little planning now can make the months ahead smoother. For Businesses Quarterly Review Check your books for accuracy and […]
How QuickBooks Online Can Save You Time and Simplify Your Business
Running a business means juggling a lot—sales, customers, employees, and, of course, the financial side. Bookkeeping and payroll are often the most time-consuming tasks, but thanks to QuickBooks Online (QBO) and its new AI features, those tasks are now easier, faster, and more accurate than ever. Less Time on Paperwork, More Time on Business QBO’s […]
Why Every Growing Business Needs KPI Tracking in 2025
Running a successful business today requires more than just keeping an eye on your bank account or reviewing financial statements at year-end. To truly understand performance and make proactive decisions, business owners need clear and consistent insight into their Key Performance Indicators (KPIs). As we enter 2025, KPI tracking has become an essential tool for […]
What Connecticut’s $420M Tax Surplus Means for Residents & Businesses
Connecticut ended its fiscal year on June 30 with an unexpected $420 million surplus in tax revenue, well above the $190 million post-session surplus lawmakers had anticipated. This positive fiscal surprise is being welcomed by state officials, but the real question is: What does it mean for residents and businesses? How the Surplus Happened The […]
Key Tax Credits for Individuals Slated to End in 2025
The “One Big Beautiful Bill Act” (OBBBA) signed into law on July 4, 2025, accelerates the expiration of several major clean energy tax incentives originally created under the Inflation Reduction Act (IRA). Below is a breakdown on what is changing and when. Residential Clean Energy Credit 30% credit for new solar panels, wind systems, geothermal […]
White House Weighs Removing Capital Gains Tax on Home Sales
The current administration is considering a policy that could significantly benefit homeowners: eliminating the federal capital gains tax on the sale of primary residences. If enacted, this change could unlock major tax savings—especially for long-term homeowners facing large gains due to rising home prices. What’s the Proposal? Under current law, homeowners can exclude up to […]
Timing and Accounting for the “One Big Beautiful Bill”: What Companies Need to Know
With the passage of the “One Big Beautiful Bill,” businesses are now navigating one of the most significant tax law changes in recent years. While many headlines focus on the taxpayer-facing provisions—like increased deductions and credits—companies must also prepare for the accounting implications, especially in how they report the bill’s impacts in both interim and […]
What the New Tax Bill Means for You: 8 Key Opportunities to Know for 2025
A new federal tax bill brings valuable opportunities for both individuals and businesses in 2025. Here’s a breakdown of the top provisions and how you can take advantage of them. 1. Deduct Your Tips — Up to $50,000 If you report tips on your taxes, you may now deduct them — up to $25,000 (single) […]
5 Common Accounting Mistakes (and How to Avoid Them)
As half of the year has passed us, and summer is approaching, now is the time for you as a business owner to look back and reflect on how your business has done thus far. While reviewing your financial health, it’s crucial to ensure your accounting practices are on point. Many small businesses unintentionally make […]
2025 Tax Bracket Changes: What Businesses Need to Know
Every year, the IRS adjusts tax brackets, deductions, and retirement contribution limits based on inflation, and the 2025 changes average around a 2.8% increase usbank.com+2usbank.com+2usbank.com+2. While this may seem routine, it has real implications for individuals and businesses alike. For 2025, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%, […]
