Avoid Tax Season Stress: How to Help Your Accountant File Accurately and On Time

Tax season doesn’t have to be stressful. With a little preparation, you can make the process smooth and efficient, helping your accountant file your taxes accurately and on time—without needing an extension. Gather Your Documents Early Start by collecting all necessary paperwork, including W-2s, 1099s for freelance or investment income, mortgage interest statements, student loan […]
Don’t Wait Until April: How to Prepare Your Business for Tax Season Now

Tax season doesn’t have to be stressful for your business. With proper preparation, you can help your accountant file your business taxes accurately and on time—without needing an extension. Maintain Your Books Throughout the Year One of the most helpful things you can do for your business is keep accurate records of income and expenses […]
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%, […]
Recover Missed Tax Deductions Without Amending Past Returns: How IRS Form 3115 Can Help

Have you ever discovered something about your business’s taxes that made you wonder, “Why didn’t my previous accountant catch that?” You’re not alone. One of the most common areas where businesses and investors lose money on their taxes is depreciation—especially when assets like buildings or renovations aren’t classified or handled properly. Thankfully, there’s a powerful […]
House Passes Amended Budget Reconciliation Bill: Key Tax Changes for 2025 and Beyond

Accavallo & Company CPAs | May 27, 2025 On Thursday, the U.S. House of Representatives narrowly passed an amended version of the budget reconciliation bill, officially titled the One Big Beautiful Bill Act (H.R. 1). The bill now moves to the Senate for further consideration. The final House vote came in at 215-214, with one […]
It’s Time to Start Thinking About Year-End Tax Planning for Your Small Business

With Labor Day behind us, now is the perfect time to take proactive steps to reduce your small business’s taxes for both this year and next. A common strategy involves deferring income and accelerating deductions to minimize taxes, while bunching deductible expenses into one year or the next can also maximize their tax impact. However, […]