Beginning in 2026, many business meal deductions will become more limited. Office snacks, coffee, employer-provided meals (such as tax season meals), and meals provided during employee seminars are generally no longer deductible.

However, client meals directly related to a business discussion and employee meals while traveling overnight for business remain 50% deductible.

As always, it is important to include the following information on your receipt or other support:

~ Dollar amount (typically already included)

~ Time and place (typically already included)

~ Business purpose

You may have a once-in-a-generation opportunity to claim refunds or obtain abatement of IRS penalties and interest that were assessed or paid during the COVID-19 pandemic. However, you must act quickly to preserve your potential claim.

Here is the background: In Kwong v. United States, the U.S. Court of Federal Claims ruled that a COVID-era disaster relief statute automatically postponed many federal tax deadlines from January 20, 2020, through July 11, 2023. Until now, the IRS had largely ignored this provision.

As a result, you may qualify for refunds or abatement of failure-to-file penalties, failure-to-pay penalties, estimated tax penalties, and underpayment interest that accrued during this 3.5-year disaster period. These amounts can be substantial.

At this stage, however, you should not assume the IRS will automatically issue refunds. The IRS will likely challenge the broad application of the Kwong decision, and appellate courts could narrow or overturn the ruling. In…

The One Big Beautiful Bill Act (OBBBA) introduces a substantial expansion of the tax credits available to businesses that provide childcare support to their employees. Beginning in 2026, the maximum credit for small businesses will increase from $150,000 to $600,000. This change reflects a growing recognition of childcare as a critical component of workforce stability and business growth.

Under these new guidelines, a business does not necessarily need to own an on-site facility to qualify for the credit. Expenses related to contracting with licensed off-site providers, utilizing childcare referral services, or participating in third-party childcare platforms are generally eligible. Furthermore, the OBBBA allows smaller employers to pool their resources, making it easier to provide high-quality childcare options without a prohibitive administrative or financial burden.

As we look toward 2026, it is important for business owners to evaluate their current benefit structures. While these credits can offer significant net tax savings,…

For years, mailing a return by the deadline was enough, but recent USPS processing changes have created a new risk for taxpayers. Because mail is often routed to distant regional centers, a return dropped off on the deadline may not receive a postmark until the following day, which the IRS considers late. We recommend using certified mail or electronic filing to ensure you have legal proof of your filing date. 📌

#TaxPlanning #SmallBusinessTips #BusinessOwners #CFOInsights #FinancialClarity #TaxCompliance #CPAFirm #IRSGuidelines

Your tax refund will no longer arrive by paper check. The IRS recently announced that it will stop issuing refund checks, with limited exceptions, and will require taxpayers to receive refunds electronically.

Why the Change?

Paper checks cost more, create security risks, and take much longer to process. In addition, the Trump administration directed all federal agencies to eliminate paper check payments.

What Stays the Same?

The IRS has not changed the process for filing your tax return. You will continue to file exactly as you do now.

After four years of work, the IRS has finalized its cryptocurrency regulations, and crypto tax reporting now begins. Starting with the 2025 tax year, custodial crypto platforms must report taxable crypto transactions directly to the IRS.

“Digital asset brokers” must handle this reporting when they take custody of the digital assets their customers sell or exchange. These brokers include

• operators of centralized trading platforms such as Coinbase, Kraken, and Binance; and

• hosted wallet providers (also called “custodial wallets”).

Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2026.

How much can you save in an IRA?

The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2026 will be $7,500 (or 100% of your earned income, if less), up from $7,000 in 2025. The maximum catch-up contribution for those age 50 or older is $1,100, increased from $1,000 in 2025. You can contribute to both a traditional IRA and a Roth IRA in 2026, but your total contributions cannot exceed these annual limits.

Can you deduct your traditional IRA contributions?

If you (or both you and your spouse, if you're married) are not covered by a work-based retirement plan, your contributions to a traditional IRA are generally fully tax-deductible.

Starting in 2026, the rules around employer-provided meals are getting a major shake-up under OBBBA — and that “50% deductible lunch” might soon cost you 100%!

Here’s what’s changing ⬇️

🚫 No more deductions for:

• Meals provided for the convenience of the employer (Sec. 119(a))

• Employer-operated cafeterias or snack areas (Sec. 132(e)(2))

Before this? Those were typically 50% deductible, sometimes even fully deductible.

March 2025 Executive Order:

Phase out paper checks to and from the federal government, including IRS.

• Paper checks from Treasury to cease by Sept. 30, 2025

• Payments sent to Treasury (including tax payments) should be processed electronically as soon as practicable

  No guidance has been issued and date has not been set but could be as soon as Sept. 30, 2025

If you plan to make energy-efficient improvements or purchase clean energy vehicles, please note the cutoffs below.

Hello there, brilliant taxpayer!

Thank you for your message. If you're reaching out about the freshly passed One Big Beautiful Bill (yes, that’s really what it’s called), you’re not alone — and you’re absolutely right to have questions.

Here’s the scoop: this bill is big, it’s beautiful (allegedly), and it’s packed with enough tax code changes to make even a calculator sweat. Like many in the tax world, I’m currently diving headfirst into hundreds of pages of legislative spaghetti to make sure I can give you accurate, up-to-date, and personalized advice.

So, I kindly ask for your patience and grace as I:

✔️ Decode the fine print,

✔️ Attend a few caffeine-fueled webinars,