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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

Many married couples form an LLC to own rental property to obtain liability protection. After they create the LLC, they often ask an important tax question: Does the LLC force them to file a partnership return?

The answer depends largely on where they live and how they own the property.

Federal tax rules treat any unincorporated business with two owners as a partnership by default. When a husband and wife form a two-member LLC, the IRS normally requires a partnership return on Form 1065. Some exceptions exist, but most couples do not qualify for them.

Tax law allows “mere co-ownership” of real estate without creating a partnership. This rule applies only when individuals own property directly as tenants in common and simply maintain and rent it. Once spouses place the property inside a multi-member LLC, they move beyond co-ownership and create a separate tax entity. At that point, the partnership…