How to Flip Today’s Loss into Tomorrow’s Tax Win
An NOL (Net Operating Loss) is just a tax term for when your business losses money in a year. While losses are never fun, the
July 15, 2025
An NOL (Net Operating Loss) is just a tax term for when your business losses money in a year. While losses are never fun, the
If you recently purchased, or built, a building, a cost seg may unlock massive tax deductions for you.A cost segregation study (“cost seg” for short)
When fire, flooding, or a break-in wipes out your stuff, the IRS may let you write off some of the loss. The IRS defines a
If you have employees who have been affected by disasters such as hurricanes, tornadoes, floods or wildfires, you may be able to help them financially
Under IRC §127, employers can cover up to $5,250 per employee each year for education expenses — completely tax-free to the employee and fully deductible
Under current tax rules, employers can offer up to $50,000 of group term life insurance to their employees. This is a win because:✅ Tax deductible
Like Section 179, Bonus Depreciation also helps you write off more of the cost of assets then just regular depreciation would. But there are some
Under IRC §179, you can immediately expense (i.e. write-off) up to $1,2MM of qualifying business property—no waiting to depreciate it over numerous years. It’s extremely helpful
Under IRC §195, new business owners can elect to deduct up to $5,000 in startup expenses—before your business even opens its doors. Here’s how it
The Credit for Other Dependents (up to $500 per person) isn’t just for children. You can also claim qualifying relatives who meet all tests:• Relationship
Just about everyone is a fan of the Child Tax Credit, and under the current proposed version of the “One Big Beautiful Bill” that’s with
The Adoption Credit can help offset the high costs of adoption—legal fees, home studies, travel expenses, and more. For 2025, the max credit is $,
Since 2018, most people haven’t been eligible for this deduction, but there’s an important exception: if you’re active duty and moving due to a military
Filing jointly usually means lower tax rates, bigger deductions, and simpler returns for most couples, but sometimes Married Filing Separately wins. Couples in the following
What if I told you that some business owners only pay taxes on 80% of their profits? Thanks to the Qualified Business Income (QBI) deduction,
So in part 1 we talked about the benefits of retirement accounts, and in part 2 we looked at the advantages of PTET. Today let’s
Yesterday in part 1, I mentioned that contributing to a retirement plan is the first tax planning strategy to be taking advantage of. Today I
While there are a lot of best practices & strategies to take advantage of to help reduce taxes, if I had to boil it down
Make sure you’re always up to date! The resources in my blog provide you with all the info you need to make sure you have the best understanding of your taxes.
If you have any questions I’m more than happy to talk through them with you. Get in touch today with questions or concerns.