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Tax planning for yourself and your household can ensure a smooth transition from 2025 to 2026. Now is the time to review your taxes and identify opportunities for reducing, deferring or accelerating your tax obligations. Here are some tips to get you started, with additional changes from the One Big Beautiful Bill Act (OBBBA).  …

This Guide outlines strategies that may help lower your tax bill. However, careful planning involves more than focusing solely on reducing taxes for the current and future years. Each potential tax saving opportunity must be considered in the context of its impact on your entire business. In addition, tax planning for closely held business entities…

As the year draws to a close, all businesses must meet the following reporting obligations: Form 1099-MISC and 1099-NEC S-Corporation Health Insurance Personal Use of Employer-Provided Vehicle Personal Property Tax and Business License Returns   Form 1099-MISC and 1099-NEC There are several important items to consider for FORMS 1099-MISC/NEC, whether you prepare them yourself or…

This Guide outlines strategies that may help lower your tax bill.  However, careful planning involves more than just focusing on lowering taxes for the current and future years. Each potential tax savings opportunity must be considered in the context of its effect on your entire business. In addition, tax planning for closely-held business entities requires…

Tax planning for yourself and your household can ensure a smooth transition from 2024 to 2025. Now is the time to review your taxes and identify opportunities for reducing, deferring or accelerating your tax obligations. Here are some tips to get you started.   Corporate Transparency Act – 12/31/24 Deadline As previously communicated, we want…

As the year draws to a close, all businesses must meet the following reporting obligations: Corporate Transparency Act (CTA) Form 1099-MISC and 1099-NEC S-Corporation Health Insurance Personal Use of Employer-Provided Vehicle Personal Property Tax and Business License Returns   Corporate Transparency Act – 12/31/24 Deadline As previously communicated, we want to keep you informed on…

As the year draws to a close, all businesses must meet the following reporting obligations: Form 1099-MISC and 1099-NEC S-Corporation Health Insurance Personal Use of Employer-Provided Vehicle Personal Property Tax and Business License Returns   Form 1099-MISC and 1099-NEC There are several important items and key changes to consider for FORMS 1099-MISC/NEC, whether you prepare them…

This Guide outlines strategies that may help lower your tax bill.  However, careful planning involves more than just focusing on lowering taxes for the current and future years. Each potential tax savings opportunity must be considered in the context of its effect on your entire business. In addition, tax planning for closely-held business entities requires…

Tax planning for yourself and your household can ensure a smooth transition from 2023 to 2024. Now is the time to review your taxes and identify opportunities for reducing, deferring or accelerating your tax obligations. Here are some tips to get you started.   As a reminder, WellsColeman will no longer send certified payments on…