The One Big Beautiful Bill Act (OBBBA) has permanently restored 100% first-year bonus depreciation, offering business owners a powerful way to maximize their tax savings for 2025 and beyond. Under prior law, this tax break was phasing out and scheduled to vanish in 2027. This article provides details. And a sidebar gives a brief look at one retirement plan option business owners can use to save taxes for the business, for themselves and their employees.

Tax planning at the end of the year can be done as late as November or even December. This article looks at five tips that can help taxpayers improve their outcome when tax filing time rolls around.

The tax rules for deducting the cost of employer-provided holiday parties for staff and guests changed under the Tax and Cuts Jobs Act, but deductions are still available. This article lists what types of expenses – and which guests -- are eligible for deduction and describes other limitations.

When donating cash and property to charity, the donor may secure a tax deduction if the charity is qualified with the IRS to receive tax-deductible donations and if the donor secures proper documentation from the charity. Here’s what donors need to know.