As year end approaches, businesses should review employee and owner benefits for potential payroll tax consequences. This article discusses taxable and tax-free fringe benefits, special rules for S corporation shareholders and steps to avoid reporting errors and penalties.
Higher-income taxpayers could face the 3.8% net investment income tax (NIIT), particularly after a significant investment sale or other year-end transaction. This article explains how the tax works and discusses planning opportunities to reduce NIIT exposure.
The safe harbor for small businesses may allow qualifying building expenditures to be deducted currently rather than capitalized. Businesses considering year-end repairs or improvements should track annual spending carefully because exceeding the applicable limit can eliminate the safe harbor for the building.
Beginning in 2026, taxpayers who claim the standard deduction may be eligible for a new charitable deduction. Learn which donations qualify, how the rules differ for itemizers and why year-end charitable giving may offer valuable tax savings.
This calendar notes important tax deadlines for the fourth quarter of 2026.