by groupm7 | Aug 4, 2025 | Blog
The One, Big Beautiful Bill Act (OBBBA) contains a major overhaul to an outdated IRS requirement. Beginning with payments made in 2026, the new law raises the threshold for information reporting on certain business payments from $600 to $2,000. Beginning in 2027, the...
by groupm7 | Aug 4, 2025 | Blog
Are your company’s financial statements keeping up with how people consume information today? We live in a world that scrolls, swipes and scans. With information coming at us nonstop, most people don’t have the time — or patience — for dense financial reports....
by groupm7 | Aug 4, 2025 | Blog
The alternative minimum tax (AMT) is a separate federal income tax system that bears some resemblance to the regular federal income tax system. The difference is that the individual AMT system taxes certain types of income that are tax-free under the regular system....
by groupm7 | Aug 4, 2025 | Blog
The qualified business income (QBI) deduction, which became effective in 2018, is a significant tax benefit for many business owners. It allows eligible taxpayers to deduct up to 20% of QBI, not to exceed 20% of taxable income. It can also be claimed for up to 20% of...
by groupm7 | Aug 4, 2025 | Blog
QuickBooks® can be a powerful tool for managing your company’s accounting records, but like any software, it’s only as accurate as the information entered into it. If you’ve ever generated a QuickBooks report that didn’t look quite right, you’re not alone. Inaccurate...
by groupm7 | Jul 23, 2025 | Blog
The One, Big, Beautiful Bill Act (OBBBA) has introduced significant tax changes that could affect families across the country. While many of the provisions aim to provide financial relief, the new rules can be complex. Below is an overview of the key changes. Adoption...
