On January, 19th, 2019, the IRS issued the final regulatory guidance in chapter 12 of Publication 535, This update discusses the complex 20 percent qualified business income deduction under Section 199A (also known as a pass-through income deduction.) To recap, this deduction was enacted by the TCJA tax reform law (Pub. L. No. 115-97), and it| THInc
In the wake of the Big Beautiful Bill Act, quarterly estimated tax payments demand a more sophisticated approach than simply completing Form 1040-ES based on prior year figures. Today’s tax environment requires precision planning to avoid overpaying taxes months before they’re actually due. Effective business tax strategy now hinges on optimizing estimated payments and withholding […] The post Quarterly Estimated Tax Payments in 2025 – 2026: Strategic Planning Replaces Guesswork first...| THInc
The IRS has released the annual inflation adjustments for tax year 2026, including updated tax brackets, standard deductions, and cost-of-living adjustments. Important Timing Note: These numbers apply to tax year 2026—the period beginning January 1, 2026. You’ll use these figures to prepare your 2026 tax returns in 2027 and for tax planning throughout 2026. For […] The post IRS Announces 2026 Tax Brackets, Standard Deductions, and Inflation Adjustments first appeared on THInc.| THInc
High earners nearing retirement should take note: catch-up contribution rules are changing. Starting in 2026, workers who earned $145,000 or more in the previous year must make their 401(k) catch-up contributions on an after-tax basis through Roth accounts, forgoing the upfront tax break. Under current rules through 2025, workers 50 and older can choose between| THInc
According to a recent Wall Street Journal report, upcoming tax legislation is projected to enable millions of additional Americans to eliminate their federal income tax liability. Specific groups—including tipped workers, senior citizens, and employees receiving overtime pay—stand to benefit significantly. These taxpayers will gain access to new tax breaks that supplement existing deductions and credits,| tehcpa.net
San Diego CPA & Tax Advisory Firm - Financial Insights that Help you Grow Your Business Huckabee CPA, located in La Jolla, CA provides industry leading accounting, financial reporting, tax, and CFO advisory services to startups and small businesses. Talk To An Expert Trusted By Dozens of San Diego Small Businesses Proven Success With Years| tehcpa.net
Choosing the right fundraising structure as an early-stage founder can be a challenging task. Among the available options, the SAFE agreement is often highlighted for its straightforward and flexible design. Traditional VC funding paths often burden early-stage companies with high costs, complex terms, and immediate dilution. SAFEs (Simple Agreements for Future Equity) emerged as a […] The post SAFE Agreements Explained: Essential Accounting Considerations for Startups getting Seed Stage Fu...| THInc
When President Trump signed the One Big Beautiful Bill Act (OBBBA) into law on July 4, 2025, it marked a significant milestone in tax reform and employee benefits. This comprehensive legislation introduces significant changes that will reshape how organizations approach their benefits strategies. Here’s what employers need to know about the most impactful provisions. Enhanced […] The post The One Big Beautiful Bill Act: Key Changes to Employer-Sponsored Benefits first appeared on THInc.| THInc
A recent Wall Street Journal article highlighted an unexpected beneficiary of Trump's tax legislation: older Americans who make charitable contributions directly from their traditional IRAs. These donations, known as qualified charitable distributions (QCDs), remained unchanged in the tax overhaul, but the surrounding tax landscape has made them increasingly attractive for senior donors. The enhanced appeal| THInc
For any business, it’s critical to have a systematic, organized and easily implemented plan for coordinating and syncing your taxes with your healthcare expenses. Taxes and healthcare arrangements are more connected and dependent on each other than most small business owners and shareholders think. In fact, myriad entrepreneurs are oblivious to the notion that small| THInc
The IRS has released a draft version of the 2026 Form W-2, Wage and Tax Statement, which adds new fields to accommodate the tax exemptions on tips and overtime income from the “One Big Beautiful Bill Act.” On July 4, 2025, President Trump enacted the One Big Beautiful Bill Act, introducing significant changes to tax […] The post IRS Issues Draft 2026 Form W-2 to Address Tips and Overtime Tax Exemption Reporting first appeared on THInc.| THInc
The One Big Beautiful Bill Act (OBBBA), signed into law in July 2025, marks the most sweeping changes to federal tax policy since the 2017 Tax Cuts and Jobs Act (TCJA). A central provision of the OBBBA makes permanent the individual tax cuts originally enacted under the TCJA, preventing a potential tax increase for an| THInc
Proactive fixed asset work can help increase current-year depreciation deductions, free up your time to focus on your business and provide peace of mind through reduced exposure. Recently Dave Mcguire, a partner at Mcquire Sponsel published an article in Accounting Today, about the topic of “is cost segregation still valuable as bonus depreciation is being| THInc
With the recent ridesharing technology companies Lyft and Uber and other tech startups filing for IPO, some early employees and investors are reaping a double whammy payout reward. One that will put millions and for some billions of dollars of cash into their net-worth, as well as capitalizing on a unique tax provision that will| THInc
According to a recent Wall Street Journal article, executives report that faster deductions make it cheaper to add staff at a time when cash flow is critical. Tech startups, in particular, are revisiting their U.S. hiring plans after Congress revived a popular tax deduction. Executives and tax professionals believe this change could also stimulate broader […] The post Startups Shift from Offshore to U.S. Hiring as Trump Tax Reform of R&D expensing Drive Domestic Investment first appeared on...| THInc
A recent Bloomberg analysis of the comprehensive tax legislation enacted by President Trump reveals a fundamental shift in how Americans will be taxed: Tax liability will increasingly depend not on income levels, But on the source of earnings, Geographic location, And personal circumstances This new Republican legislation marks a significant departure from the traditional conservative| THInc
The recently signed "Big Beautiful Bill" Act fully preserves the Pass-Through Entity Tax (PTET) deduction. This deduction, often referred to as the small business deduction (Section 199A), enables eligible taxpayers to deduct up to 20% of their qualified business income (QBI) from their federal income tax liability. Legislative uncertainty surrounding the Pass-Through Entity Tax (PTET)| THInc
President Donald Trump's "One Big Beautiful Bill Act" has officially been signed into law. This sweeping legislation, passed via the fast-track reconciliation process, makes significant changes across various sectors, impacting individuals, families, and businesses. At nearly 900 pages, this legislation is a comprehensive collection of tax breaks, spending cuts, and other Republican priorities, including new| THInc
Bloomberg recently reported that the Senate Republicans are pursuing an ambitious strategy to dramatically reduce the apparent fiscal impact of their comprehensive tax legislation through a controversial shift in budget scoring methodology. This approach centers on changing how Congress measures the cost of making President Trump's 2017 tax cuts permanent. Under the traditional budget reconciliation| tehcpa.net
A key proposal for exempting overtime from taxation could face limitations under the Senate GOP's new bill. This suggests the broad tax break initially envisioned may be scaled back or restricted in its final form. Last month, the House passed the "One Big Beautiful Bill Act," a comprehensive legislative package designed to advance President Trump’s| tehcpa.net
Health Savings Accounts (HSAs) stand out as one of the best tax-advantaged retirement accounts available, yet research indicates only 9.6% of Americans own one. For individuals already maximizing their 401(k) contributions, an HSA offers an excellent additional avenue for retirement savings. According to Fidelity's 2024 estimate, a 65-year-old individual may need an average of $165,000| THInc
Early Thursday, the House narrowly approved a comprehensive “One Big Beautiful Bill " to advance President Trump's domestic agenda. This legislation would significantly cut taxes, allocate more funds to the military and border security, and offset some costs by reducing spending on Medicaid, food assistance, education, and clean energy programs. Critics project it would substantially| THInc
