As Thanksgiving approaches, it’s the perfect time to reflect on what matters most and plan for what lies ahead. This month’s edition explores important tax updates, retirement planning considerations, new education tax credits, and practical strategies for managing business cash. Discover valuable insights to help you make informed financial decisions as the year comes to a close.

The IRS has released its 2026-2027 special per diem rates for business travel, and the changes took effect October 1st. If your company reimburses employees for travel expenses, now is the time to update your rates, review your reimbursement policy, and ensure your expense systems reflect the latest IRS guidance before outdated rates create compliance problems. Read our latest article to learn what changed, what it means for your business, and what your finance team should do right now.

How much cash should your business keep on hand? The answer depends on more than a simple rule of thumb. This article breaks down a practical framework for separating your cash into layers, covering operating needs, committed funds, and contingency reserves, so you can make smarter decisions about liquidity, capital allocation, and when cash truly becomes excess.

Starting in 2027, a new federal tax credit will allow eligible taxpayers to reduce their tax liability dollar for dollar by making cash contributions to qualifying Scholarship Granting Organizations that fund K-12 education. Unlike a charitable deduction, this credit directly offsets what you owe, with individual credits of up to $1,700 per year and up to $3,400 for married couples filing jointly. If you support education-focused giving, now is the time to understand how this new credit interacts with existing state programs and your overall charitable strategy.

The backdoor Roth IRA strategy can trigger an unexpected tax bill if you overlook the pro-rata rule, which requires the IRS to treat all of your traditional IRA balances together when calculating how much of a conversion is taxable. A separate account, a prior 401(k) rollover, or even a year-end IRA balance you didn’t have at the time of conversion can all affect the result. Before contributing or converting, review your full IRA picture to avoid a costly surprise at tax time.

Problems can loom large when payroll administrators ask for year-end information on a tight timeline. Owners and employees may be unavailable, records may be incomplete and the final payroll run may already be scheduled. That’s why November is the right time for a payroll checkup. Gathering information now gives your business time to value taxable benefits, confirm bonus amounts, correct employee records and meet the payroll provider’s cutoff. It also reduces the risk of inaccurate W-2s, amended payroll returns and unpleasant surprises for employees.

For many employers, November is an important 401(k) planning month. A calendar-year plan that uses certain safe harbor features may need to provide eligible employees with an annual notice 30 to 90 days before the new plan year begins. The rules are not identical for every safe harbor plan. Some plans are required to provide an annual safe harbor notice, while others may not. Regardless, now is a practical time for business owners to review the plan, understand the available choices and coordinate any changes with their advisors. We’ve outlined some considerations to help you:

As the year enters its final stretch, now is the time to look ahead and make sure you’re prepared for what comes next. From year-end tax planning and upcoming federal tax changes to evolving rules and reporting responsibilities, a little preparation today can help prevent surprises tomorrow. This month, we’re sharing insights to help you ask the right questions, make informed decisions, and finish 2026 on solid footing.

The SEC may rescind its 2024 climate disclosure rules, but private companies should not assume their reporting obligations disappear. Contracts, state laws, and business relationships may still require climate and emissions information regardless of what the SEC does. Here is how to assess what still applies to your company and what you can safely scale back.

A divorce settlement divides assets and establishes legal rights, but it does not resolve every tax question that follows. Filing status, child-related benefits, property basis, retirement transfers, and prior joint return liability all require a separate tax review. Understanding where the settlement ends and tax law begins can help you avoid costly surprises after the divorce is final.

Form 990 is more than a tax return; it’s a public document that donors, grantmakers, and regulators use to evaluate your nonprofit. Common mistakes in filing, reconciliation, and narrative disclosures can raise questions about financial stewardship or put your tax-exempt status at risk. This article outlines the key errors to avoid and how to build a more reliable year-over-year filing process.

The IRS is replacing its First Time Abate program with a new Automatic Exemption from Penalty (AEP), which will automatically prevent certain penalties for eligible taxpayers with a strong compliance history. Starting with 2025 tax year returns and 2026 quarterly returns, qualifying individuals and businesses may avoid failure-to-file, failure-to-pay, and failure-to-deposit penalties without needing to call the IRS or submit a separate request. Understanding the eligibility requirements and transition timeline is key to making the most of this change.

The IRS has announced inflation adjustments for more than 60 tax provisions for tax year 2026. These amounts generally apply to the federal income tax returns taxpayers will file in 2027. In addition, taxpayers should be aware of changes involving charitable deductions, the qualified business income deduction, energy tax credits, and several other areas. Here are some of the 2026 federal tax changes worth knowing about.

Year-end tax planning isn’t simply about finding deductions. It’s about looking at your overall financial picture, estimating where you are likely to finish the year, and identifying opportunities or potential problems while there’s still time to address them. Here are 10 factors individuals and business owners should consider reviewing before 2026 comes to a close.

September is a season of transition. It’s a time to take stock of what’s working, make thoughtful adjustments, and prepare for what lies ahead. Whether you’re managing a business, planning your finances, or looking for new opportunities, the decisions you make today can have a lasting impact. This month’s insights offer practical guidance to help you build on your progress, navigate change, and make the most of the opportunities ahead.

Your first profitable year in business is worth celebrating. But it can also bring expensive tax surprises, especially if you’re still managing the business like you did when revenue was lower. Here are the most common mistakes new business owners make and what to do instead.

As home values rise, the federal home sale exclusion may no longer be enough to eliminate capital gains tax when a property is sold or inherited. The difference between a large tax bill and a smaller one can come down to how well a homeowner documented capital improvements over the years. Keeping a permanent record of qualifying expenses is one of the simplest steps homeowners can take to protect themselves.

The IRS just made it easier for families to fund Trump accounts without triggering an unexpected gift tax filing requirement. In Revenue Procedure 2026-25, the IRS established a safe harbor that allows qualifying donors to contribute cash to a child’s Trump account and skip Form 709 entirely, as long as key conditions are met. Here’s what you need to know before making contributions.

Most business owners rely on backward-looking financials that tell them where they have been, not where they are going. A cash flow forecast fills that gap by projecting future inflows and outflows, helping leaders spot problems early and make smarter decisions about hiring, investing, and financing. Updated consistently and tied to real business decisions, it shifts leadership from reactive to proactive.

Economists sometimes describe this environment as “labor equilibrium.” In economic terms, a labor market is in equilibrium when the supply of labor and employers’ demand for labor are broadly aligned. According to recent data, employers may now have more flexibility to hire thoughtfully, control labor costs and build stronger teams.

Persistent economic uncertainty, changing interest rates, market volatility, and concerns about long-term returns have pushed many investors to look beyond publicly traded securities for growth opportunities. Increasingly, that search is leading to private markets.

Big financial decisions rarely happen by accident and neither do the best outcomes. In this month’s issue, we look at the proactive strategies that help business owners and nonprofit leaders reduce risk, protect value, and make informed decisions before opportunities or challenges become costly mistakes. Whether you’re growing, selling, or strengthening your organization, these insights can help you move forward with confidence.

Business owners who move money, goods, or services between commonly controlled entities are subject to IRS transfer pricing rules, which require that intercompany transactions be priced as if they were conducted between unrelated parties. When those prices are not set correctly, the IRS has authority under IRC Section 482 to reallocate income and assess back taxes, interest, and penalties that can reach 20% to 40% of the resulting underpayment. With the right documentation and a deliberate approach to pricing, most small and mid-size business owners can manage this exposure without complex or costly studies.

Most business owners carry a rough estimate of what their company is worth, but that mental number is not a valuation, and the gap between the two can be costly. A formal, methodology-based business valuation is required in a wide range of situations, including selling or transferring a business, estate planning, lending, divorce, equity compensation, and shareholder disputes. Working with a credentialed valuator and involving your CPA early ensures the resulting number is defensible when it matters most.