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Small business owners: Your vehicle could be a bigger tax write-off than you think
March 10th, 2026 | Tax Insights
If you used a vehicle for your business during 2025, you may be able to claim valuable tax deductions on your 2025 tax return. Many small business owners use their personal vehicle for work. Whether that’s driving to client meetings, picking up supplies, or traveling between job sites. The IRS allows businesses to deduct certain […]
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Filing as a Partnership or S Corp? Read this before March 16
If you operate your business as a partnership, an LLC taxed as a partnership, or an S corporation, your business is considered a “pass-through” entity for federal tax purposes. In simple terms, that means: The business itself generally does not pay federal income tax. Instead, profits, losses, deductions, and credits pass through to the owners. […]
Read More >>Bigger interest deductions may be available for your business
If your business has loans — whether for equipment, vehicles, real estate, or operating expenses — you’re probably deducting the interest you pay. That’s a good thing. Business interest is generally tax-deductible. However, there are limits on how much you can deduct each year. A new law (the OBBBA) changes how limits work for taxable […]
Read More >>Don’t lose your S corp status: A small business owner’s guide
If your business is set up as an S corporation, you’re already enjoying some great tax advantages. But here’s something many business owners don’t realize: it’s surprisingly easy to accidentally lose your S corp status — and with it, thousands of dollars in tax benefits. The good news? With the right guidance from your Padgett […]
Read More >>Featured Articles
Understanding IRAs: your retirement savings guide
With the recent passing of the SECURE 2.0 Act of 2022, you may have questions about the different types of Individual Retirement Accounts (IRAs) available. How do you choose what retirement plan is right for you? IRAs are a powerful tool for retirement savings. They are savings plans that come with tax advantages to help […]
Breaking Down the SECURE Act 2.0
Roger and Annie discuss the changes in the SECURE 2.0 Act of 2022 and how this impacts small business owners with regards to offering retirement plans to their employees. They also talk about recent changes in IRS regulations that could prove …
Latest Tax, Accounting & Financial Tips
Small business owners: Your vehicle could be a bigger tax write-off than you think
If you used a vehicle for your business during 2025, you may be able to claim valuable tax deductions on your 2025 tax return. Many small business owners use their personal vehicle for work. Whether that’s driving to client meetings, picking up supplies, or traveling between job sites. The IRS allows businesses to deduct certain […]
Not all “business” expenses are tax deductible
Real estate improvements: Should you deduct everything now or spread it out?
6 last-minute tax tips for businesses
No taxes on tips? Treasury’s leak reveals who could qualify
Finally! Less paperwork for your business: New 1099 rules cut your filing requirements
The OBBBA brings changes to the QBI Deduction
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