What you need to know about business insurance
Is your business paying for insurance coverage you don’t need — or missing protection where risk may be significant? You may have many options to choose from, depending on your organization’s operations and risks. General liability is the most basic policy, and it’s often paired with product liability, professional liability and property coverage. Other products include employment practices liability, business interruption, key person and cyberinsurance policies. Work with an independent broker to learn more about each type. We can also help you evaluate potential coverage gaps and manage business risk cost-effectively.
Tax identity theft: Businesses are at risk, too
Small business owners, beware: Tax identity theft is a costly, ongoing threat. Criminals may file fraudulent returns using a business’s EIN, impersonate executives to steal employee W-2 data, or use forged IRS documents to pose as a business for financial or tax-related activity.
Protect your organization by implementing a cybersecurity plan, securing sensitive data, training employees and using technology tools such as encryption and multi-factor authentication. Working with a trusted tax professional is also critical. We can review your risks, recommend safeguards and determine the next steps if something looks suspicious. Contact us to learn more.
2 retirement plans for small businesses with lean budgets
Some small business owners assume that offering their employees a retirement plan is cost prohibitive. But two plans are particularly suited to employers with fewer than 100 workers: SEP and SIMPLE IRAs. Only employers can make contributions to SEP IRAs — which provide high contribution limits — but you aren’t required to fund accounts when cash-flow constraints make it difficult. SIMPLE IRAs allow both employers and participants to make higher annual contributions than participants could with self-owned IRAs. Plus, your business’s contributions are tax-deductible. Contact us to review your budget and benefit needs and suggest an appropriate plan.
Fine-tune your tax withholding after filing your return
Many taxpayers discover at filing time that their tax payments during the year didn’t align with their actual liability — either too much or too little was withheld from their paychecks. Keeping withholding aligned with expected tax liability can help you enjoy better cash flow during the year and avoid unwelcome surprises at filing time.
If you received a large refund or owed a lot of tax when you filed your 2025 return, it may be beneficial to fine-tune your withholding for 2026. Adjustments may also be a good idea if you experience a major life event, such as having a child.
We can help you review your withholding (and estimated tax payments, if applicable) and make any needed changes.
Cost segregation studies can reveal substantial tax savings
Does your business own commercial real property? A closer look at your building costs could change how quickly you can deduct those expenses.
Business buildings generally have a 39-year depreciation period. A cost segregation study separates various building components, such as electrical systems and flooring. It then allows these components to be reclassified and deducted over a much shorter period, thereby deferring taxes and boosting cash flow. Recent tax law changes enhanced these benefits by increasing first-year depreciation write-offs.
Contact us to discuss whether this strategy is right for your business. We can determine reasonable cost allocations to help withstand IRS scrutiny.
Strategic alliances: Collaborate now, possibly combine later
Joint ventures and other strategic alliances can help your business expand its market reach, achieve operational synergies and improve profitability. A well-structured arrangement may also give your business the chance to “audition” for a future merger. Keys to a successful alliance are thoroughly vetting your partner, putting a strong agreement in place and focusing on financial objectives. Regularly evaluate the relationship and, if it becomes a drain on resources, revise or end it. However, if it’s mutually beneficial, consider a permanent merger. Contact us to help ensure any alliance supports your long-term goals.
Tax mitigation strategies when rebalancing your investment portfolio
Large stock market gains in recent years, coupled with volatility in 2026, may have left you with a portfolio that’s out of balance with your desired asset allocation. If you haven’t rebalanced recently, it may be time. Careful planning can minimize the tax cost.
Say your portfolio is overweighted in large-cap U.S. stocks. You can save 2026 taxes if you sell some of this appreciated stock from a retirement account because the gain won’t be taxed. If you need to sell the stock from a taxable account, see whether there are assets in the account you can sell at a loss. The recognized loss can offset some or all of your capital gains.
Unlock tax-free gains with QSB stock
C corporation shareholders usually owe tax on gains from selling stock. But qualified small business (QSB) stock sales may qualify for a special gain exclusion. To be eligible for this break, certain requirements must be met.
QSB stock acquired after Sept. 27, 2010, may be eligible for a 100% gain exclusion if it’s held for at least five years. Under recent tax law changes, QSB stock acquired after July 4, 2025, may be eligible for a partial gain exclusion if it’s held for at least three years.
Contact us to learn whether this tax-saving strategy is right for your business. We can help structure your business to unlock the potential tax savings and navigate the complex rules.
How to ensure your business really owns its intellectual property
Intellectual property (IP) is foundational to the value of most businesses. To help ensure you actually own your company’s patents, trademarks, copyrights, trade secrets and other IP, work with an attorney to draft a standard invention assignment agreement. Employees and independent contractors should sign it when they’re hired and provide you with a list of excluded inventions (developed on their own or for previous employers). Legal advice is critical, but contact us as well. We can help you address IP ownership issues before you sell your business or before workers leave your employment. We can also help identify financial and tax considerations of IP.
Individual tax calendar: Key deadlines for the remainder of 2026
Here are a few key tax-related deadlines for individuals for the rest of 2026. JUNE 15: Pay the second installment of 2026 estimated taxes, if applicable. SEPT. 15: Pay the third installment of 2026 estimated taxes, if applicable. OCT. 15: File a 2025 income tax return and pay any tax, interest and penalties due if an automatic six-month extension was filed. DEC. 31: Incur various expenses that potentially can be deducted on your 2026 tax return. Contact us for more information about the filing requirements and to help ensure you meet all deadlines that apply to you.