Small Business

The IRS business mileage rate increased to 76 cents per mile, effective July 1, 2026. For anyone who drives a personal vehicle for business, that small-sounding change can affect reimbursements, tax records, job costing, invoices, and year-end deductions. The key detail is the effective date. Business miles driven before July 1, 2026 should be treated separately from business miles driven on or after July 1, 2026. Mixing them together can create messy records later, especiall

Navigating the world of tax deductions can sometimes feel like stepping into a maze without a map, especially for small business owners. One area that’s often confusing yet essential to understand is meal and travel deductions. Knowing what you can claim and what’s off-limits can help you keep more of your hard-earned money. Let's break it down in a casual, easy-to-understand way, so you can maximize your small business tax benefits! Disclaimer: As new tax law is passed, this

Navigating taxes and business structures can feel overwhelming. If you own an S Corporation, you may have encountered the term...