Each year there's typically an open enrollment for many benefit programs from your employer.
Here are some tips to consider.
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We Do Books™ Blog
Michael DiSabatino of We Do Books™ shares expert insights to help you unlock your business's full potential by delivering proven strategies for maximizing tax savings, streamlining operations, and driving sustainable growth.
The information provided on this site is for general informational purposes only and should not be construed as professional financial, tax, or legal advice. For advice tailored to your specific situation, we recommend consulting with a qualified professional. We Do Books is here to assist by calling 855-922-WeDo (9336)
The information provided on this site is for general informational purposes only and should not be construed as professional financial, tax, or legal advice. For advice tailored to your specific situation, we recommend consulting with a qualified professional. We Do Books is here to assist by calling 855-922-WeDo (9336)
Business owners love two things: making money and not giving more to the IRS than necessary. A properly structured “working vacation” can help with both.
If you plan it correctly, a personal trip that includes real business activity can qualify as business travel.
That means a significant portion of the cost can become tax-deductible under current 2026 rules.
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Your granddaughter needs a car, but cannot afford the payments. As a favor, you provide the $25,000 to purchase the car. You tell your granddaughter to pay you back when she can, but there is no loan document. The IRS sees this payment during an audit and asks where your interest income is for this loan. Should this happen, you will quickly understand the meaning of AFRs.
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For years, the tax code trend was to reduce the amount of interest that may be deducted on your tax return.
Until recently, it really only allowed interest deductions as an itemized deduction on qualified residences and vacation property.
That is changing now with the passage of the OBBB Act and the introduction of a new car interest tax break.
Here is what you need to know:
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