CATEGORIES
SME CPA BLOG
ARCHIVE
Key Takeaways: Medical Equipment Tax Strategy 2026 100% Bonus is Back: OBBBA (July 2025) permanently reinstated 100% Bonus Depreciation for assets purchased after Jan 19, 2025. The “Georgia Gap”: Georgia generally rejects Federal Bonus Depreciation (requiring a tax “add-back”) but accepts Section 179. For many local practices, Section 179 may be the superior tool to…
Read More
At a Glance: Trump Account Quick Facts Launch Date: July 5, 2026 The Benefit: A one-time $1,000 government deposit plus tax-advantaged growth. Who is Eligible: U.S. Citizens born between Jan 1, 2025 – Dec 31, 2028. The Key Form: Form 4547 (We recommend filing this separately from your tax return.) Your Action Item: File your…
Read More
Does thinking about your personal finances for 2026 feel like a chore? Let’s change that. Instead of viewing a budget as a restriction, think of it as a tool that grants you permission to spend confidently on what matters to you. Start your year on solid ground by committing to make this the year you…
Read More
The buzz around the “One Big Beautiful Bill Act” (OBBBA) has been hard to miss. Headlines promising “No Tax on Tips” and “No Tax on Overtime” sound fantastic for workers and complicated for employers. While the concepts seem simple on the surface, the fine print is anything but. At SME CPAs, we know that tax…
Read More
Year-end is crunch time for businesses looking to maximize their 2025 tax savings. The recently passed One Big Beautiful Bill Act (OBBBA) introduced several meaningful tax changes that may be able to help lower your tax bill, but they require action before the calendar flips to 2026. Think of this as your final call to…
Read More
As 2025 winds down and holiday plans take over, don’t forget an important financial to-do: maximizing the tax benefits of your charitable giving before big tax law changes hit in 2026. Whether you’re aiming to make your usual donations go further or navigating new deduction limits as a high-income earner, this is the year to…
Read More
Every business owner wants to minimize their tax liability, but even the most diligent among us can miss out on valuable deductions. While you probably have the big deductions like employee compensation and rent under control, it’s easy to overlook smaller expenses that could save you money. These commonly missed tax deductions might seem minor,…
Read More
The new One Big Beautiful Bill Act (OBBBA) has introduced a wave of tax changes that will impact individuals and businesses alike. With so much information swirling around, it’s easy to feel overwhelmed or misinformed. Let’s break down what’s actually in the bill and explore how these changes might affect your financial plans. What’s Actually…
Read More
Taking your small business across state lines is a big step, and an exciting one at that! But it also brings new challenges, especially when it comes to taxes. Maybe you’ve just opened a second shop or you’re shipping your products to customers in other states. Suddenly, new tax questions pop up, and compliance can…
Read More
Managing taxes can feel like a chore. Tax deadlines, payments, and recordkeeping often fall to the bottom of a busy to-do list. If you haven’t already tried the IRS Online Account, it’s a handy tool that simplifies some of this workload, helping you stay on track without the extra stress. The IRS Online Account lets…
Read More