Selling appreciated real estate in Virginia can trigger a bigger tax bill than most owners expect. A home sale may qualify for the federal home-sale exclusion, but a rental property,…
If you’re trying to decide between hiring a CPA, a CFO, or both, the simplest answer is this: a CPA helps make sure the numbers are right, while a CFO…
Virginia’s R&D tax credits have expired. For taxable years beginning on or after January 1, 2025, Virginia businesses generally can no longer earn the state Research and Development Expenses Tax…
If you earn strong W-2 income, you've probably heard the frustrating rule: rental losses usually can't offset your salary. For most long-term rentals, that's true. Short-term rentals are different. Under…
Q: What tax deductions do most small businesses miss? A: Nearly every “ordinary & necessary” expense – advertising, software, contract labor, insurance, rent, supplies – can be deducted. The main…
If you are eyeing a G-Wagon and telling yourself it is a business deduction, you are not alone. Social media has turned Section 179 into a luxury-SUV sales pitch. The…
If you run a business as a sole proprietorship, LLC, partnership, or S-Corp, choosing the right retirement plan can materially affect both your tax deduction and how much you can actually…
If you are shopping for an SUV in 2026 because you have heard you can “write off the whole thing,” the first thing to know is that the rule is…
If you are hearing that “100% bonus depreciation is back” and wondering what that means for your 2026 tax bill, the basic answer is that many businesses can once again…
If you’ve ever been hit with an IRS underpayment penalty, you already know how annoying it is. It is one of the most avoidable penalties in the tax code, yet…