The Qualified Business Income deduction remains one of the most valuable tax benefits available to business owners in 2026. However, many companies still fail to maximize it. The deduction comes with income thresholds, wage limitations, and planning requirements that directly impact how much business owners can deduct. Without proper planning, the deduction may shrink or
Author Archives: Whittaker
06
May
May
Many business owners assume once a tax return is filed, the opportunity to reduce taxes disappears. That is not always true. In many cases, businesses overpay taxes because deductions were missed, income was reported incorrectly, or planning opportunities were never identified. An amended tax return can correct those issues and potentially recover substantial savings. Here
15
Apr
Apr
Many business owners ask the same question each year. Why do I have to make estimated tax payments? The answer is simple. The IRS requires you to pay taxes as you earn income, not just at year end. If you own a pass through business or receive income without withholding, estimated tax payments help you
08
Apr
Apr
Many business owners do not realize they made a costly mistake until it is too late. They elected into the Pass Through Entity tax strategy, but they missed the timing. The result, no deduction for the current year. The PTE election can create significant tax savings, especially for California business owners. However, the strategy only
25
Mar
Mar
Many business owners ask the same question. How much money can I take out of my business? The real concern is not the amount. The concern is how that amount impacts your taxes. Taking money out of your business without a plan can lead to higher taxes, penalties, or missed opportunities. With the right strategy,
25
Feb
Feb
Are CPA fees worth it for growing businesses? Many owners ask this question as revenue increases and financial complexity expands. If your company generates between $5 million and $100 million in revenue, accounting should produce measurable financial results. You should see tax savings, strategic guidance, and reliable financial reporting. If you only receive a tax
18
Feb
Feb
Many business owners delay switching accountants because they dread the conversation. They worry about tension, awkwardness, or damaging a relationship. Switching CPA firms is a normal business decision. As your company grows, your financial needs change. The firm that supported you at $2 million in revenue may not support you at $40 million. If you
11
Feb
Feb
Many business owners stay with the wrong CPA because they fear disruption. They worry about tax deadlines, payroll issues, and losing financial history. That fear keeps them stuck. Switching CPAs does not have to interrupt your operations. With the right transition plan, you can improve service without creating risk. If your company generates more than
06
Nov
Nov
California business owners have faced limited federal deductions for state and local taxes (SALT) since 2018. The One Big Beautiful Bill Act (OBBBA) brings welcome relief. Starting in 2025, the SALT deduction cap may rise to $40,000, up from $10,000, offering meaningful savings for taxpayers who itemize. Although details await official IRS guidance, this temporary
22
Oct
Oct
Why Making a California PTE Payment Still Makes Sense After OBBBA The One Big Beautiful Bill Act (OBBBA) raised the state and local tax (SALT) deduction cap from $10,000 to $40,000 for married filing jointly through 2029. At first glance, this might seem to reduce the need for California business owners to make a Pass-Through