Are you prepared for the sweeping changes the OBBBA brings to your business tax landscape? In this comprehensive overview, you’ll discover how the OBBBA permanently extends the qualified business income deduction, enhances bonus depreciation, and significantly raises the Section 179 expensing limits. The legislation also introduces new provisions affecting research expense deductions, business interest limitations, reporting thresholds for 1099 forms, and more. Whether you’re a business owner in Idaho, California, or beyond, understanding these updates is crucial for optimizing your tax strategy and ensuring compliance in the coming years.

Stay informed about the latest OBBBA tax changes that could impact your financial planning as an individual taxpayer. This overview highlights key updates, including permanent adjustments to tax rates and brackets, increased standard deductions, and expanded deductions for state and local taxes. You’ll also discover new opportunities for deductions on tip income, overtime pay, senior benefits, car loan interest, and enhancements to 529 education savings plans. Whether you’re planning for your family’s future, managing charitable contributions, or navigating credits like the child tax credit and adoption credit, understanding these OBBBA provisions will help you make the most of your tax situation in the coming years.

Most people think tax planning is just an April 15th task, but in reality, effective tax planning is a year-round strategy that can help you minimize your tax liability, improve cash flow, and achieve your financial goals. At Wendy Klein CPA Professional Corporation, you receive guidance on proactive tax strategies that go far beyond annual filing—covering quarterly estimated taxes, entity selection, retirement contributions, and more. With the new OBBBA legislation introducing permanent changes and expanded opportunities, staying ahead with expert advice is more important than ever. Discover how ongoing tax planning can empower you to keep more of what you earn and set your business or family on the right financial path.

On December 23, 2025, the Fifth Circuit Court of Appeals stayed the lower court’s preliminary injunction against the beneficial ownership information reporting mandate.

A federal district court in Texas issued a nationwide preliminary injunction against enforcing the beneficial ownership reporting requirements mandated by the Corporate Transparency Act (CTA). (Texas Top Cop Shop v. Garland (December 3, 2024) U.S. Dist. Ct., Eastern Dist. Of Texas, Case No. 4:24-CV-478)

Tax planning is an important aspect of any business that should not be overlooked. Even though business owners have a lot of tasks to manage, tax planning can be one of the most valuable things to do for the business. In fact, there are many benefits of tax planning that can help save money and improve the business as a whole. Here are eight of the top benefits of tax planning for businesses:

Once again our federal government has, in it’s infinite wisdom, added yet another form of required reporting for small business owners. This one is a purely administrative burden, but has a tremendous amount of pitfalls and penalties if not done timely and correctly. This is not a tax reporting, you can file the forms yourselves. I mainly want to bring the requirement to your attention because I have not heard much about it in general conversation, so many of you may not even know this is out there, but I have heard much about it in my tax world and it is something you are all subject to whether you are aware of it or not. It is something I can help you with or file on your behalf. That will be for you to decide once you have looked into it.

When it comes to managing your finances, especially in the complex realm of taxes, having the right guidance can make a world of difference. Whether you’re an individual seeking financial clarity or a business aiming for fiscal success, understanding the benefits of hiring a Certified Public Accountant (CPA) is essential. In this blog, I’ll walk you through the advantages of working with a CPA. Let’s delve into the world of financial expertise.

When it comes to managing your finances and ensuring that you navigate the complex world of taxes effectively, having the right support can make all the difference. Making informed tax decisions is crucial. In this blog, I’ll share compelling reasons why hiring a CPA is a smart move for anyone looking to make the most of their financial situation.

Starting a business is an exciting endeavor, but it can also be a challenging one. Whether you’re launching your startup in the bustling streets of Los Angeles or amidst the scenic beauty of Idaho, the journey is filled with twists and turns. As a Certified Public Accountant with over 35 years of experience, I understand the unique tax planning needs of individuals and businesses. In this blog, I’ll share valuable insights into why every startup, regardless of its location, can benefit immensely from the expertise of a business consultant.

When approaching your tax situation, whether for your business or personal, it is helpful to approach a professional who knows all the tricks of the trade. A qualified professional can assist you identify areas where there are potential tax saving opportunities so that saved money can be utilized to meet your business growth and other personal endeavors.

Season’s Greetings from Wendy Klein CPA Professional Corporation. We wish you and your family a wonderful holiday season, and a happy, healthy, and prosperous New Year 2023!

Do you need a Certified Public Accountant (CPA) to help you navigate your taxes? Or receive some crucial advice on a major business move? If so, you will need to keep several aspects in mind when looking to hire a CPA. You will need to find a professional who is able to handle your annual tax returns, advise you on a wide range of financial issues, have extensive business knowledge, and so on. Also, they need to have the necessary skills and expertise to provide you the financial know-how that will help you to achieve success. So, to assist in identifying the right professional for your business needs, here’s a list of things to look for when hiring a Certified Public Accountant.

As a small business owner with limited resources, you may find it difficult to gauge when to outsource responsibilities or handle them on your own. This is particularly true when it comes to business accounting, especially if you’ve just started your business or if your company has grown beyond an expected size. From choosing a business structure that helps you save the most money on taxes to providing advice on a major business move, there are many instances when your small business needs a certified public accountant (CPA).

Wendy Klein CPA Professional Corporation wishes you and yours a happy, healthy, and prosperous holiday season.

Although the IRS is making progress, there are still significant return processing backlogs, such as:

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Article Written By: Mary Katherine Browne

Original Article Posted on: Nov 9, 2021

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Original Article Posted on: Nov 5, 2021

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Article Written By: Jesse C. Hubers

Original Article Posted on: Nov 1, 2021

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Article Written By:  Paul Jones

Original Article Posted on:  Aug. 10, 2021

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