Tax & Business Insights

If you own or operate a farm in Virginia, it is easy to hear “farm tax benefits” and assume it all falls under one big program. It does not. Virginia agriculture tax benefits operate through three separate systems: sales and use tax exemptions, Virginia income tax credits, and local land use-value assessment. Each has its […]

Cash flow problems can break a business faster than a lack of sales. We’ve seen profitable companies panic over payroll, delay tax payments, and lean on credit cards simply because cash was not arriving when it was needed. In this guide, I’ll walk through the most common cash flow problems small businesses face, why profit […]

If you sell products, one of the easiest ways to get surprised at tax time is through inventory. We see this often: a business owner spends heavily on inventory, looks at the bank balance, and assumes taxable income must be low. Then the tax return tells a different story. The problem is simple but important: […]

We love animals. Most pet owners do. And if you have ever paid for food, vet visits, grooming, medicine, boarding, or an emergency surgery, you have probably had the same thought at least once: surely some of this should be tax deductible. Usually, it is not. That is the plain tax answer. Most pet expenses […]

We are looking for an experienced tax accountant who wants more than repetitive tax return preparation. This role is for someone who can prepare business and individual tax returns, think through tax issues, communicate clearly with clients, and help business owners make better tax and financial decisions. Depending on experience, the role may also include […]

If you plan to sell an online business, your tax bill is not just a filing issue at closing. It is a deal-structure issue, an entity issue, a timing issue, and often a negotiation issue. Most sellers focus almost entirely on valuation: the multiple, the headline purchase price, and whether the offer feels fair. But […]

If you earn a high income in Virginia, it is easy to assume your state tax return is simple: top rate is 5.75%, file the forms, move on. That assumption is where people get blindsided. Virginia looks straightforward on the surface, but high earners run into a series of rules that quietly change the real […]

If your business is short on cash, a loan can look like the fastest fix. Sometimes it is. Sometimes it turns a temporary problem into a much bigger one. As a CPA, I look at business cash flow loans through one lens: does this financing solve the actual problem without putting the company in a […]

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, farm, inherited property, or mixed-use property can bring in other issues: Virginia income tax, federal capital gains tax, the 3.8% Net Investment Income Tax, depreciation […]

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 helps you use those numbers to make better decisions. That distinction matters more than most business owners realize. The wrong financial support can leave you […]

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 Credit or the Major Research and Development Expenses Tax Credit. (Virginia Code §58.1-439.12:08; Virginia Code §58.1-439.12:11) That does not make the issue irrelevant. Businesses may still […]

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 the right structure, a short-term rental can produce large first-year paper losses that may offset W-2 income or other non-passive income without needing real estate […]

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 traps are gifts over $25, entertainment, nondeductible personal-benefit costs (clothing, childcare) and assets that must be depreciated instead of expensed. TL;DR (quick cheat-sheet) Always deductible […]

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 problem is that a lot of the advice floating around is incomplete, outdated, or missing the IRS rules that actually matter. (irs.gov) A G-Wagon can […]

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 save. A SEP IRA is popular mainly because it is easy. That does not mean it is usually the better tax move. In a lot […]

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 more specific than that. The better tax treatment generally starts when a vehicle is over 6,000 pounds GVWR (“Gross Vehicle Weight Rating”), used more than […]

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 deduct the full cost of qualifying property in the first year. But the part that trips people up is timing. This is not just a […]

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 people get tagged with it every year because they misunderstand one basic point: the U.S. tax system is pay-as-you-go. The IRS does not just care […]

If you’re selling investments at a loss and buying them back too quickly, you can accidentally trigger one of the IRS’s most misunderstood rules: the wash sale rule. The stakes are real. A single mistimed trade can wipe out a legitimate tax deduction, push that loss into the future, and create reporting issues that are […]

If you invest in real estate and feel trapped by taxes, you’re not imagining it. Most investors are boxed into passive loss limits, forced to carry forward deductions for years, and often exposed to the 3.8% Net Investment Income Tax (NIIT) on top of everything else. Real Estate Professional Status (REPS) is one of the […]

If you’ve heard “hire your kids and it’s all tax-free,” you’ve heard the version that gets people in trouble. The real version is simpler and more boring: you can deduct wages paid to your child for legitimate work and, in the right unincorporated setup, those wages can also be exempt from FICA (under 18) and FUTA (under 21). Separately, the […]

The Augusta Rule (IRC §280A(g)) is one of the most powerful – and most misunderstood – tax strategies available to S-Corp and LLC owners. When used correctly, you can rent your home to your business for up to 14 days per year, deduct the expense on your business return, and pay zero income tax on […]

2026 and all of its tax deadlines are here. Below is a quick reference guide to the most important dates to keep in mind this calendar year. January 15th: due date to pay 4th quarter estimated taxes. February 2nd: Due date to send out 1099s and W-2s to recipients. Due date to file 1099-NECs and […]

Q: How can S-Corp owners maximize their QBI deduction? A: By strategically adjusting W-2 wages. For high-income S-Corp owners, the QBI deduction is limited by wage thresholds. Paying too little in salary can eliminate the deduction entirely – while a properly optimized salary can unlock tens of thousands in tax savings. But the salary must […]