Now that car loan interest can be tax-deductible, going out for a ride seems more relaxing! Thanks to the One Big Beautiful Bill, the maximum car loan interest deduction is $10,000. It's available for both itemizing and non-itemizing taxpayers. You must include the vehicle identification number (VIN) on your tax return to claim the deduction. Learn [...]
This article was published by the IRS. The 2026 tax filing season is drawing near. The IRS encourages taxpayers to “Get Ready” and start preparing now. Taking a few steps today can save time and help taxpayers ensure they’re filing accurate returns in the coming months. The annual IRS "Get Ready" campaign is a series of [...]
QuickBooks can help you create 1099s, send them to your contractors, and e-file them with the IRS. Follow this step-by-step video to create 1099s for your business. You can either have QuickBooks auto-fill your forms, or manually fill them in yourself. Both options let you e-file with the IRS in the end. After you e-file with [...]
You still have a few hours left to take any important year-end financial or tax planning action for your business. This handy 2025 year-end checklist from Paychex can help! Click here to download.
The One Big Beautiful Bill Act is mostly very good news for businesses. But the sweeping bill also includes several provisions that will increase the tax bills of some businesses, including the repeal of some popular tax breaks. Excess Business Losses of Noncorporate Taxpayers The OBBBA makes permanent the rules that disallow the deduction of "excess [...]
