2025 Year-End Checklist for Businesses
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.
Other New and Expanded Tax Breaks for Small Businesses GalleryOther New and Expanded Tax Breaks for Small Businesses
Child & Dependent Care Credit, Corporate Taxes, IRS, Payroll Family Leave Credit, Payroll Sick Leave Credit, Self-Employed, Small Business, Tax Credits, Tax Deductions, Tax Law Changes, Tax Relief, Tax Tips, Taxes
Other New and Expanded Tax Breaks for Small Businesses
The OBBBA adds and expands several other tax breaks, including: Expensing of Qualified Sound Recording Productions For productions commencing in tax years ending after July 4, 2025, the special expensing rules for qualified film, television, and live theatrical productions are expanded to include aggregate qualified sound recording production costs of up to $150,000 per tax year. [...]
2025 Year-End Tax Planning for Small Businesses
As the year draws to a close, it's important that we discuss any year-end strategies that might help lower your business's taxable income for 2025. This has been a big year for tax law changes, with the President signing the One Big Beautiful Bill Act (OBBBA) into law this summer. Most of the changes are highly [...]
The Work Opportunity Tax Credit is Available Until the End of 2025
This article was published by the IRS. Finding a job can be a challenge and for certain groups, it can be even harder. The Work Opportunity Tax Credit is a federal tax credit available to employers for hiring individuals from certain groups who consistently face significant barriers to employment. The Work Opportunity Tax Credit is available [...]
Treasury, IRS Provide Penalty Relief for Tax Year 2025 for Information Reporting on Tips and Overtime under the One, Big, Beautiful Bill GalleryTreasury, IRS Provide Penalty Relief for Tax Year 2025 for Information Reporting on Tips and Overtime under the One, Big, Beautiful Bill
Corporate Taxes, IRS, Payroll, Personal Finance, Personal Taxes, Self-Employed, Small Business, Tax Law Changes, Tax Relief, Tax Tips, Taxes
Treasury, IRS Provide Penalty Relief for Tax Year 2025 for Information Reporting on Tips and Overtime under the One, Big, Beautiful Bill
This article was published by the IRS. The Department of the Treasury and the Internal Revenue Service have issued guidance providing penalty relief to employers and other payors for tax year 2025 regarding new information reporting requirements for cash tips and qualified overtime compensation under the One, Big, Beautiful Bill. Transition penalty relief for tax year [...]