Tax Services Archives - Walter Shuffain

Trump Accounts: What Families Should Know Before Contributing

Key Takeaways Trump Accounts are a new tax-advantaged savings option for eligible children and may complement, rather than replace, existing planning strategies. Families and business owners should understand contribution limits, eligibility rules, and future regulations before making contributions. Employers may…

5 Tax Planning Opportunities High-Income Business Owners Should Evaluate in 2026

Key Takeaways Recent tax law changes have created new planning opportunities for high-income business owners. Pass-through entity elections and QSBS planning may provide significant tax savings when evaluated early. Proactive, year-round planning can help business owners retain more earnings and…

Massachusetts 2026 PTE change: What pass-through owners should know

Key Points Massachusetts is creating an additional elective pass-through entity tax for tax years beginning in 2026 that may preserve a federal deduction for state and local taxes above the SALT cap. Taxpayers with major 2026 transactions or significant Massachusetts…

Cost Segregation Strategy: Balancing Immediate Tax Savings with Long-Term Impact

Key Takeaways Accelerated depreciation can improve short-term cash flow, but it often increases future tax exposure through recapture. The One Big Beautiful Bill Act restored 100% bonus depreciation, creating powerful but complex planning opportunities. Smart planning aligns tax strategy with…

USPS Postmark Guidance Raises New Considerations for Tax Deadlines

The U.S. Postal Service issued final regulations effective December 24, 2025, clarifying how postmarks are applied and why the date shown may not reflect the day a document was mailed. While the concept of postmarking itself is not new, recent…

Understanding the New IRS Regulations on SECURE 2.0 Catch-Up Contributions for 2026

Key Takeaways Beginning in 2026, employees aged 50 or older who participate in a 401(k), 403(b), or 457(b) plan and earned more than $145,000 from their employer in the previous year must make their catch-up contributions on a Roth (after-tax)…

Treasury to Stop Issuing Paper Checks on September 30, 2025

Written by: David Bryant, CPA The White House on March 25, 2025, issued Executive Order 14247, “Modernizing Payments To and From America’s Bank Account.” The executive order states that effective September 30, 2025, to the extent permitted by law, the…

Tax-Smart Retirement Planning for Business Owners

Key points Business owners have retirement plan options beyond standard IRAs. Solo 401(k)s, SEP IRAs, SIMPLE IRAs, and cash balance plans can unlock powerful tax savings. The One Big Beautiful Bill (OBBB) introduces new deductions and planning opportunities. What Makes…

Planning Ahead with Qualified Small Business Stock

Written by: David Cooper Why this matters: Qualified Small Business Stock (QSBS) offers one of the most powerful tax benefits available to business owners and investors: the potential to exclude millions of dollars in capital gains from tax. But taking advantage…

How the One Big Beautiful Bill Impacts Business Owners: A Strategic Overview

The One Big Beautiful Bill Act (OBBB), signed July 4, 2025, brings sweeping federal tax updates that will reshape your year-end planning. We’ve identified the provisions: bonus depreciation, Sec. 179 expensing, QBI deductions, new above-the-line breaks, and international rules that…

Category: Tax Services