by Lori Bowden | Apr 3, 2026 | Tax & Accounting
Turning a favorite pastime into income can be rewarding, but it raises an important tax question: Is the activity a hobby or a business? The answer matters because different tax rules apply to each. All income must be reported on your tax return, regardless of whether...
by Lori Bowden | Apr 2, 2026 | Financial Planning, Tax & Accounting
A recent survey found that 45% of small businesses reported growth, but 78% wanted to grow. This January 2026 data from Intuit QuickBooks Small Business Insights suggests that many small businesses are struggling to achieve their expansion goals. Small businesses...
by Lori Bowden | Apr 1, 2026 | Tax & Accounting
Generally, scholarships received by degree candidates are tax-free to the extent they’re used for qualified tuition and related expenses. These include tuition, mandatory fees and required books, supplies and equipment. Amounts used for non-qualified expenses — such...
by Lori Bowden | Mar 4, 2026 | Tax & Accounting
Beginning in 2026, a significant change to retirement plan catch-up contributions takes effect. Part of the 2022 Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act, the change affects higher-income taxpayers age 50 and older who contribute to...
by Lori Bowden | Mar 3, 2026 | Tax & Accounting
If your business conducts research or product development, a significant tax law change could unlock tax savings. The 2025 tax legislation, commonly known as the One Big Beautiful Bill Act (OBBBA), reinstated the ability to immediately deduct domestic research and...
