Your Financial Planning Will Never Be the Same After 2026
As financial landscapes shift due to technological advances and legislative changes, financial planning is set for a transformation by 2026. From personalized AI-driven financial advice to evolving tax laws and estate planning, staying informed and proactive is crucial. On-Target CPA in Indianapolis is ready to guide you through these changes, offering tailored strategies and local insights. Embrace the future of finance with confidence and ensure your financial security.
Review your business expenses before year end
For businesses, smart timing of deductible expenses can be a key strategy in year-end tax planning. But understanding exactly what’s deductible and what’s not isn’t easy. https://bit.ly/4rilRnp
Review your business expenses before year end
Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025 taxes and might even provide permanent tax savings. Also consider the impact of the One Big Beautiful Bill Act (OBBBA). It makes permanent or revises some Tax Cuts and Jobs Act (TCJA) provisions […]
Why start-ups should consider launching as S corporations
Launching a new business brings tough decisions. And that holds true whether you’re a fledgling entrepreneur starting your first company or an experienced businessperson expanding into a second or third enterprise. Among the most important calls you’ll need to make is how to structure the start-up for tax purposes. For many business owners, electing S corporation […]
Understanding IRS Tax Resolution: How OnTarget CPA Can Help
Facing IRS challenges can be overwhelming, but you’re not alone. OnTarget CPA provides comprehensive IRS tax resolution services to help you navigate these complex situations confidently. Audit Representation If you’ve been selected for an audit, our team will represent you before the IRS, handling all communications and ensuring your rights are protected throughout the process. […]
No tax on car loan interest under the new law? Not exactly
Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence interest or home mortgage interest, which can be deducted, subject to some limitations, if you itemize deductions on your tax return. The One Big Beautiful Bill Act (OBBBA) adds another exception for eligible car […]
The next estimated tax payment deadline is coming up soon
If you make quarterly estimated tax payments, the amount you owe may be affected by the One Big Beautiful Bill Act (OBBBA). The law, which was enacted on July 4, 2025, introduces new deductions, credits and tax provisions that could shift your income tax liability this year. Tax basics Federal estimated tax payments are designed to […]
5 ways businesses can assess health care benefits spending
If your business sponsors health care benefits for its employees, you know the costs of doing so are hardly stable. And unfortunately, the numbers tend to rise much more often than they fall. According to global consultancy Mercer’s Survey on Health & Benefit Strategies for 2026, 51% of large organizations surveyed said they’re likely […]
How working in the gig economy affects your taxes
The gig economy offers flexibility, autonomy and a way to earn income, but it also comes with tax obligations that can catch many workers off guard. Whether you’re driving for a rideshare service, delivering food, selling products online or offering local services like pet walking, it’s crucial to understand the tax implications of gig […]
Corporate business owners: Is your salary reasonable in the eyes of the IRS?
Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, it may disallow certain deductions or reclassify payments, potentially leading to penalties, back taxes and interest. But by proactively following certain steps, owners can help ensure their compensation is […]
