What you need to know about deducting business gifts
Thoughtful business gifts are a great way to show appreciation to customers and employees. They can also deliver tax benefits when handled correctly. Unfortunately, the IRS limits most business gift deductions to $25 per person per year, a cap that hasn’t changed since 1962. Still, with careful planning and good recordkeeping, you may be able […]
🍂 Happy Thanksgiving from OnTarget CPA! 🍂
As we gather with family and friends to celebrate this season of gratitude, we want to take a moment to thank you—our valued clients—for trusting us to be part of your financial journey. Your partnership means so much to us, and we are truly grateful for the opportunity to serve you. From all of us […]
Red Flags That Mean You Need Professional Tax Help Immediately
Navigating complex tax situations can be challenging, especially with diverse income sources and major life changes. This article highlights when to seek professional tax help, backed by credible data and real-life examples. Discover how professional guidance can optimize deductions, respond to IRS notices effectively, and adapt to changing tax laws, ensuring financial peace of mind.
New itemized deduction limitation will affect high-income individuals next year
Beginning in 2026, taxpayers in the top federal income tax bracket will see their itemized deductions reduced. If you’re at risk, there are steps you can take before the end of 2025 to help mitigate the negative impact. The new limitation up close Before the Tax Cuts and Jobs Act (TCJA), certain itemized deductions […]
5 ways your business can build a stronger annual budget
As the end of the year approaches, many businesses begin their budget-setting processes for the upcoming year. This annual rite of passage can be stressful, contentious and, perhaps worst of all, disappointing if your budgets often fail to achieve their objectives. The good news is that there are many ways to enhance your company’s […]
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/4rilRnpÂ
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 SÂ 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.​ […]
