Returning Value Blog

Are your company’s financial statements keeping up with how people consume information today? We live in a world that scrolls, swipes, and scans. With information coming at us nonstop, most people don’t have the time — or patience — for dense financial reports.

The qualified business income (QBI) deduction, which became effective in 2018, is a significant tax benefit for many business owners. It allows eligible taxpayers to deduct up to 20% of QBI, not to exceed 20% of taxable income. It can also be claimed for up to 20% of income from qualified real estate investment trust dividends.

Recent IRS downsizing efforts have posed challenges for taxpayers attempting to resolve issues with the agency. Over recent months, thousands of IRS employees have left the IRS through the administration’s deferred resignation programs, comprehensive layoffs of probationary employees, and retirements.

The One Big Beautiful Bill Act (OBBBA) contains a major overhaul of an outdated IRS requirement. Beginning with payments made in 2026, the new law raises the threshold for information reporting on certain business payments from $600 to $2,000. Beginning in 2027, the threshold amount will be adjusted for inflation.

In March, the U.S. Department of the Treasury was directed to begin phasing out the acceptance and disbursement of paper checks. This phase-out is set to occur by September 30, 2025, and the purpose is to enhance security, reduce fraud, and improve government efficiency.

New federal legislation is shaking up how tip income and overtime pay are taxed—at least temporarily. From 2025 through 2028, qualified employees could see major savings on their federal tax bill thanks to the No Tax on Tips Act and a new federal overtime deduction. Here’s what employers and employees need to know, and how it might (or might not) impact your paycheck. 

The One Big Beautiful Bill Act (OBBBA) includes a number of beneficial changes that will help small business taxpayers.Perhaps thebiggest and best changes are liberalized rules for depreciating business assets. Here’s what you need to know.

Starting a business can be rewarding, but the financial learning curve is often steep. The U.S. Bureau of Labor Statistics estimates that one in five new businesses will fail within one year of opening, roughly half will close within five years, and less than a third will survive for 10 years or longer. A common thread in early failures is weak financial planning and oversight.

The One, Big, Beautiful Bill Act (OBBBA) was signed into law on July 4. The new law includes a number of favorable changes that will affect small business taxpayers, and some unfavorable changes, too. Here’s a quick summary of some of the most important provisions.

Alabama's Back-to-School Sales Tax Holiday Weekend: July 18–20, 2025

The State of Alabama will participate in its 20th annual Back-to-School Sales Tax Holiday Weekend, beginning Friday, July 18, 2025, at 12:01 a.m. and ending at midnight on Sunday, July 20, 2025. During this three-day event, shoppers can purchase a variety of school-related items free of the state’s 4% sales tax.