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Returning Value Blog

Divorcing as a Business Owner? Don't Let Taxes Derail Your Settlement

Posted by Nick Wheeler, CPA on Sep 03, 2025

Divorce is stressful under any circumstances, but for business owners, the process can be even more complicated. Your business ownership interest is often one of your largest personal assets, and in many cases, part or all of it will be considered marital property. Understanding the tax rules that apply to asset division can help you avoid costly surprises.

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Posted in Business Tax

How Do Businesses Report Cloud Computing Implementation Costs?

Posted by Lesley L. Price, CPA on Aug 29, 2025

Today, many organizations rely on cloud-based tools to store and manage data. However, the costs to set up cloud computing services can be significant, and many business owners are unsure whether the implementation costs must be immediately expensed or capitalized. Changes made in recent years provide some much-needed clarity to the rules.

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Posted in Business Tax

A Tax Guide to Choosing the Right Business Entity

Posted by Nick Wheeler, CPA on Aug 27, 2025

One of the most critical decisions entrepreneurs make when starting or restructuring a business is choosing the right entity type. This choice directly impacts how the business is taxed, the level of administrative complexity, and regulatory compliance obligations. While legal liability considerations also matter, we will focus on tax implications. For liability advice, consult a legal professional.

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Posted in Business Tax

The QBI Deduction and What's New in the One, Big, Beautiful Bill Act

Posted by Lesley L. Price, CPA on Aug 07, 2025

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.

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Posted in Business Advisory, Business Tax

The New Law Includes Favorable Changes for Depreciating Eligible Assets

Posted by Lesley L. Price, CPA on Jul 23, 2025

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.

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Posted in Business Advisory, Business Tax

Startup Costs and Taxes: What You Need to Know Before Filing

Posted by Nick Wheeler, CPA on Jul 16, 2025

The U.S. Census Bureau reports there were nearly 447,000 new business applications in May of 2025. The bureau measures this by tracking the number of businesses applying for an Employer Identification Number.

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Posted in Business Tax

The Financial Triple Play: 3 Reports to Help You Stay at the Top of Your Game

Posted by Nick Wheeler, CPA on Jul 15, 2025

In baseball, the triple play is a high-impact defensive feat that knocks the competition out of the inning. In business, you have your own version — three key financial statements that can give you a competitive edge by monitoring profitability, liquidity, and solvency.

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Posted in Business Tax

Dos and Don'ts to Help Protect Your Business Expense Deductions

Posted by Murry Guy, CPA on Jun 24, 2025

If you’re claiming deductions for business meals or vehicle expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation requirements set forth under tax law. Tax auditors are adept at rooting out inconsistencies, omissions, and errors in taxpayers’ records, as illustrated by one recent U.S. Tax Court case. (T.C. Memo. 2024-82)

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Posted in Business Tax

Planning a Summer Business Trip? Turn Travel into Tax Deductions

Posted by Nick Wheeler, CPA on Jun 19, 2025

If you or your employees are heading out of town for business this summer, it’s important to understand what travel expenses can be deducted under current tax law. To qualify, the travel must be necessary for your business and require an overnight stay within the United States.

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Posted in Business Tax

Can You Turn Business Losses Into Tax Relief?

Posted by Lesley L. Price, CPA on May 12, 2025

Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be used to reduce taxable income in later years.

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Posted in Business Tax

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