Don Breckenridge

Maxing out your 401(k) sounds like a smart retirement move, but the contribution limit is not a savings recommendation. Before hitting that maximum, you should weigh your liquidity needs and near-term financial goals, make sure you are capturing your full employer match, and determine whether a 401(k), IRA, or HSA is the right home for each retirement dollar. Your financial plan, not the IRS limit, should guide how much you contribute and where.

A divorce settlement divides assets and establishes legal rights, but it does not resolve every tax question that follows. Filing status, child-related benefits, property basis, retirement transfers, and prior joint return liability all require a separate tax review. Understanding where the settlement ends and tax law begins can help you avoid costly surprises after the divorce is final.

The SEC may rescind its 2024 climate disclosure rules, but private companies should not assume their reporting obligations disappear. Contracts, state laws, and business relationships may still require climate and emissions information regardless of what the SEC does. Here is how to assess what still applies to your company and what you can safely scale back.

Nonprofit boards regularly decide on compensation, vendors, and relationships with affiliated organizations. But when someone with influence stands to benefit, those decisions deserve a closer look. Our latest article walks through the key questions every nonprofit should ask before approving a transaction.

The IRS has launched a new mobile app that replaces IRS2Go, giving taxpayers quick access to refund status, payment history, tax records, IRS notices, and Identity Protection PINs. This article walks through what the app can do and how to use it safely. If something in your IRS account raises questions, a tax professional can help you make sense of it.

How much cash should your business keep on hand? The answer depends on more than a simple rule of thumb. This article breaks down a practical framework for separating your cash into layers, covering operating needs, committed funds, and contingency reserves, so you can make smarter decisions about liquidity, capital allocation, and when cash truly becomes excess.

Q4 tax planning is not a single deadline; it’s a series of decisions that each have their own timing. Some strategies require lead time to execute, others depend on an updated year-end forecast, and some work can legitimately carry into the new year. Knowing which category each decision falls into is what separates effective fourth quarter planning from a last-minute scramble in December.

Although the June 30, 2026 deadline for the Section 179D energy-efficient commercial building deduction has passed, projects that began construction on or before that date may still be eligible for a significant per-square-foot deduction. Building owners with projects already underway should act now to confirm eligibility, secure required third-party certification, and file Form 7205 before documentation becomes difficult to reconstruct.

The IRS raised the standard mileage rates for the second half of 2026, effective July 1, with the business rate increasing from 72.5 cents to 76 cents per mile. Taxpayers who use their vehicle for business, medical, or qualifying moving purposes will need to track mileage separately for each half of the year. Learn what the new rates mean for your deductions, reimbursement policies, and recordkeeping.

The IRS is replacing its First Time Abate program with a new Automatic Exemption from Penalty (AEP), which will automatically prevent certain penalties for eligible taxpayers with a strong compliance history. Starting with 2025 tax year returns and 2026 quarterly returns, qualifying individuals and businesses may avoid failure-to-file, failure-to-pay, and failure-to-deposit penalties without needing to call the IRS or submit a separate request. Understanding the eligibility requirements and transition timeline is key to making the most of this change.