by MCCITStaff | Dec 31, 2025 | Tax Planning
The One Big Beautiful Bill Act (OBBBA) creates new income tax deductions for tax years 2025 through 2028 for qualified cash tips and overtime compensation. If you receive tips or overtime pay, you likely have questions about whether you’re eligible for a deduction and...
by MCCITStaff | Dec 30, 2025 | Accounting, Business Planning
As a new fiscal year begins, it’s important to review your company’s accounting for unused paid time off (PTO). Many employers allow employees to carry forward unused vacation, sick leave or personal time. This policy may create liabilities under U.S. Generally...
by MCCITStaff | Dec 30, 2025 | Estate Planning, News, Tax Planning
The One Big Beautiful Bill Act (OBBBA) creates a new type of tax-advantaged account for eligible children. Section 530A accounts can be established for children under age 18 who have a Social Security Number (SSN). Contributions to properly established accounts can...
by MCCITStaff | Dec 28, 2025 | Accounting, Construction
Contractors: Don’t blame yourself if you’ve been running on the assumption that your company is ineligible for the federal research and development (R&D) tax credit. Many people believe the potentially lucrative tax break is available only to organizations...
