Blog

13 Oct 26

Cost Basis Explained: How to Track Investment Basis

Cost basis is the amount you invested in an asset for tax purposes, usually the price you paid plus costs like commissions. When you sell, you pay tax only on the difference between your sale proceeds and your cost basis. Track your cost basis well and you report the right…

13 Oct 26

Solar Tax Credit 2026: The 30% Credit Has Ended

The federal solar tax credit for homeowners has ended. The 30% Residential Clean Energy Credit, known as Section 25D, does not apply to systems installed after December 31, 2025. The One Big Beautiful Bill Act, signed on July 4, 2025, cut the credit short. It had been scheduled to run…

06 Oct 26

How to Start a Gym Business Plan: Top 10 Steps

To start a gym business plan, define your gym concept first, research your local market, and then build the numbers that prove the gym can pay for itself. A complete gym business plan covers ten parts: concept, market research, company description, services and pricing, marketing, operations, management, startup costs, financial…

06 Oct 26

Home Improvement Records: Why Keep Them for Taxes

Keeping home improvement records is one of the simplest ways to cut the tax you owe when you sell your house. Every qualifying improvement adds to your home’s cost basis. A higher basis means a smaller taxable gain. Without receipts, invoices, and proof of payment, you cannot claim those costs,…

05 Oct 26

Is a Living Trust Right for You? Pros, Cons and Costs

A living trust is right for you if you own real estate, want your family to skip probate, or need someone to manage your assets if you become unable to. It is a legal arrangement that holds your property while you are alive and passes it to your heirs when…

22 Sep 26

Benefits of Health Savings Accounts for Maximum Savings

A Health Savings Account (HSA) is one of the most powerful and underused tax benefits available in 2026. It lets people with a qualifying high deductible health plan (HDHP) save pre-tax money for medical costs, grow that money tax free, and withdraw it tax free for qualified medical expenses. At…

22 Sep 26

7 Steps in Preparing a Business Plan

The 7 steps in preparing a business plan are: write the executive summary, describe your business, research your market, define your management structure, detail your products and services, build your marketing and sales strategy, and create your financial plan. Together, these steps turn an idea into a clear roadmap that…

21 Sep 26

Top 10 Bookkeeping Practices for Entrepreneurs

The best bookkeeping practices for entrepreneurs in 2026 are simple: use cloud accounting software, keep business and personal money separate, record every transaction with proof, reconcile accounts monthly, watch cash flow closely, and stay current on new tax rules. Following these habits keeps your books accurate, your taxes on time,…

15 Sep 26

15 Tax Deductions You Won’t Want to Forget in 2026

The tax deductions for 2026 look very different from just a few years ago. The One Big Beautiful Bill Act (OBBBA), signed on July 4, 2025, raised the SALT cap and brought back the mortgage insurance deduction. It also created new write-offs for tips, overtime, car loan interest, and seniors.…

15 Sep 26

IRS Announces MeF Shutdown and Cutover Dates

The IRS MeF shutdown is the yearly pause in the Modernized e-File (MeF) system. It gives the IRS time to update forms, business rules, and security for the next filing season. During this cutover period, you cannot e-file federal returns. For the last cycle, the IRS stopped accepting e-filed returns…