Many businesses overlook the refundable Fuel Tax Credit, which applies only to specific nontaxable uses of gasoline, diesel, and other fuels. Knowing who qualifies—and who doesn’t—can mean the difference between a valid claim and costly mistakes. Read my blog to see if your business is eligible at StephanoSlack.com.
The IRS is eliminating paper checks starting September 30, 2025. That means no more mailing your tax payments and no more paper refunds. Waiting to act could result in penalties or delayed refunds. Learn the steps to enroll in electronic payment systems now so you’re ready before the deadline.
The One Big Beautiful Bill Act (OBBBA) eliminated most individual credits for clean energy, including the clean vehicle credits for cars and the energy-efficient home improvement credit. The following is a summary of the credits that will expire soon.
Accurate inventory reporting can make a significant difference in your business’s tax liability and financial statements. Discover the rules, methods, and reporting requirements that ensure compliance and help you manage costs effectively.
Adopting a child in 2025? Thanks to the One Big Beautiful Bill Act, the enhanced Adoption Tax Credit—now worth up to $17,280 and partially refundable—offers real financial relief for families, including up to $5,000 back even if you owe no federal income tax. These changes especially benefit lower- and middle-income households and families adopting children with special needs.
Big changes are here for the Section 48C Advanced Energy Project Credit under the One Big Beautiful Bill Act (OBBBA). If you’re involved in clean energy manufacturing, critical materials, or industrial decarbonization, these updates could impact your credit eligibility, funding opportunities, and timelines.
The One Big Beautiful Bill Act expands the completed contract method, giving more residential contractors the ability to defer income and improve cash flow. This change is particularly impactful for firms managing long-term projects and operating on tight margins.
The One Big Beautiful Bill Act brings significant changes to the business interest deduction rules—restoring the more favorable EBITDA-based limitation under Section 163(j). This update could significantly increase your allowable interest expense deduction and improve after-tax cash flow.
New IRS rules and legislative changes in 2025 are reshaping how businesses approach accounting method changes. Whether you’re looking to reduce tax liability, improve compliance, or align your method with long-term goals, now is the time to act.