#tax-planning
Tax Planning
Strategic tax planning to minimize liability and maximize savings
The St. Louis Tornado Tax Deadline Has Passed — Here's What Business Owners Still Need to Know
The IRS pushed most federal tax deadlines for the May 16, 2025 St. Louis tornado (FEMA DR-4877) to November 3, 2025 — but the Section 165(i) election to deduct disaster losses on a 2024 return stays open until October 15, 2026, and penalty-free retirement withdrawals and SBA loans up to $2 million remain in play for affected businesses.
Guam's Business Privilege Tax Drops to 4% on October 1, 2026: What the Rollback Means for Your Books
Guam's Business Privilege Tax returns to 4% on October 1, 2026, ending a "temporary" 5% rate that lasted eight years after the 2018 hike. The rollback passed 8–7, costs the territory an estimated $38–80 million a year, and doesn't touch the 3% small-business tier — here's how to plan monthly BPT filings through the two-step transition.
The SECURE 2.0 Startup 401(k) Tax Credit: How to Claim Up to $15,000 for Launching a Retirement Plan
SECURE 2.0 gives small employers three stackable federal tax credits for starting a retirement plan — up to $5,000 per year for three years in startup costs, up to $1,000 per eligible employee in contribution credits, and a flat $500 per year for auto-enrollment — all claimed on IRS Form 8881. Here's who qualifies, how the five-year phasedown works, and how the credits compare against state auto-IRA mandates in 2026.
Australia's Instant Asset Write-Off: The $20,000 'Permanent' Threshold That Isn't Law Yet
Australia's May 2026 Budget proposed making the $20,000 instant asset write-off permanent from 1 July 2026, but until the enabling Bill passes Parliament the legislated threshold reverts to $1,000 per asset. What qualifies, the car-limit and capital-works exclusions, and how to time purchases while the law is still pending.
How Bookkeeping-Native Banks Like Found Automate Freelancer Tax Set-Asides — and Where They Fall Short
Freelancers owe 15.3% self-employment tax plus income tax with no automatic withholding, and skipping quarterly payments triggers IRS penalties around 7% annually. Bookkeeping-native banking apps like Found earmark 25–30% of every deposit automatically — here's what they solve, where their tax estimates break down, and why your books should live in a format you own.
Flipping Houses in 2026: Why the IRS Taxes Your Profit as Ordinary Income, Not Capital Gains
House flippers are almost always IRS "dealers," not investors — flip profits are ordinary income on Schedule C plus 15.3% self-employment tax, often a combined rate over 40% versus the 15–20% capital gains rate flippers expect. How the Winthrop factors decide dealer status, why rehab costs must be capitalized into COGS, and four strategies (including an S corp election) that reduce the hit.
Ontario Cuts Its Small Business Tax Rate to 2.2%: What CCPC Owners Should Check Before Year-End
Effective July 1, 2026, Ontario cut its small business corporate tax rate from 3.2% to 2.2% and raised its eligible income limit from $500,000 to $600,000. Calendar-year CCPCs must prorate to a blended ~2.7% for 2026, and the unchanged $500,000 federal limit creates a new $100,000 band taxed at 17.2% — here's what to verify before your fiscal year closes.
Puerto Rico Act 38-2026: What Changed in the Act 60 Investor Tax Decree — and Who Keeps 0%
Puerto Rico's Act 38-2026, signed March 20, 2026, ends the 0% Act 60 Individual Resident Investor rate for new applicants — decrees secured by December 31, 2026 keep legacy 0% terms, later filers pay 4%, the program extends to 2055, and LLC-owned homes no longer qualify.
South Africa's 2026 VAT Threshold Jump: What the New R2.3 Million Line Means for Your Small Business
South Africa's 2026 Budget raises the compulsory VAT registration threshold from R1 million to R2.3 million effective 1 April 2026, lifts voluntary registration to R120,000, and adds a R600,000 tax-free band to turnover tax — here's who should consider deregistering, who shouldn't, and how to keep the bookkeeping clean through the transition.
2027 ACA Premium Tax Credit Percentages: What Rev. Proc. 2026-26 Means for the Self-Employed and Small Employers
IRS Revenue Procedure 2026-26 sets the 2027 ACA employer affordability threshold at 10.22% and updates the premium tax credit applicable percentage table (2.15%–10.22% of household income by federal poverty line bracket). Here is how the new numbers — and a quiet premium-growth methodology change — affect self-employed marketplace buyers and small employers.
The EU Entry/Exit System Is Live: What the 90/180 Schengen Rule Now Means for Digital Nomads
The EU's Entry/Exit System became mandatory at all 29 Schengen borders on April 10, 2026, replacing passport stamps with biometric tracking that automatically flags 90/180-day overstays. Here's how the rule actually works, the fines and entry bans for overstaying, 2026 digital nomad visa options from Croatia to Malta, and why ETIAS arrives in Q4 2026.
Freelancing in Switzerland: How Cantonal Taxes, AHV, and the CHF 100,000 VAT Line Actually Work
A Swiss freelancer's tax bill stacks federal (up to 11.5%), cantonal, and communal layers — roughly CHF 15,000–18,000 on CHF 100,000 of profit in Zug versus about CHF 28,000 in Geneva. This guide covers AHV self-employed status (three criteria, ~10% of net profit, CHF 2,300 registration threshold), the CHF 100,000 VAT and Commercial Register line, 8.1% standard VAT, Pillar 3a deductions up to CHF 36,288, and when a GmbH beats a sole proprietorship.