Tax Archives - Payne Nickles & Company - Ohio Accounting Firm, Business CPAs & Advisors

Cost Segregation Strategy: Balancing Immediate Tax Savings with Long-Term Impact

Key Takeaways Accelerated depreciation can improve short-term cash flow, but it often increases future tax exposure through recapture. The One Big Beautiful Bill Act restored 100% bonus depreciation, creating powerful but complex planning opportunities. Smart planning aligns tax strategy with pricing, investment timing, and long-term profitability goals. Business owners and investors often ask a simple …

Key Takeaways The R&D tax credit remains a valuable incentive for companies investing in innovation, but stronger documentation and project tracking are now essential. Section 174 capitalization rules require research expenses to be amortized, increasing the importance of strategic tax planning. Businesses that align innovation investments with strong financial tracking can capture tax benefits while …

Key Takeaways Meals at employer-operated eating facilities and meals provided for the convenience of the employer are now nondeductible. This change increases the after-tax cost of employee meal programs, which can affect overhead and pricing assumptions. Better tracking and a measured pricing review can help you maintain profitability without overcorrecting. The One Big Beautiful Bill …

Key Points: The SALT deduction cap will temporarily increase to $40,000 starting in 2025, creating short-term tax planning opportunities for high earners in high-tax states. Taxpayers with income between $500,000 and $600,000 may see reduced or no benefit due to phaseouts, making proactive income and deduction strategies essential. Business owners can bypass the SALT cap …

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBB) into law, enacting one of the most comprehensive tax packages since the Tax Cuts and Jobs Act of 2017. The legislation introduces permanent structural reforms to individual income taxation, provides enhanced deductions and credits for businesses, and redefines the international and …

A significant change is coming to the way taxpayers interact with the IRS, and it’s important to be aware of the update. Starting September 30, 2025, an Executive Order will require that all payments to and from the federal government be made electronically. This means the IRS will no longer accept paper checks for tax …

At Payne Nickles & Company, we believe effective accounting goes far beyond compliance; it should be a strategic advantage for your business. Our approach focuses on more than just preparing tax returns and reviewing statements. We can help our clients make proactive decisions all year long. This four-part series highlights practical—but often overlooked—strategies that can …

On July 4, President Trump signed the much-anticipated “One Big Beautiful Bill Act” (OBBB) into law, following approval by both the Senate and the House of Representatives. This sweeping legislation permanently extends and reshapes many provisions of the 2017 Tax Cuts and Jobs Act (TCJA), with wide-ranging implications for individuals, businesses, nonprofits, and international taxpayers. …

At Payne Nickles & Company, our mission is to provide forward-looking, client-oriented professional accounting and advisory services. That means we’re here not just to help you file tax returns, find deductions, and stay compliant each year—but also to guide you toward proactive financial strategies that make a real impact. Over the next few months, we’re …

Growth is exciting as a business owner, but it also brings added complexity to your tax situation. Expansion may mean hiring new staff, entering new markets, or investing in new assets. Without proper planning, these changes can increase your tax burden and limit the capital you have available to reinvest. The good news? With proactive …