As Thanksgiving approaches, it’s the perfect time to reflect on what matters most and plan for what lies ahead. This month’s edition explores important tax updates, retirement planning considerations, new education tax credits, and practical strategies for managing business cash. Discover valuable insights to help you make informed financial decisions as the year comes to a close.
The IRS has released its 2026-2027 special per diem rates for business travel, and the changes took effect October 1st. If your company reimburses employees for travel expenses, now is the time to update your rates, review your reimbursement policy, and ensure your expense systems reflect the latest IRS guidance before outdated rates create compliance problems. Read our latest article to learn what changed, what it means for your business, and what your finance team should do right now.
How much cash should your business keep on hand? The answer depends on more than a simple rule of thumb. This article breaks down a practical framework for separating your cash into layers, covering operating needs, committed funds, and contingency reserves, so you can make smarter decisions about liquidity, capital allocation, and when cash truly becomes excess.
The backdoor Roth IRA strategy can trigger an unexpected tax bill if you overlook the pro-rata rule, which requires the IRS to treat all of your traditional IRA balances together when calculating how much of a conversion is taxable. A separate account, a prior 401(k) rollover, or even a year-end IRA balance you didn’t have at the time of conversion can all affect the result. Before contributing or converting, review your full IRA picture to avoid a costly surprise at tax time.
Problems can loom large when payroll administrators ask for year-end information on a tight timeline. Owners and employees may be unavailable, records may be incomplete and the final payroll run may already be scheduled. That’s why November is the right time for a payroll checkup. Gathering information now gives your business time to value taxable benefits, confirm bonus amounts, correct employee records and meet the payroll provider’s cutoff. It also reduces the risk of inaccurate W-2s, amended payroll returns and unpleasant surprises for employees.
For many employers, November is an important 401(k) planning month. A calendar-year plan that uses certain safe harbor features may need to provide eligible employees with an annual notice 30 to 90 days before the new plan year begins. The rules are not identical for every safe harbor plan. Some plans are required to provide an annual safe harbor notice, while others may not. Regardless, now is a practical time for business owners to review the plan, understand the available choices and coordinate any changes with their advisors. We’ve outlined some considerations to help you:
Starting in 2027, a new federal tax credit will allow eligible taxpayers to reduce their tax liability dollar for dollar by making cash contributions to qualifying Scholarship Granting Organizations that fund K-12 education. Unlike a charitable deduction, this credit directly offsets what you owe, with individual credits of up to $1,700 per year and up to $3,400 for married couples filing jointly. If you support education-focused giving, now is the time to understand how this new credit interacts with existing state programs and your overall charitable strategy.
As the year enters its final stretch, now is the time to look ahead and make sure you’re prepared for what comes next. From year-end tax planning and upcoming federal tax changes to evolving rules and reporting responsibilities, a little preparation today can help prevent surprises tomorrow. This month, we’re sharing insights to help you ask the right questions, make informed decisions, and finish 2026 on solid footing.
The SEC may rescind its 2024 climate disclosure rules, but private companies should not assume their reporting obligations disappear. Contracts, state laws, and business relationships may still require climate and emissions information regardless of what the SEC does. Here is how to assess what still applies to your company and what you can safely scale back.
A divorce settlement divides assets and establishes legal rights, but it does not resolve every tax question that follows. Filing status, child-related benefits, property basis, retirement transfers, and prior joint return liability all require a separate tax review. Understanding where the settlement ends and tax law begins can help you avoid costly surprises after the divorce is final.