The 20% Business Owner Deduction: Who Still Qualifies at High Incomes
The 20% deduction for pass-through business income was once scheduled to disappear after 2025. That did not happen. The One Big Beautiful Bill Act, or OBBBA, made the QBI deduction permanent and changed several rules beginning in 2026. For business owners, the permanent deduction can remain valuable. The harder question is how much of it […]
How Business Owners Can Still Write Off a Home Office
Federal home office rules changed sharply for employees after 2017, yet the deduction remains available to some owners. A sole proprietor may deduct a qualifying workspace. An S-corporation owner can receive reimbursement for eligible costs when the arrangement is documented correctly. The wrong route may cost you the deduction, create taxable wages, or cause you […]
Should You Turn Your Business Into an S-Corp? The Tax Math
A business can be doing well and still have the wrong business structure for its current level of profit. For many owners, that question comes up when self-employment tax starts taking a larger bite out of the earnings. The S-corp vs sole proprietor decision is often presented as an easy tax-saving move. In reality, the […]
Filing an Extension Without Getting Penalized (When You Owe Big)
A tax extension can give you more time when your return is complicated or important documents are still arriving. For high earners, business owners, and investors, those extra months can be especially useful. For a 2025 individual return, Form 4868 generally extends the filing deadline from April 15 to October 15, 2026. However, your tax […]
Tax Strategies for High-Income W-2 Earners: How to Legally Reduce What You Owe
Many high-income W-2 employees believe meaningful tax planning is only for business owners, but that’s not the case. Effective planning extends well beyond standard paycheck withholding. High-income tax planning can help identify strategies like retirement accounts, investments, charitable giving, equity, and real estate to actively influence your tax liability. With key 2026 updates, including new […]