squirestaxplanning

The old hourly model is dying. Clients now demand fixed fees tied to real results. The 2026 tax reforms make value pricing even more powerful. You can charge for the savings you create, not the hours you log. Done ethically, this builds trust and explodes revenue. Done wrong, it destroys reputations. At Squires Tax Planning, […]

Partnerships give owners unmatched tax flexibility. The 2026 tax reforms just made them even stronger. You keep the permanent 23% QBI deduction. You keep bonus depreciation. Special allocations remain the hidden weapon. They let you split income, losses, deductions, and credits any way you want. Ownership percentage does not matter. Done correctly, this saves partners

Inventory creates headaches for small business owners. You track costs. You fight complex accrual rules. You face surprise tax bills. The cash method changes everything. New 2025 reforms make it even stronger. Businesses with gross receipts under $30.7 million now qualify easily. You deduct inventory costs when you pay. You skip complicated rules. Owners save

The Name, Image, and Likeness (NIL) boom turns college athletes into entrepreneurs. Top stars like USC’s Caleb Williams earn $2.7 million annually. Mid-tier players land $10K–$50K deals through collectives. NIL income is fully taxable. It hits you with 15.3% self-employment taxes. Federal and state income taxes add more. This can eat 30–40% of your earnings.

The 2025 tax landscape is shifting fast, with the “One Big Beautiful Bill Act” and a new wave of tariffs reshaping how business owners and high-income earners manage their wealth. Signed into law on July 4, 2025, this reform locks in key tax cuts, introduces no-tax perks on tips and overtime, and adjusts estate taxes.

Are you struggling to convince clients to invest in tax planning amid the 2025 tax reforms? The “One Big Beautiful Bill” has shaken things up. It includes permanent TCJA cuts, no-tax on tips and overtime, new senior deductions, and looming estate tax hikes. These changes create urgency for business owners and high-income earners, but complexity

Are you planning to sell your accounting practice but worried about getting stuck in a deal that drags on? An earnout, where part of your payout depends on your firm’s future performance under new ownership, might sound like a safe bet. But earnouts often lead to stress, tax headaches, and lower payouts.  In fact, industry