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Category: Tax for Business

PriorTax keeps you current on the most recent tax for business news from the IRS. There’s no need to decipher confusing IRS lingo because we’ve got you covered when it comes to business taxes. Always check back here for information on new business deductions and credits that you should be claiming for your LLC or Partnership. From claiming deductions to filing your return, we handle your taxes while you handle your business.

If you have questions about your business tax, then leave a comment on our blog posts. Our tax experts will provide you with the answers that you need!

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PriorTax Mid Year Tax Review Tax Professional
admin
May 22, 2025

Your Mid-Year Tax Review Checklist for Business Owners

right now is the perfect time for a mid-year tax review. Think of it as a check-up for your business’s financial health

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investment gains
admin
May 15, 2025

Why Pay More to Use Tax Professional Service?

In recent complex financial landscape, many taxpayers find themselves at a crossroads when tax season approaches: should they tackle their tax returns independently or enlist the expertise of a tax professional? While the do-it-yourself approach may seem cost-effective at first glance, there are compelling reasons why investing in professional tax services can ultimately provide greater […]

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Tax Cuts and Jobs Act
admin
May 8, 2025

Upcoming 2026 Tax Changes from the Tax Cuts and Jobs Act Expiration

2026 Tax Changes on Tax Cuts and Jobs Act (TCJA) provisions for individuals and Businesses will be significant

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IRS Direct File
admin
Apr 17, 2025

Plans to Discontinue IRS DirectFile Tax Program

Trump administration plans to discontinue the IRS DirectFile Tax Program, which offers free tax filing services. 

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tax audits
admin
Mar 20, 2025

Preventing Responding to IRS Tax Audit

Preventing a tax audit and knowing how to respond if you are selected for one are crucial aspects of responsible tax planning. While the Internal Revenue Service (IRS) uses sophisticated methods to select returns for audit, understanding common triggers and maintaining meticulous records can significantly reduce risk. Should an audit occur, a calm, organized, and […]

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tax tips for graduates
admin
Mar 13, 2025

The Tipping Point: Everything about the “No Tax on Tips” Policy Proposal

potential tax on tips exemption represent a major shift in how the IRS treats tip income and reshape the economics of service nationwide

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2025 investment tax
admin
Mar 6, 2025

2025 Essential Investment Tax Filing Strategies

The 2025 Personal Tax Planning Guide highlights several key areas that could significantly impact your investment tax strategies and tax obligations

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IRS Direct File
admin
Feb 20, 2025

Everything you Need to Know about Direct File in 2025

States Not Currently Supporting Tax Direct File in 2025 and states are participating in Direct File in 2025

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tax benefits real estate
admin
Feb 6, 2025

Tax Benefits of Real Estate Investment

When considering real estate investment opportunities, it’s important to acknowledge the potential risks involved along with the various tax benefits real estate investment can offer. Diversifying your investment portfolio through real estate is a common strategy that allows you to potentially generate income from a new source or transform a personal interest into a profitable […]

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investment gains
admin
Jan 30, 2025

Capital Gains Taxes

When you sell an asset, you may earn capital gains, which are the profits from the asset sales. The capital gain taxes rate on these capital gains can vary based on the time duration you held the asset.

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