Clear Tax & Accounting Insights
R&D Tax Credits in 2025: How the One Big Beautiful Bill Act Changes Section 174, Expensing, and Planning
The R&D tax credit in 2025 looks very different than it did just a year ago. With the passage of the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, Congress restored immediate expensing for domestic research and development costs, reversing the five-year amortization requirement that had been in place under prior Section 174…
Tax Planning vs. Tax Preparation: What’s the Difference?
Tax planning and tax preparation are often used interchangeably, but they serve very different purposes. Understanding the distinction can make a meaningful difference in how much tax you pay, how prepared you feel, and how confident you are in your financial decisions. For individuals and business owners alike, knowing when you need tax preparation—and when…
2025 Tax Law Changes: What Individuals and Business Owners Should Know Before Filing in 2026
Tax laws change every year, but recent federal tax updates affecting the 2025 tax year introduce several notable provisions that could impact individuals, families, and business owners when they file in 2026. Some of these changes expand deductions or credits, while others introduce new reporting requirements that taxpayers should be aware of well before filing…
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R&D Tax Credits in 2025: How the One Big Beautiful Bill Act Changes Section 174, Expensing, and Planning
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Tax Planning vs. Tax Preparation: What’s the Difference?
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2025 Tax Law Changes: What Individuals and Business Owners Should Know Before Filing in 2026
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What tax mistakes do small business owners commonly make?