#tax
Tax strategies, planning, and compliance for individuals and businesses
Business brokers and M&A advisors charge Double Lehman commissions of 10% down to 2% by tier, but minimum fee floors, non-creditable retainers, expense reimbursement, and tail clauses routinely add 5-20% on top of the quoted success-fee percentage.
Upwork and Fiverr 1099-Ks report gross payment volume before platform commissions and withdrawal fees are deducted, so freelancers must record both as separate Schedule C expense lines to reconcile reported income with actual bank deposits.
From 1 July 2025, the ATO's General Interest Charge and Shortfall Interest Charge are no longer tax-deductible — even on old tax debts. With GIC around 11% compounding daily, the after-tax cost of ATO debt jumped from roughly 7–8% to full sticker price. Here's how the incurred-date rule works and what to do about existing debt.
On June 24, 2026, the IRS Office of Professional Responsibility issued Alert 2026-19, its first guidance on AI under Circular 230. It requires human review of AI output, technological competence, secure handling of client data, written firm AI policies, and fees that reflect AI-driven time savings — here's what small business owners should ask their preparer.
Massachusetts rejected four major OBBBA federal tax breaks — immediate R&D expensing, 100% bonus depreciation on qualified production property, the $2.5M Section 179 limit, and the EBITDA-based interest cap — and set a September 10, 2026 deadline to file amended 2025 state returns without interest charges.
New Jersey's A5322 caps corporate net operating loss deductions at $1 million per year for privilege periods ending July 31, 2026 through July 31, 2030, with public utilities exempt, a six-year carryforward extension for disallowed losses, an estimated-tax penalty safe harbor, and an 80%-to-75% limitation phase-down through 2032.
Poland's sole proprietors must pick between ryczałt (2–17% on revenue), skala podatkowa (12%/32% on income), and podatek liniowy (flat 19%) by February 20, 2026. This guide compares the 2026 rules — including the health contribution jump to a 100% minimum-wage assessment base — and shows which regime fits low-expense freelancers versus high-cost contractors.
Bill C-15 makes bare trust reporting mandatory in Canada for tax years ending on or after December 31, 2026, with T3 and Schedule 15 filings due March 31, 2027. Covers which small-business arrangements count as bare trusts, the narrow $50,000/three-month exemption, and penalties up to 5% of trust property value.
Estonia added a 2% surcharge on board member fees (24% total) from January 2026 and now denies VAT numbers to e-Resident companies without real economic ties — while 0% corporate tax on retained profits remains. Here's what changes for Estonian OÜ owners.
From July 29, 2026, HMRC removes computers from the VAT Capital Goods Scheme entirely and raises the land and property threshold from £250,000 to £600,000 — the first increase since 1990. Expenditure incurred before that date stays under the old rules for its full adjustment period, so mid-project businesses must check when their first qualifying spend landed.
The One Big Beautiful Bill Act permanently raised the federal estate and gift tax exemption to $15 million per person ($30 million per couple) starting in 2026, eliminating the scheduled TCJA sunset to roughly $7 million. Here's what changed, which existing plans are now outdated, and the succession moves business owners should make — from portability filings to buy-sell agreement reviews and state estate tax exposure.
Irish sole traders filing Form 11 in 2026 face a mid-year PRSI Class S rise from 4.2% to 4.35% on October 1, a €650 minimum PRSI charge, and the preliminary tax rule requiring 100% of prior-year or 90% of current-year liability by October 31 — with a ROS extension to mid-November for those who file and pay online.
