Category: News

Stay on track and avoid costly IRS penalties by understanding which forms to use. Businesses must prepare 1099s for contractors and vendors by February 2, 2026.

For most people, tax season brings a quiet panic about what they might be forgetting and a last-minute rush to pull everything together before the deadline. But it doesn’t have to be that way. With just a little preparation, you can avoid surprises, minimize your tax bill, and make the entire process smoother for both you and your advisor.

We are proud to recognize 10 team members for their growth and leadership at WP+D with the following promotions.

The IRS is offering penalty relief for 2025 as employers struggle to comply with new reporting requirements for tips and overtime pay under the OBBBA. While businesses won’t face penalties this year for failing to separately report qualified tips, overtime compensation, and occupation codes, this transition period is explicitly temporary, and smart employers will use it to prepare for full compliance in 2026.

From expanded deductions and new above-the-line benefits to shifting phaseouts and sunsetting exemptions, 2025 offers unique opportunities for individuals to lower their tax liability before year-end. This guide highlights smart, timely moves to help you make the most of current law before key changes take effect in 2026.

Explore essential 2025 year-end tax strategies for businesses, updated for the One Big Beautiful Bill Act (OBBBA). From QBI planning to bonus depreciation, entity structure, and reporting changes, this guide helps you make informed, compliant, and tax-smart decisions before year-end.

The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025.

Learn how basis and at-risk amounts work together to determine loss deductibility in partnerships and S corporations, and why tracking both is essential for compliance and tax planning.

Congratulations to Taylor Douglas Waslaski, CPA, on your promotion to tax manager. Taylor has six years of public accounting experience and provides tax planning and tax services to private business owners throughout Arizona.

Meeting 401(k) audit requirements is an essential part of plan administration and fiduciary responsibility. This guide outlines when an audit is needed, common compliance pitfalls, and strategies to stay organized throughout the process – so you can meet your obligations confidently and on time.

In an era of endless online “tax tips,” misinformation spreads fast – and even smart taxpayers can fall for it. Here’s how to identify misleading financial advice and stay grounded in trustworthy, compliant tax guidance.