mcgservicellc

Premium Increases Hit Hard in 2026 Healthcare premiums jumped 26% on average for 2026. Self-employed workers face an extra $1,500 annually. Enhanced tax credits expired. New strategies required. The "Big Beautiful Bill" changed the landscape. Standard deductions increased. Some credits disappeared. Health insurance costs remain deductible: if you know the rules. Self-Employed Health Insurance Deduction […]

The One Big Beautiful Bill Act changed everything for business owners planning major purchases in 2026. Bonus depreciation is back at 100%: and it's permanent. For years, business owners watched this tax benefit shrink. It dropped from 100% in 2022 to 80% in 2023, then 60% in 2024, and hit just 40% in 2025. The

2026 Tax Landscape The 2026 tax year introduces significant regulatory shifts. These updates prioritize small business liquidity. Compliance requires immediate adjustment to accounting practices. New legislation expands deduction ceilings. Permanent status for key incentives provides long-term planning stability. Bonus Depreciation The restoration of 100% bonus depreciation is active. This allows full deduction of qualifying asset

The One Big Beautiful Bill Act changed how businesses deduct interest expense. For companies carrying debt or investing in equipment, these changes mean more deductions and more cash staying in your accounts. Tax years beginning in 2025 forward operate under new rules. If your business pays interest on loans, lines of credit, or financed equipment,

2026 Federal Updates Update payroll systems immediately. Review new federal tax withholding tables. Adjust internal calculators. Ensure employee W-4 elections remain current. Monitor tax rates. Prevent under-withholding. Execute payroll adjustments. Maintain compliance records. Verify employee data. Consult MCG Service Tax Solutions. Tip Reporting Mandates Identify qualified tips. Exclude mandatory service charges. Distinguish business type exclusions.

The Game Changed in 2026 The One Big Beautiful Bill rewrote the playbook for small business tax planning. Section 179 expensing limits jumped from $1,160,000 to $2,560,000 for 2026. That's not a typo. Business owners can now write off over $2.5 million in qualifying purchases immediately: no waiting, no multi-year depreciation schedules. This matters for

Filing Window Tax season 2026 began January 26, 2026. File federal returns by April 15, 2026. This cycle covers earnings from the 2025 calendar year. Late filings incur penalties. Request extensions if necessary. Use the MCG Service tax portal to track deadlines. OBBB Overview The One, Big, Beautiful Bill (OBBB) passed July 4, 2025. It

Tax season 2026 isn't just about filing your returns: it's about grabbing opportunities before they disappear. If you've been thinking about upgrading your business with energy-efficient improvements, the clock is ticking louder than ever. The "Big Beautiful Bill" extended some clean energy incentives, but critical deadlines are approaching fast. Miss them, and you're leaving serious

Tax legislation for 2026 introduces significant changes. The "One Big Beautiful Bill Act" modifies previous tax codes and establishes new compliance requirements. Small business owners must adapt strategies to maximize deductions and maintain compliance. SALT Cap The State and Local Tax (SALT) deduction cap is now $40,000. This is an increase from the previous $10,000

2026 Changes Everything The One Big Beautiful Bill Act (OBBBA) restructured small business hiring incentives. New caps. Higher percentages. Expanded eligibility. If you're adding headcount in 2026, you're leaving money on the table without these credits. Paid Leave Credit Expansion Section 45S now covers 12.5% to 25% of wages paid. Eligible businesses claim credits on