What You Can Do To Protect Your Business From Rising Costs
For the 12 months ending in April 2026, the U.S. inflation rate was 3.8%, according to the U.S. Bureau of Labor Statistics. Prices for your business’s products, materials and other [...]
How To Make Financial Reports Easier For Stakeholders To Understand
Financial statements are essential tools for evaluating performance, planning for growth and managing risk. Yet many business owners, board members, donors and investors don’t have [...]
Why Performance Management Is A Financial Imperative For Employers
When an employee’s performance slips, many small and midsize employers hesitate to act. It’s an understandable reaction. Confrontations are often difficult for supervisors. Trouble [...]
Consider Your Potential Charitable Deduction Before Donating Artwork
If you give artwork to charity, the deduction you can claim depends on several factors, including the type of organization receiving the piece and how it will be used. Special subs [...]
IRS Issues Final Regulations On Tips Tax Break
Last year, a new income tax deduction for qualified cash tips went into effect under the One Big Beautiful Bill Act (OBBBA). The break is scheduled to expire after 2028. In Septemb [...]
Protecting Nonprofit Operations And Financial Stability When Disaster Strikes
From winter storms and flash floods to wildfires and hurricanes, nearly every region of the United States faces the risk of natural disasters. But organizations must also consider [...]
Estate Planning For Foreign Assets Requires Extra Attention
Do you hold assets such as overseas real estate, foreign bank accounts or investments in international markets? Properly addressing foreign assets in your estate plan is ess [...]
What’s A “Small Business,” And Why Does It Matter?
Certain small businesses may qualify for various federal tax breaks. But different tax provisions use different size tests. Read on to learn more about big tax breaks for small businesses that meet one such test.
Understanding Taxable Gift Implications of Allowing Free Use of a Residence
Understanding Taxable Gift Implications of Allowing Free Use of a Residence When you allow someone, whether a child, parent, or friend, to use your residence rent-free, it may have potential gift tax implications under U.S. federal tax law. The IRS considers the fair market rental value of the property as a key factor in determining whether such an arrangement constitutes a taxable gift. Below, we explore the rules, factors, and strategies to consider.
Partnerships vs S-Corporation
Partnerships vs S-Corporation Thinking about starting a business but not sure how to set it up? Choosing the right structure can impact your taxes, liability, and future growth. Two common options—Partnerships and S Corporations—come with their respective advantages and rules. In this post, we will highlight the key elements of each to help you decide which structure may be the better fit for your business.
Maryland’s New Tax on Technology Services: What You Need to Know
Maryland’s New Tax on Technology Services: What You Need to Know Starting July 1, 2025, Maryland introduced a new 3% sales tax on various technology services, a move designed to modernize the state’s tax system in response to the growing digital economy.
Is An HDHP Plus An HSA A Financially Smart Health Care Option For You?
Health Savings Accounts offer several valuable tax benefits. But you can contribute to one only if you have a high-deductible health plan.
HOW THE CRYPTOCURRENCY WORLD INTERSECTS WITH THE TAX WORLD
HOW THE CRYPTOCURRENCY WORLD INTERSECTS WITH THE TAX WORLD As cryptocurrency investing and transactions become more mainstream, taxpayers need to be aware of potential taxable events that must be reported on their tax returns. Keeping thorough and accurate records is essential to ensuring compliance and proper reporting to the IRS.
AVOIDING IRS PENALTIES THROUGH SMART WITHHOLDING AND ESTIMATED PAYMENTS
AVOIDING IRS PENALTIES THROUGH SMART WITHHOLDING AND ESTIMATED PAYMENTS Penalties often arise from underpayment, late filing, or incorrect income reporting—mistakes that are avoidable with some planning. Preventing IRS penalties starts with one key strategy: ensuring you pay the correct amount of tax throughout the year. This can be achieved by arranging proper withholding, making timely estimated tax payments, or combining both of these strategies.
Should A Living Trust Be Part Of Your Estate Plan?
A living trust is a powerful estate planning tool. It offers several advantages for individuals and families looking to manage their assets both during their lifetime and after death.
Construction Industry Alert: New Depreciation Rules Under OBBBA Create Major Tax Opportunities
Big News for Contractors: Depreciation Rules Just Changed Construction businesses making equipment investments in 2025 face new tax opportunities — and new pitfalls. The One Big Beautiful Bill Act (OBBBA): ✅ Permanently reinstates 100% bonus depreciation (for property placed in service after Jan. 19, 2025). ✅ Increases Section 179 expensing limits to $2.5M with a $4M phase-out. ⚠️ Some states don’t conform with federal rules — meaning the benefits may vary. These changes can mean significant tax savings, but they also require careful planning to maximize impact. 💡 If you’re considering a major equipment purchase in 2025, now is the time to evaluate your strategy. 👉 Contact our Construction Industry Services team to learn how to take full advantage of these new rules.
5 Ways Your Business Can Build A Stronger Annual Budget
As summer gives way to fall, many businesses begin their budget-setting processes for the upcoming year. This annual rite of passage can be stressful, contentious and, perhaps wors [...]
New Rules Could Boost Your R&E Tax Savings In 2025
A major tax change is here for businesses with research and experimental (R&E) expenses. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) reinstated the immediate deduction [...]
Factoring Tax Law Changes Into A Business Valuation
Several provisions of the One, Big, Beautiful Bill Act (OBBBA) — enacted on July 4, 2025 — alter the tax rules for businesses. The new law generally extends and expands many provis [...]
The Future of Auditing: Embracing AI and Data Analytics to Stay Ahead
The Future of Auditing: Embracing AI and Data Analytics The audit landscape is rapidly evolving as AI and data analytics redefine traditional methods. By leveraging advanced tools like AI-driven risk assessments, machine learning fraud detection, and continuous data monitoring, auditors can now analyze entire data populations with greater speed and precision. This shift delivers clear client benefits—enhanced accuracy, proactive risk identification, and meaningful insights that go beyond compliance. Yet, technology is only part of the equation. Human judgment, professional skepticism, and ethical oversight remain critical to audit quality. At CST Group, CPAs, PC, we’re investing in cutting-edge tools and specialized training to deliver smarter, value-driven audit services. Want to learn how a technology-enhanced audit can benefit your organization?
How Will The Changes To The SALT Deduction Affect Your Tax Planning?
The One Big Beautiful Bill Act (OBBBA) shifts the landscape for federal income tax deductions for state and local taxes (SALT), albeit temporarily. If you have high SALT expenses, the changes could significantly reduce your federal income tax liability. But it requires careful planning to maximize the benefits — and avoid potential traps that could increase your effective tax rate.