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R ecent tax legislation includes new provisions that allow for the establishment of new investment accounts for children ages 18 or younger. The goal of the account is to have funds available for them when they become adults. While not yet available to create, news out of the IRS in early December makes it important to stay up to date on the rules and benefits as they develop. Here is what you need to know. The Basics of the Account Starting after July 4th, 2026, you may begi

At the end of the year you will be inundated with commercials to donate a vehicle to charity. While it is one of the biggest contributions a taxpayer can make, if not done carefully, the tax deduction of a donated vehicle could be a lot lower than you think. The Rule: When you donate a vehicle, the value of your donation is  either  the fair market value of your vehicle when you donate it  OR  the value received by the charitable organization for your donation. Unfortunately,

As the year winds down, small healthcare businesses feel the crunch more than most. Patient volume spikes, staff schedules shift, and administrative work somehow multiplies overnight. Still, there are a few high-impact financial tasks that can set your clinic or pharmacy up for a stronger start in the new year. Here are five practical items to tackle before December 31. 1. Review Fixed Assets and Consider Smart Year-End Purchases Fixed assets are the long-term tools your busi