January 8, 2026 Standard mileage rate for the use of a car (also vans, pickups or panel trucks) was updated effective on January 1, 2026 as the table below.  * Federal law only allows a moving expense deduction for active-duty military Businesses generally can deduct the entire cost of operating a vehicle for business purposes. Alternatively, they can use the business standard mileage rate, subject to some exceptions. The deduction is calculated by multiplying the standard mi

November 14, 2025 On July 4, 2025, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law. This legislation includes numerous tax changes, particularly a significant update to Section 179 expensing election, which may greatly impact many taxpayers. Below, we outline the details of the changes of Section 179.   Overview of Section 179 Section 179  expensing is applied before bonus depreciation under  Section 168(k) . After applying  Section 179  and bonu

November 13, 2025 The origin of the admonition, “A small good is like a great evil, while a great good may appear merciless,” is from the Chinese classic The Caigentan  (aka, The Unencumbered Spirit: Reflections of a Chinese Sage ), but I first heard this from Dr. Kazuo Inamori, who was the founder and honorary chairman of Kyocera. The idea is that what we don’t want to hear is often what we need for personal growth, while what appears to be kindness can lead to self-indulgen