The One Big Beautiful Bill Act (OBBBA), enacted in 2025, made permanent the federal income tax deduction for qualified business income (QBI). This break was originally introduced under the Tax Cuts and Jobs Act. Many business owners have been curious about whether and how this tax break may apply to their rental real estate activities. If you count yourself among them, here's the scoop. Ground Rules Under current law, self-employed individuals, sole proprietors and

Records Retention: What to Keep, What to Toss and Why It Matters With tax season in the rearview mirror, many individuals and business owners wonder how long they should hold on to tax-related records — and what can safely be discarded. Different types of documents have different retention recommendations and requirements, and keeping records either too long or not long enough can create unnecessary risk or clutter. Understanding what to retain and for how long can help you s