Cash Flow vs. Tax Liability: Why Profitable Businesses Still Get Caught Short at Tax Time One of the most common (and frustrating) conversations I have with business owners goes something like this: “We had a good year. The business made money. So why do we suddenly owe so much in taxes?” On paper, the numbers look strong. In reality, cash feels tight. This disconnect usually comes down to a misunderstanding of cash flow versus tax liability. Profit does not mean cash in the

Every year, many taxpayers measure the success of their return by one number: the refund. A big refund feels like a win. A small refund, or worse, a balance due, feels like a loss. But in reality, your tax refund is not a bonus, a reward, or a gift from the IRS. It’s simply your own money being returned to you, and understanding that distinction can help you make better financial decisions year-round. A tax refund happens when more money was withheld from your paycheck, or pa

Why Married Filing Jointly Is Almost Always the Better Choice (and the Rare Times It Isn’t) When couples get married, one of the first tax questions that comes up is how to file. While there are two options available, Married Filing Jointly and Married Filing Separately, the reality is that filing jointly is almost always the better financial move. In our experience working with families in Green Bay and De Pere, joint filing wins out in the vast majority of situations. The b

As the calendar turns toward a new year, now is the perfect time to start thinking about what it means to “Get Ready” for the upcoming filing season. The IRS has once again emphasized the importance of early preparation, especially as recent legislation has introduced meaningful changes that can affect deductions, credits, and overall tax outcomes. For individuals and small business owners alike, a little planning now can save time, stress, and money later. One of the most im

The Adoption Tax Credit can be one of the most valuable — and misunderstood — tax benefits available to growing families. While many people are aware that the credit exists, fewer understand how the timing rules work, what expenses qualify, and how recent law changes affect refunds. As a CPA firm serving families and small businesses in Green Bay and surrounding communities, we often see confusion around when the credit can be claimed and how it interacts with a taxpayer’s ov

When tax season arrives, one of the most common questions couples ask is whether they should file Married Filing Jointly or Married Filing Separately. It’s a simple choice on the surface, but the tax impact can be dramatic. For most couples, filing a joint return provides lower tax brackets, more credits, and a better overall outcome. Many people are surprised by how much money is left on the table when they choose the wrong filing status, especially if they’re preparing thei

Scams targeting taxpayers are almost as old as the income tax itself. As technology has evolved, so have the tactics scammers use to impersonate the IRS, steal personal information, or trick individuals into sending money. Understanding the history of these schemes can help taxpayers recognize warning signs and stay protected, especially during busy filing seasons when people are more focused on paperwork than potential fraud. At our firm here in Green Bay, we see firsthand h

Owning rental property can be a powerful wealth-building tool, but the tax rules can feel overwhelming. The good news is that with some basic education and good planning, you can turn the tax code into an asset instead of a headache. Whether you own a single duplex or several units around Green Bay, understanding how rental income is taxed helps you keep more of your cash flow. First, rental income is generally taxable in the year you receive it, including rent, advance rent,

✅ What’s new under OBBBA The OBBBA permanently restores 100% bonus depreciation for most qualified property that is acquired and placed in service  after January 19, 2025. ( RSM US ) For property acquired (via a binding contract) on or before  January 19, 2025 (even if placed in service later), the full 100% does not apply — instead those assets remain subject to the earlier phase-down rules (for example, 40% bonus depreciation for 2025) unless the taxpayer elects otherwise.

Paying for college can feel overwhelming, but the tax code offers a few powerful tools to help lighten the load. One of the most valuable is the American Opportunity Tax Credit (AOTC) — a credit designed to make higher education more affordable for students and families. Whether you’re filing from Green Bay or right here in De Pere, understanding how this credit works can make a meaningful difference in your tax prep this season. The AOTC is available for students pursuing a

Running a small business is rewarding, but it also comes with a long list of responsibilities that can feel overwhelming when tax season rolls around. Good tax habits not only keep you compliant but also help you save money and reduce stress. Here are a few practical tips every small business owner can use to stay ahead of the game. Start with clean books Accurate financial records are the foundation of successful tax planning. Make sure your bookkeeping is up to date, your a

If you’ve heard the buzz about the One Big Beautiful Bill Act (OBBBA), you might already know it’s one of the most wide-ranging tax packages in years. What makes it especially interesting is a handful of new above-the-line deductions—tax breaks you can claim even if you don’t itemize. For individuals and families in Green Bay and De Pere, these changes could mean real money back in your pocket starting with the 2025 tax year. Here’s what you need to know, and how to plan ahea

If you live in the Green Bay / De Pere area and are starting your year-end planning, here’s a fresh insight you’ll definitely want on your radar for your tax prep  this season. As part of the new federal tax law (commonly dubbed the “One Big Beautiful Bill Act”, or OBBB) effective for the 2025 tax year, individuals may now deduct up to $10,000 of interest paid on a qualifying auto loan — even if they take the standard deduction. ( Schwartz & Schwartz ) Here’s what to know: Th

If you use your personal vehicle for business, there’s good news to start 2025. The IRS has raised the standard mileage rate to 70 cents per mile, up from 67 cents in 2024. That might seem small at first glance, but it can make a real difference when you add it up over a year. For many small business owners and self-employed individuals across Green Bay and De Pere, this change means more potential deductions and better opportunities for tax savings. Let’s put it in perspecti

The October 15th tax deadline is right around the corner, and for many taxpayers, that date brings a mix of relief and stress. Whether...

The summer of 2025 brought major tax news. On July 4th, the “One Big Beautiful Bill” (OBBB) was signed into law, reshaping several areas...

If you do your tax preparation in Green Bay, De Pere, or anywhere in northeast Wisconsin, there are several recent state tax changes that...

The recently passed One Big Beautiful Bill Act (OBBBA) is already reshaping the tax landscape for both individuals and businesses. With...

Real estate has long been viewed as one of the most reliable ways to build wealth, but savvy investors know that how you manage taxes can...

The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, is now one of the most talked-about tax developments this...