Carry Learning Center

Tax scammers increasingly target small business owners with sophisticated schemes designed to exploit business tax forms, payroll systems, and professional relationships. The IRS’s 2026 “Dirty Dozen” list highlights threats that go far beyond the simple phishing emails most people recognize. Business owners face unique vulnerabilities around payroll withholding manipulation, ghost tax preparers who vanish after […]

Small business owners face a hidden tax complexity in 2025 and 2026. Federal tax law changes like the OBBBA Act have altered deductions for research expenses and bonus depreciation. States, however, do not automatically follow these changes. Some states adopt federal updates immediately. Others lock into older tax code versions and require new legislation each […]

Tax law changes can hit fast, and the 2026 updates from the One Big Beautiful Bill Act are no exception. Employers face new W-2 codes, higher 1099 reporting thresholds, and expanded deductions that affect payroll systems, employee communications, and filing deadlines. These changes apply to forms filed in 2027 for the 2026 tax year, but […]

Virginia’s 2026 budget negotiations have introduced a handful of tax policy changes that could affect how small business owners plan for the year ahead. The proposals include scaling back certain business interest deductions, phasing out a major data center tax exemption, and increasing standard deductions for individual filers. Some of these changes create new costs. […]

High income can feel like a penalty. As earnings rise, more deductions and credits start to phase out. Some rules also add extra limits. Business owners who plan early often focus on a few levers. One lever is solid records for ordinary and necessary expenses. Another lever is retirement plan design. Timing also matters for […]

Selling an investment at a loss can reduce taxable capital gains. Many investors use this approach during tax loss harvesting, especially near year end. The issue arises when the same or a very similar investment is purchased too close to the sale date. The IRS wash sale rule generally disallows a loss if you sell […]

A higher income does not always mean a straightforward tax return. Some filers calculate their tax one way, then learn the IRS requires a second calculation using a different set of rules. This second system is called the Alternative Minimum Tax, or AMT. AMT is a parallel tax formula. It adjusts income by adding back […]

A Section 199A QBI deduction claim often rises or falls on one label. The income has to come from a qualified trade or business. If the activity does not meet that standard, the deduction generally does not start. That sounds simple. Many common situations make it harder. A rental property might look passive on paper. […]

The Section 199A QBI deduction can reduce taxable income for many pass-through business owners. The catch is that “specified service trades or businesses,” or SSTBs, face extra limits once taxable income reaches certain levels. Many businesses do not fit neatly into one bucket. A firm might sell products or other services and also provide SSTB […]