Insights

It's the 18th of the month, and last month’s financials just landed in your inbox. You open them. The numbers look fine, or they look concerning, but either way it doesn't change much. The decisions August was supposed to inform have already been made. You approved the equipment purchase two weeks ago. You told your best crew lead you'd revisit his rate at the end of the quarter. You've been quoting jobs off last spring's margins because that's the most recent picture you had

The overtime deduction created by the One Big Beautiful Bill Act has been on the books for a while now, but until recently the guidance on how employers actually report it was thin. That changed in August, when the IRS substantially expanded its frequently asked questions on the deduction for qualified overtime compensation.

On August 11, 2026, Treasury's Financial Crimes Enforcement Network issued a final rule permanently removing the requirement for U.S. companies and U.S. persons to report beneficial ownership information under the Corporate Transparency Act. The rule took effect on August 14, 2026. It makes the exemptions permanent that had been in place on an interim basis since March 2025, so for most domestic businesses nothing changes in practice, the change is that it's now settled.

On August 20, 2026, the IRS announced a digitally authenticated Tax Compliance Report, available on demand through the IRS Individual Online Account. Taxpayers can generate and download the report themselves, at any time, and the file carries an IRS-issued digital certificate that lets the recipient confirm it's genuine.

Financial statements exist precisely because gut feel misses things. A business can feel busy and still be losing money on every job. It can feel stable while cash is quietly running thinner every month. The numbers usually know before you do. The good news: there are signals - you just need to know where to look.

The tax landscape for real estate and construction businesses is shifting quickly this year. State and local tax issues are climbing, key provisions of the One Big Beautiful Bill Act (OBBBA) are reshaping financing and investment decisions, and more firms than ever are entering the tax credit transfer market for the first time. BDO's recent industry survey of tax leaders sheds light on where the pressure points are, and where the opportunities are too.

If you've ever paid a tax penalty and later found out you could have requested relief for it, the IRS just made that process a lot less hands-on for taxpayers with a solid track record.

If you or your business track vehicle mileage for tax purposes, there's a mid-year update worth knowing about. The IRS has raised the standard mileage rates for the remainder of 2026, a rare move that hasn't happened since 2022.

Managing your tax information just got easier. The IRS offers two types of secure online accounts that give you around-the-clock access to your tax information - no phone calls, no waiting for mailed documents. Whether you're an individual taxpayer or a business owner, setting up an online account puts you in control of your tax information instantly.

With major tax changes now in effect for 2026, proactive planning has never been more important. The One Big Beautiful Bill Act (OBBBA) has introduced significant changes that are already reshaping how businesses approach tax strategy, from charitable deductions and research costs to opportunity zones and energy tax credits.

Is your business's financial management keeping you up at night? If you find yourself spending more time wrestling with accounting tasks than focusing on business growth, you're not alone. Many successful businesses reach a tipping point where their accounting processes no longer serve their needs. Here's how to recognize when it's time for a change.

Every business decision has a tax impact - some obvious, some hidden. Understanding these implications before you act can save significant money and prevent unexpected surprises. Smart business owners know that timing and structure of decisions can be just as important as the decisions themselves.