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# Hedman Partners LLP

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## Posts

- [Blog](https://www.hedmanpartners.com/blog/) - Practical tax, accounting, and business insights from Hedman Partners LLP. Guides, checklists, and updates to help you plan and stay compliant.
- [Married and Not Working Outside the Home? Consider a Spousal IRA](https://www.hedmanpartners.com/spousal-ira-2026-rules/) - Not working outside the home? Learn spousal IRA rules for 2026, including traditional vs. Roth options, income limits, and contribution basics.
- [The Zen of Business Credit: 3 Accounts Receivable Metrics to Master Collections](https://www.hedmanpartners.com/the-zen-of-business-credit-3-accounts-receivable-metrics-to-master-collections/) - Track A/R turnover, aging, and DSO to spot issues early, improve collections, and protect cash flow. Includes simple formulas.
- [Fraud Trends 2026: Key Findings for Business Owners](https://www.hedmanpartners.com/fraud-trends-2026-key-findings-for-business-owners/) - ACFE’s 2026 fraud report shows organizations lose an estimated 5% of revenue to fraud. Learn common schemes, red flags, and best controls.
- [6 Summer Tax-Savings Opportunities Worth a Closer Look](https://www.hedmanpartners.com/6-summer-tax-savings-opportunities-worth-closer-look/) - Six summer tax moves to consider: short-term home rentals, vacation home rules, RV/boat deductions, business travel, day camp credits, and giving.
- [Midyear Tax Planning for Noncorporate Small Business Owners](https://www.hedmanpartners.com/midyear-tax-planning-for-noncorporate-small-business-owners/) - Midyear is a smart time for pass-through owners to plan. Review brackets, timing strategies, the QBI deduction, and the enhanced child care credit.
- [Tax-Saving Strategies for Capital Gains Tax](https://www.hedmanpartners.com/tax-saving-strategies-for-capital-gains-tax/) - Learn 4 tax-smart ways to reduce capital gains taxes in 2026, including the 0% rate, holding periods, tax-loss harvesting, and NIIT planning.
- [Delinquent Taxpayers May Experience Passport Issues](https://www.hedmanpartners.com/delinquent-taxpayers-may-experience-passport-issues/) - Owe significant back taxes? The IRS can certify “seriously delinquent” debt and the State Department may deny or revoke a passport. Learn options.
- [10 Ideas for Boosting Profits](https://www.hedmanpartners.com/10-ideas-for-boosting-profits/) - Reduce waste, improve cash flow, refine billing, and cut overtime. Try these 10 practical ideas to boost profits and strengthen your bottom line.
- [The Evolving Tax Impact of College Athletics](https://www.hedmanpartners.com/the-evolving-tax-impact-of-college-athletics/) - Learn how NIL payments impact taxes for student-athletes and boosters in college sports. Stay compliant and maximize your benefits.
- [Don’t Say “I Do” Without Reviewing These Tax and Financial Issues](https://www.hedmanpartners.com/dont-say-i-do-without-reviewing-these-tax-and-financial-issues/) - Learn the most important tax and financial moves to make before and after marriage. Avoid surprises and plan for a secure financial future together.
- [Business Valuations: A Powerful Tool for Smarter Decisions](https://www.hedmanpartners.com/business-valuations-powerful-tool-for-smarter-decisions/) - Discover how business valuations support financing, buy-sell agreements, strategic planning, and stronger operations. Make informed decisions with expert insight.
- [Cash vs. Accrual: Which Accounting Method Fits Your Business?](https://www.hedmanpartners.com/cash-vs-accrual-which-accounting-method-fits-your-business/) - Compare cash and accrual accounting for your business. Learn which method offers tax benefits and how 2026 rules expand cash method eligibility.
- [Tax Breaks for Boats and RVs: Four Ways to Save](https://www.hedmanpartners.com/tax-breaks-for-boats-and-rvs-four-ways-to-save/) - Learn how to maximize boat and RV tax savings for 2026. Discover deductions for interest, sales tax, business use, and donations. Don’t leave money behind!
- [Renovating Your Home? Don’t Leave Money Behind!](https://www.hedmanpartners.com/renovating-your-home-dont-overlook-tax-saving-opportunities/) - Discover tax-saving strategies for home renovations. Learn about deductions, credits, and how improvements can lower your tax bill. Don’t leave money behind!
- [How the IRS Determines Allowable Living Expenses for Tax Debt](https://www.hedmanpartners.com/how-the-irs-determines-allowable-living-expenses-for-tax-debt/) - Learn how the IRS determines allowable living expenses for tax debt, including food, housing, transportation, and healthcare standards.
- [Lesson Learned: Get to Know the Educator Expense Tax Deduction](https://www.hedmanpartners.com/lesson-learned-get-to-know-the-educator-expense-tax-deduction/) - Educators can deduct up to $350 for classroom expenses on 2026 tax returns. Learn who qualifies, what expenses count, and how to claim this tax break.
- [Beyond Compliance: Use Your Financial Statements to Improve Performance](https://www.hedmanpartners.com/beyond-compliance-use-your-financial-statements-to-improve-performance/) - Understand the balance sheet, income statement, and cash flow to improve decision-making and manage business risks using clear financial statement analysis.
- [Estate Tax Return Filings Are Essential to Preserving Portability](https://www.hedmanpartners.com/estate-tax-return-filings-are-essential-to-preserving-portability/) - Learn how the 2026 estate tax exemption works, the importance of portability for married couples, and why timely filing matters to preserve exemptions.
- [Supreme Court Ruling: How to Claim Your Tariff Refunds](https://www.hedmanpartners.com/supreme-court-ruling-how-to-claim-your-tariff-refunds/) - Learn how your business can qualify for tariff refunds after the Supreme Court ruling. Step-by-step guide to the CBP CAPE refund process.
- [Records Retention: What to Keep and When to Toss](https://www.hedmanpartners.com/keep-tax-records/) - Keep tax records the right way. Learn how long to keep tax records, what documents to save, and what you can safely shred to stay organized and audit-ready.
- [How to Handle Company Stock in a 401(k): NUA Tax Strategy Explained](https://www.hedmanpartners.com/how-to-handle-company-stock-in-401k-nua-tax-strategy-explained/) - Learn how Net Unrealized Appreciation (NUA) can reduce taxes on company stock in a 401(k) and when not rolling into an IRA may be beneficial.
- [What Are Outsourced Accounting & CFO Services? (Complete Guide)](https://www.hedmanpartners.com/what-are-outsourced-accounting-cfo-services-complete-guide/) - Outsourced accounting and CFO services explained. Learn what CAAS is, who it’s for, costs, and how it helps growing businesses.
- [Make the Most of the General Business Credit](https://www.hedmanpartners.com/make-the-most-of-the-general-business-credit/) - Learn how the General Business Credit (GBC) lets businesses claim valuable tax credits, how limits and carryforwards work, and what’s included in the GBC. Find out how unused credits and deductions can provide tax-saving opportunities for your company.
- [Take a 360-Degree Approach to Business Continuity Planning](https://www.hedmanpartners.com/take-360-degree-approach-to-business-continuity-planning/) - A comprehensive business continuity plan protects your company from disasters by covering IT systems, physical assets, supply chain risks, finances, and cyber threats. Learn how to build a resilient team and keep your business running through any crisis.
- [What's New With Your Form 1040 This Year?](https://www.hedmanpartners.com/whats-new-with-your-form-1040-this-year/) - #The IRS typically updates Form 1040 every year — sometimes a little, sometimes a lot. Given the many tax law changes under the One Big Beautiful Bill Act (OBBBA), there's plenty to talk about this filing season. Here are some highlights. Basic Changes The OBBBA permanently extends the individual federal income tax rates established under
- [Spotlight on Transfer Pricing Rules for International Businesses](https://www.hedmanpartners.com/spotlight-on-transfer-pricing-rules-for-international-businesses/) - #If your business is expanding its geographical footprint beyond state or U.S. borders, it's important to understand the transfer pricing rules. In a nutshell, transfer pricing refers to cross-border pricing arrangements for transactions between related companies (including parent and subsidiary or brother-sister companies with a common parent) in different jurisdictions. Typically, these transactions involve charges
- [Proper Fleet Management Can Ensure Safety and Save Money](https://www.hedmanpartners.com/proper-fleet-management-can-ensure-safety-and-save-money/) - #Whether your company has one vehicle or dozens on the road, smart "fleet management" can save you money and help ensure that your drivers are safer. Succeeding at fleet management calls for a multifaceted approach to handling your vehicles — including familiarizing yourself with applicable tax laws, keeping up with maintenance and tracking vehicle usage
- [Are You Up to Speed on the Auto Loan Interest Deduction?](https://www.hedmanpartners.com/are-you-up-to-speed-on-the-auto-loan-interest-deduction/) - #The One Big Beautiful Bill Act (OBBBA), enacted in the summer of 2025, includes a new temporary federal income tax deduction for auto loan interest. On January 2, 2026, the IRS published in the Federal Register proposed regulations addressing the write-off — which is available regardless of whether taxpayers itemize on their tax returns —
- [Our 2026 Annual Information Returns Newsletter is Here!](https://www.hedmanpartners.com/our-2026-annual-information-returns-newsletter-is-here/) - #Hot off the press! Our latest newsletter covering the 2026 Annual Information Returns (Forms 1099, W-2s, and more) is now available here. Key Updates for 2025: 1099s, Worker Classification, and New Tax Deductions Staying compliant with tax regulations is more important than ever—especially with evolving rules around Forms 1099, worker classifications, and new deductions for
- [CCRCs: Key Tax Implications for Residents](https://www.hedmanpartners.com/ccrcs-key-tax-implications-for-residents/) - #The demand for long-term care facilities in the United States continues to rise, along with the costs. Someone who turns 65 today has roughly a 70% chance of eventually requiring long-term care services, according to the latest data from the U.S. Department of Health and Human Services. Moreover, 20% of seniors will need it for
- [Protect Execs With D&O Insurance](https://www.hedmanpartners.com/protect-execs-with-do-insurance/) - #The volume of corporate litigation is an ongoing concern, in any economy. In recent years, there has also been a global trend to hold individuals accountable for their actions. For stockholders, employees, customers and clients who feel they have been wronged, finding the guilty party and holding them accountable can often be accomplished by filing
- [What Should You Do if You've Picked the Wrong Successor for Your Family Business?](https://www.hedmanpartners.com/what-should-you-do-if-youve-picked-the-wrong-successor-for-your-family-business/) - #Determining the right successor for your family business can be more complex than it first appears. Sometimes what looks good on paper doesn't play out well in reality. When the time comes to transition ownership and management to your chosen successor, what should you do if it seems like he or she isn't ready or
- [Incentivizing Employees to Participate in a Wellness Program](https://www.hedmanpartners.com/incentivizing-employees-to-participate-in-wellness-program/) - #Question: For several years now, our organization has sponsored a wellness program for employees. Unfortunately, we've never seen a high level of participation. A handful of employees seem to love it and take full advantage of its features. But a much larger percentage either barely participate or ignore it completely. At a recent leadership meeting, one
- [Federal Tax News for Individuals](https://www.hedmanpartners.com/federal-tax-news-for-individuals-2/) - #New Funding Expands Eligibility for Trump Accounts On December 2, President Trump announced that Michael and Susan Dell are donating $6.25 billion to expand the funding of tax-advantaged Trump Accounts. Introduced under the One Big Beautiful Bill Act, these accounts are intended to help children save for the future. Previously, the government pledged to contribute $1,000
- [Deducting Personal Theft Losses Will Soon Get a Little Easier](https://www.hedmanpartners.com/deducting-personal-theft-losses-will-soon-get-little-easier/) - #If you're unlucky enough to suffer a personal theft loss, you may be entitled to a federal income tax deduction. Or you may not. The rules are complex, but there's some good news: Last year's One Big Beautiful Bill Act (OBBBA) makes claiming these write-offs a little easier in the near future. Ground Rules Theoretically,
- [Are You Owed Money From a Business That's Filed for Bankruptcy?](https://www.hedmanpartners.com/are-you-owed-money-from-business-thats-filed-for-bankruptcy/) - #Suppose you've been doing business with a company that owes you money for your products or services. Things get so bad that you file a lawsuit to force them to pay up. But then you receive a notice that the customer has filed for bankruptcy. What now? Let's explore some of the rights and responsibilities
- [IRS Guidance Addresses New Deductions for Tips and Overtime](https://www.hedmanpartners.com/irs-guidance-addresses-new-deductions-for-tips-and-overtime/) - #The One Big Beautiful Bill Act (OBBBA) establishes new individual federal income tax deductions for qualified income from tips and overtime. Although the OBBBA wasn't signed into law until July 4, 2025, these new deductions were effectively made retroactive to January 1, 2025. The IRS has announced it won't issue revised information reporting forms for
- [Caught in a Cost Trap?](https://www.hedmanpartners.com/caught-in-cost-trap/) - #Any business owner in the manufacturing sector knows firsthand that inventory management is much more than tracking boxes on shelves. It’s at the heart of your cost structure, your pricing, and your profits. Yet, two of the most common (and costly) inventory costing mistakes are often hiding in plain sight. Let’s break down why these
- [Seamless Lease Accounting Adoption : A Case Study](https://www.hedmanpartners.com/seamless-lease-accounting-adoption-case-study/) - #Client Background A regional contractor approached Hedman Partners LLP to assist in the adoption of ASC 842, Leases. The company had experienced rapid growth over the past several years and now required reviewed financial statements to secure financing for continued growth and expansion. The company maintains fleets of leased vehicles for its employees, leases several
- [Important 2025 Tax Changes: What You Need to Know](https://www.hedmanpartners.com/important-2025-tax-changes-what-you-need-to-know/) - #As we wrap up the year, we want to keep our clients, colleagues, and friends informed about significant tax law changes that may impact your 2025 planning. The recently passed One Big Beautiful Bill Act (OBBBA) brings several updates affecting both individuals and businesses: Key Highlights: For Individuals: SALT Deduction: Increased to $40,000 (with phase-downs for
- [Protect Your Intellectual Property with a Legally Sound Agreement](https://www.hedmanpartners.com/protect-your-intellectual-property-with-legally-sound-agreement/) - #One of the costliest — yet easily prevented — disasters for any business is the failure to secure ownership of its intellectual property (IP). Under the law, ownership of copyrights and inventions may actually belong to employees or independent contractors unless there's a legally defensible written agreement to the contrary. U.S. copyright laws, as well
- [QCDs Can Be a Tax-Savvy Move for Seniors](https://www.hedmanpartners.com/qcds-can-be-tax-savvy-move-for-seniors/) - #For some time now, individuals age 70½ and older have been able to transfer funds directly from a traditional IRA to an IRS-approved charity. However, with the enactment of the One Big Beautiful Bill Act (OBBBA) earlier this year, these qualified charitable distributions (QCDs) have become an even tax-savvier way to give to charity. If
- [Transforming Inventory Costing: Manufacturing Case Study](https://www.hedmanpartners.com/manufacturing-case-study/) - #Client Background A manufacturing company approached Hedman Partners LLP with persistent concerns about the accuracy and transparency of their inventory costing. Challenges Before Hedman Partners LLP Engagement 1. Limited systematic cost tracking • Manual processes resulted in missed allocations and inconsistent application of costs. 2. Uncertain overhead rates • Lack of confidence in calculated rates
- [How a Budget Can Contribute to Your Success](https://www.hedmanpartners.com/how-budget-can-contribute-to-your-success/) - #One reason many people disdain the budgeting process is that they associate budgets with restraint — that is, not spending money for something because it's not in the budget. However, if you're calling the shots, you can blow your budget as much as you want on the spending side. And there are times when it's
- [A New Savings Option Will Soon Be Available for Families](https://www.hedmanpartners.com/new-savings-option-will-soon-be-available-for-families/) - #Starting in 2026, Trump Accounts will provide another tax-favored way to save for a child's future. Introduced under the One Big Beautiful Bill Act (OBBBA), these accounts are similar to traditional IRAs, but they're only for U.S. citizens under age 18. Here are answers to some common questions. How Do Trump Accounts Work? Parents of
- [What Sets Our Santa Clarita Valley Accounting Services Apart?](https://www.hedmanpartners.com/what-sets-our-santa-clarita-valley-accounting-services-apart/) - #With years of experience serving the unique needs of growing companies, our team in Valencia, CA delivers personalized solutions, including: Client Accounting and Advisory Services (CAAS) Tax Planning & Compliance Outsourced CFO & Controller Services Business Consulting and Succession Planning Assurance & Audit We understand the challenges that come with rapid growth, tax compliance, and
- [Surprising Challenges Employers May Face](https://www.hedmanpartners.com/surprising-challenges-employers-may-face/) - #Running a business is complex. With employment-related claims and lawsuits on the rise, management must have a basic understanding of numerous federal, state and local laws. Here are three cases that illustrate some employer liability trends. Case 1. Giving a positive reference could cost millions. This court case, involving reference checks about a drug-addicted physician,
- [Domestic R&E Expensing Is Back: What Businesses Need to Know](https://www.hedmanpartners.com/domestic-re-expensing-is-back-what-businesses-need-to-know/) - #The One Big Beautiful Bill Act (OBBBA) rolls back federal income tax rules that required businesses to capitalize certain research and experimental (R&E) expenses. The rollback provision is effective for the 2025 tax year, but it's available only for domestic R&E costs. There's also some retroactive relief for domestic R&E expenses that were capitalized for
- [Need Ideas for Cutting Waste and Boosting Profits? Ask Your Employees!](https://www.hedmanpartners.com/need-ideas-for-cutting-waste-and-boosting-profits-ask-your-employees/) - #Does every single one of your customer support reps fully understand how their department makes money for your business? Is the administrative staff harboring a few bright ideas about how to increase the bottom line? It's easy for employees to view their jobs narrowly and forget that they each contribute to the financial health of
- [New Law Reduces Tax Odds for Gamblers](https://www.hedmanpartners.com/new-law-reduces-tax-odds-for-gamblers/) - #Do you enjoy spending time at the casino or betting on sports? If so, you need to know about a new tax law provision scheduled to go into effect in 2026. The One Big Beautiful Bill Act (OBBBA) more tightly limits the deduction for gambling losses. Dealing Out the Tax Cards There are a few
- [401(k) Plan Issues with New and Former Employees](https://www.hedmanpartners.com/401k-plan-issues-with-new-and-former-employees/) - #How Do We Self-Correct a Failure to Enroll a New Employee in Our Automatic 401(k) Plan Contributions? Question: Our 401(k) plan satisfies the nondiscrimination safe harbor under the Internal Revenue Code by requiring an automatic deferral of 3.5% for each new employee who doesn't affirmatively elect a different percentage (or zero), and by providing a
- [Create a Workplace Safety Program, No Matter What Your Business Does](https://www.hedmanpartners.com/create-workplace-safety-program-no-matter-what-your-business-does/) - #If you're a contractor, manufacturer or another type of business that deals with hazardous materials, you're probably already mindful of the legal and practical steps you need to take to safeguard your employees and facilities. On the other hand, if your working environment is a typical office, you might assume you're largely off the hook
- [Federal Tax News for Individuals](https://www.hedmanpartners.com/federal-tax-news-for-individuals/) - #Don't wait till the last minute If you requested an extension to file your tax return after the April 15, 2025, due date, the extended deadline is Wednesday, Oct. 15. If you have the information you need, you may want to file now. There's no advantage to waiting, and last-minute filing may lead to worry.
- [You May Want to Separate Real Estate Assets from Your Business](https://www.hedmanpartners.com/you-may-want-to-separate-real-estate-assets-from-your-business/) - #Many companies choose not to combine real estate and other assets into a single entity. Perhaps the business fears liability for injuries suffered on the property. Or legal liabilities encountered by the company could affect property ownership. But there are valid and potentially beneficial tax reasons for holding real estate in a separate entity as
- [How the QSB Stock Sale Rules Have Become More Favorable](https://www.hedmanpartners.com/how-the-qsb-stock-sale-rules-have-become-more-favorable/) - #Qualified small business (QSB) stock has received very favorable federal income tax treatment for many years. Starting in 2025, the One Big Beautiful Bill Act (OBBBA) enhances the QSB rules even more. Here's what you need to know to take advantage of this tax-saving opportunity. What's Special About a QSB Corporation? QSB corporations are a
- [A Good PR Firm Can Help with More Than Just a Crisis](https://www.hedmanpartners.com/good-pr-firm-can-help-with-more-than-just-crisis/) - #Public relations (PR) professionals sometimes get a bad rap. They're "spin doctors" who help explain away the bad behavior of celebrities and the über wealthy, right? Not exactly. Having a trustworthy PR consultant on speed dial can help your business fine tune its marketing strategies, better communicate with staff and, well yes, be of critical
- [Develop a Strong Hand to Negotiate Loan Covenants](https://www.hedmanpartners.com/develop-strong-hand-to-negotiate-loan-covenants/) - #If you're about to ask for a business loan, expect to deal with the issue of covenants — constraints lenders impose on your company to keep it operating within specified financial ratios and to prevent it from taking certain actions. These clauses are meant to help the lender mitigate risk and get its money back.
- [The ABCs of 529 Plans and ABLE Accounts under the OBBBA](https://www.hedmanpartners.com/the-abcs-of-529-plans-and-able-accounts-under-the-obbba/) - #Section 529 plans are most commonly used as a tax-favored way to save and pay for college expenses. You might be reluctant to open a 529 account for your child because you're not sure he or she will pursue a college degree. Or maybe you're too focused on paying tuition for an expensive K-12 school
- [Looking for a Business Loan? Be Prepared](https://www.hedmanpartners.com/looking-for-business-loan-be-prepared/) - #If you're building up a small business but haven't yet needed to borrow funds to expand or smooth out cash flow irregularities, you're doing something right. Or if you have borrowed and everything went smoothly, kudos again. Otherwise, keep in mind that anticipating the need for credit well in advance will put you in a
- [Seven Ways Supervisors Can Hit the Target on Communication](https://www.hedmanpartners.com/seven-ways-supervisors-can-hit-the-target-on-communication/) - #Successful supervisors know how and when to be assertive. They communicate their needs in a way that earns them respect and gets results. Let's say your company needs a big budgeting project completed by the end of the week. Here are seven strategies that can help a supervisor communicate effectively, hit the deadline and get
- [Unwrap the New Tax Rules for Charitable Donations](https://www.hedmanpartners.com/unwrap-the-new-tax-rules-for-charitable-donations/) - #The holiday season is right around the corner, and that's when many charitably inclined people start to think about year-end donations to their favorite charities. When planning your charitable contributions, don't forget about the potential tax breaks for your generosity. The tax rules for these breaks have changed somewhat under the One Big Beautiful Bill
- [What Is Surprise Billing and How Does It Affect Health Plans?](https://www.hedmanpartners.com/what-is-surprise-billing-and-how-does-it-affect-health-plans/) - #Question: What is surprise balance billing? And what does our group health plan have to disclose about it? Answer: Balance billing occurs when a provider bills a covered individual for charges disallowed by the plan because the charges exceed the plan's allowed amount. It occurs only with out-of-network providers since in-network providers have agreed to
- [Spouses Are Guilty Until Proven Innocent](https://www.hedmanpartners.com/spouses-are-guilty-until-proven-innocent/) - #When you got married, you knew it was for "better or worse." But you might not know about laws that hold you responsible if your spouse cheats on a tax return. Married couples filing jointly should be aware that: You are both responsible for tax, interest and penalties — even after a divorce or the
- [New Tax Rules Have Been Set: Start Planning Now](https://www.hedmanpartners.com/new-tax-rules-have-been-set-start-planning-now/) - #Individual taxpayers faced significant tax planning uncertainty for the first six months of the year. Many provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) were scheduled to expire at the end of this year. However, after the One Big Beautiful Bill Act (OBBBA) became law in July, the federal tax rules for
- [QBI Deduction: How the OBBBA Improves the Rules](https://www.hedmanpartners.com/qbi-deduction-how-the-obbba-improves-the-rules/) - #Many owners of pass-through businesses and self-employed individuals have taken advantage of the Section 199A qualified business income (QBI) deduction. Created by the Tax Cuts and Jobs Act (TCJA), this break was scheduled to expire after 2025, making its future uncertain and hampering tax planning. The tax and spending legislation known as the One Big
- [Investigate Zoning Laws Before Committing to a Location](https://www.hedmanpartners.com/1611-2/) - #Location, location, location. You know how important it is for your company. That's why when establishing a new location, whether because you're launching a new business or expanding or relocating an existing one, you've got to research factors such as foot traffic, vehicle traffic and occupancy rates of the neighboring buildings. But if you don't
- [Take Aim at Targeted Worker Tax Credits](https://www.hedmanpartners.com/take-aim-at-targeted-worker-tax-credits/) - #If your business is picking up steam, you may be looking to expand your workforce to meet the demand. Here's a practical idea: Hire employees who qualify for the Work Opportunity Tax Credit (WOTC). The credit is available for workers who represent one of the "target" groups specified by law. There's no limit on the
- [Crunch the Numbers Before Signing a Lease](https://www.hedmanpartners.com/crunch-the-numbers-before-signing-lease/) - #Prudent businesses often choose to lease rather than buy equipment, vehicles and facilities. Leasing can be advantageous but the type of agreement you sign is important. When presented with lease options, you'll find the ones with the longest terms are generally the cheapest. But you might want to opt for a short-term version instead. Why?
- [3 New Tax Breaks for Individuals](https://www.hedmanpartners.com/3-new-tax-breaks-for-individuals/) - #The One Big Beautiful Bill Act (OBBBA) introduces three potentially valuable tax breaks for individual taxpayers that weren't previously available. And you don't have to itemize deductions to take advantage of them. Do you qualify? Read on and find out. 1. Deduction for Some Tip Income: The Basics Before the OBBBA, tip income was fully
- [Capture the Intellectual Property of Retiring Employees](https://www.hedmanpartners.com/capture-the-intellectual-property-of-retiring-employees/) - #How many Baby Boomer employees (those born between 1946 and 1964) will be leaving your organization in the next five years? When retiring employees clear out their desks and walk out the door for the last time, they often leave with fond memories — as well as vast amounts of intellectual property stored in their
- [Controlled Chaos is Still Chaos - Why Partnering with a CAAS Professional is the Smart Option](https://www.hedmanpartners.com/controlled-chaos-is-still-chaos-why-partnering-with-caas-professional-is-the-smart-option/) - #Most business owners these days are finding they are being pulled in several different directions at once. Add in the financial constraints and worries with the current economic concerns and engaging a new professional seems overwhelming. However, Client Accounting and Advisory Services (CAAS) offer a solution, yet many business owners hesitate to make the leap.
- [New Tax Law Includes Major Changes for Homeowners](https://www.hedmanpartners.com/new-tax-law-includes-major-changes-for-homeowners/) - #Several provisions of the One, Big, Beautiful Bill Act (OBBBA), signed into law on July 4, will affect homeowners starting in 2025. These changes are important as you plan for the current tax year, because they may impact whether you itemize or claim the standard deduction. In addition, tax credits for certain energy-efficient home improvements

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## Partners

- [Michael J. Grisanti, CPA](https://www.hedmanpartners.com/partner/michael-j-grisanti-cpa/) - Michael J. Grisanti has nearly 20 years of domestic and international experience in public accounting. He has worked on both publicly traded and privately-held clients in various industries, including manufacturing and distribution and consumer products, as well as employee benefit plan audits. Michael works closely and openly with his clients during all aspects of the
- [Joel Peluffo, CPA, MST](https://www.hedmanpartners.com/partner/joel-peluffo-cpa/) - Joel is our newest Tax Partner at Hedman Partners LLP, where he has served clients and grown with the firm since 2013. Joel brings over 13 years of experience specializing in tax planning and compliance for businesses and individuals across real estate, construction, manufacturing, distribution, and entertainment. He is known for his technical expertise, clear
- [Mike Tonthat, CPA](https://www.hedmanpartners.com/partner/mike-tonthat-cpa/) - Mike specializes in our firm’s core services to middle market businesses and their owners with emphasis on assisting clients plan for and manage their business income tax liabilities. Mike has successfully assisted numerous clients with advanced corporate and individual tax planning, business merger, acquisition and sales consulting, estate planning and succession planning. His expertise includes
- [Janet Thomerson, CPA](https://www.hedmanpartners.com/partner/janet-thomerson-cpa/) - Janet Thomerson has twenty years of public accounting and private industry experience. Janet has extensive experience in employee benefit plan audits and manages all of the firms 401(k) and 403(b) audit engagements. Her public accounting experience also includes preparation of individual, business and fiduciary income tax returns as well as the planning and preparation of
- [Calvin Hedman, CPA & CM&AA](https://www.hedmanpartners.com/partner/calvin-hedman-cpa-cmaa/) - Calvin Hedman has over thirty years of experience as a Certified Public Accountant. As President of Hedman Partners, he is responsible for all aspects of quality assurance and client service. In addition to providing audit and tax services to his clients, Calvin provides consulting expertise in a variety of areas including strategic planning, acquisition due
- [Matthew Sprague, CPA](https://www.hedmanpartners.com/partner/matthew-sprague-cpa/) - Matt Sprague has 15 years of public accounting experience providing hands-on, high quality assurance and accounting services to clients in a variety of industries, including manufacturing and distribution, financial services, nonprofit and technology and media services. Matt has deep expertise in providing audit, review and compilation services to closely held and/or private equity backed middle-market
- [Christopher J. Grodell, CPA](https://www.hedmanpartners.com/partner/christopher-j-grodell-cpa/) - Chris Grodell has over twenty-four years of public accounting experience. Chris strives to minimize tax liabilities and exposures when providing tax compliance and consulting services to clients in a variety of industries, including real estate, media and entertainment, manufacturing, and agriculture. Chris has extensive experience working with partnerships, closely-held businesses and high net worth individuals.

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