Geiger Tax & Accounting · Blog
Tax Tips
27 guides in Tax Tips.
The Step-Up in Basis: Why Your Heirs Won't Owe a Dime on Decades of Business Growth
When you die, your heirs inherit your business at today's fair market value — not what you paid for it. Here's what that means for capital gains.
Tax TipsYour Opportunity Zone Deferral Expires December 31, 2026 — Even If You Haven't Sold a Thing
You invested in a Qualified Opportunity Fund. That deferred capital gain must be recognized by December 31, 2026. Here's what to do before year-end.
Tax TipsYou Own the Building. You Rent It to Your Business. The IRS Has a Trap for That.
If you own your building and rent it to your own business, the IRS applies a rule that traps your losses and taxes your income. Here's how to fix it.
Tax Tips72.5 Cents Per Mile or Track Every Receipt: The Vehicle Deduction Decision You Can't Take Back
The 2026 IRS mileage rate is 72.5 cents per mile. But the method you choose in year one follows the car for life — here's how to pick the right one.
Tax TipsYou Have an Airbnb. Here's How the IRS Actually Taxes It.
Short-term rentals aren't taxed like regular rentals. Schedule E, Schedule C, the 7-day rule — here's what Airbnb and VRBO hosts actually need to know.
Tax TipsNew Car Loan Interest Deduction: What Business Owners Need to Know Before They Claim It
New $10,000 auto loan interest deduction for US-made vehicles: how it interacts with the business vehicle write-off for owners.
Tax TipsYou Don't Have to Hand the IRS a Six-Figure Check the Year You Sell Your Business
Taking the cash upfront when you sell can push your entire gain into the top bracket. An installment sale spreads it over years — but there's one catch.
Tax TipsYou're Halfway Through 2026. Here Are 5 Tax Moves to Make Before September.
Most business owners only think about taxes in April. Here are five moves to make now that can actually lower what you owe this year.
Tax TipsThe 0% Capital Gains Rate Is Real — and Most Business Owners Never Use It
In 2026, married couples can sell appreciated investments at zero federal capital gains tax if taxable income stays under $98,900. Here's how it works.
Tax TipsMarried Filing Jointly vs. Separately: What Business Owners Actually Need to Know
MFJ saves most couples money. But for business owners, three specific scenarios flip the math — and most people never check.
Tax TipsYour Business Had a Loss. Here's How the IRS Lets You Use It — and Where It Stops.
Net operating losses carry forward indefinitely, but you can only use 80% of taxable income per year. Here's what that means for your future tax bills.
Tax TipsNew York Business Owners Got a SALT Break This Year. Most of Them Are Still Missing the Better Move.
The SALT cap jumped from $10K to $40,400 in 2026. But for NY S-Corps and partnerships, New York's PTET often beats it — and most owners haven't elected it.
Tax TipsThe Home Office Deduction: What Self-Employed Owners Can Actually Claim — and What Kills It
Work from home as a sole proprietor? Part of your rent and utilities is deductible. How the home office deduction works and what disqualifies it.
Tax TipsThe 1031 Exchange: How Real Estate Investors Defer a Tax Bill That Would Otherwise Run Six Figures
Roll investment property proceeds into a new property and defer the capital gains tax. Here's how a 1031 exchange works and where investors blow it.
Tax TipsCost Segregation: How Business Property Owners Cut Decades Off Their Depreciation Schedule
A cost segregation study can reclassify 20–40% of a commercial building's cost into shorter-lived property, generating six-figure first-year deductions.
Tax TipsYou Wrote It Off at 100%. Now You're Selling It — Meet Depreciation Recapture.
Wrote the truck off at 100%? When you sell it or business use drops below 50%, the IRS recaptures that depreciation as ordinary income. The math.
Tax TipsThe IRS Will Cover Up to $5,000 a Year of the Cost of Setting Up Your Team's Retirement Plan
Have employees? SECURE 2.0 covers up to 100% of the cost of starting a retirement plan — $5,000 a year for three years — plus a contribution credit.
Tax TipsYou Can Deduct the Money You Spent Before the Business Even Opened
Spent money getting a business off the ground? Up to $5,000 of startup costs is deductible year one — and the rest isn't lost, it's amortized.
Tax TipsWriting Off Business Travel: What You Can Actually Deduct — and What Gets the Trip Thrown Out
Transportation and lodging are 100% deductible, meals 50% — but only if the trip is really for business. The real rules on business travel write-offs.
Tax TipsWhy Your Rental Losses Are Trapped — and the Two Ways to Free Them
Rental losses can wipe out other income, but passive-activity rules usually lock them up. Here are the only ways to actually use them against your W-2.
Tax TipsWriting Off a Business Vehicle: The 6,000-Pound Rule and the Luxury-Car Trap
How to actually write off a business vehicle in 2026 — the 6,000-lb GVWR rule, the luxury-car caps, and mileage vs. actual, with the real dollar math.
Tax TipsThe Long Island Small Business Owner's Year-Round Tax Checklist
Bookkeeping, quarterly estimates, entity choice, and planning — the year-round tax habits that keep Long Island small business owners out of trouble.
Tax TipsQuarterly Taxes for NYC Freelancers and Creators: A No-Panic Guide
1099 income, quarterly estimates, deductions, and when an S-corp makes sense — a calm, practical tax guide for NYC freelancers and creators.
Tax TipsThe Augusta Rule: Rent Your Home to Your Own Business for Up to 14 Tax-Free Days
Rent your home to your own business up to 14 days a year and the rent is tax-free to you, deductible to the business. The rules, limits, and math.
Tax TipsFiling a Tax Extension Isn't a Red Flag — It's Often the Smart Move
An extension buys six more months to file — not to pay. What it actually does, what it doesn't, and why smart business owners use one on purpose.
Tax TipsTax Planning Is Not Tax Preparation
Your preparer files the return. A planner sees April coming in October. The difference — and why it matters most for business owners.
Tax Tips100% Bonus Depreciation Is Permanent Again: What It Changes for 2026 Equipment Buys
100% bonus depreciation is permanent again under the OBBBA. What qualifies, how it pairs with Section 179, and the acquisition-date trap to watch.