Performance Tax Group

If your business sponsors a retirement plan, July 31st may be an important date. Calendar-year plans generally must file Form 5500 or Form 5500-EZ by July 31, 2026, unless an extension is filed.

Missing this filing can lead to costly penalties, so it's a good time to confirm your plan's compliance requirements and ensure everything is submitted on time.

Not sure if your retirement plan requires a filing? PTG can help you stay compliant and avoid surprises. 📋✅

If you own a pass-through business, this is one tax break you do not want to overlook. 👀

Arkansas now allows a Qualified Business Income deduction for eligible pass-through businesses, which means you may be able to deduct up to 20% of qualified business income for Arkansas income tax purposes. That could mean real savings and more room in your budget for growth, payroll, or whatever your business needs next. 💸

But listen up—here's the important part: not every business owner qualifies the same way, and not all income counts toward QBI. That's why it's worth taking a closer look before you assume you're getting the full benefit. ✅

The tip here? A mid-year review is a smart time to check whether your business structure and tax strategy are set up to make the most of it. And if you're not sure how it applies to you, we are happy to help. 🤝