SFW Partners, LLC

SFW Partners, LLC For years, SFW Partners, LLC has been helping our clients continuously improve their business through accounting, auditing, tax and consulting services.

As the cost of gasoline continues to rise, President Trump is calling for a temporary suspension of the federal gas tax....
06/01/2026

As the cost of gasoline continues to rise, President Trump is calling for a temporary suspension of the federal gas tax. Currently, the national tax is 18.4 cents per gallon for gas and 24.4 cents per gallon for diesel. An average of 51 cents in taxes and fees is added to every gallon of gas, with some revenue going to the state levying the tax and the rest to federal coffers. On May 12, 2026, the average price of a gallon of regular gas is $4.50, up from roughly $3.14 a year ago, according to AAA. A cost reduction of 18.4 cents would lower the current average by around 4%. Note that a suspension of the tax requires Congress to pass legislation. Stay tuned.

LLC and LLP owners: Can you deduct your business losses this year? The answer may depend on whether your activity is con...
05/29/2026

LLC and LLP owners: Can you deduct your business losses this year? The answer may depend on whether your activity is considered passive according to the IRS’s passive activity loss rules.

Under these rules, you generally can use passive losses only to offset income from other passive activities. If you meet certain “material participation” criteria, however, you may be able to offset LLC or LLP losses against nonpassive income, such as wages, interest, dividends and capital gains — but the rules can be complex, especially for limited partners.

Contact us for guidance on tracking your participation hours, applying the material participation test and maximizing business loss deductions.

If you donate artwork to charity, the deduction you can claim depends on several factors, including the type of organiza...
05/27/2026

If you donate artwork to charity, the deduction you can claim depends on several factors, including the type of organization receiving the piece and how it will be used. Your deduction will generally be reduced if the charity’s use of the artwork is unrelated to the purpose or function that’s the basis for its qualification as a tax-exempt organization. The reduction equals the amount of capital gain you would have realized had you sold the artwork instead of giving it to charity. Other deduction limits as well as special substantiation and appraisal rules also may apply. If you’re considering donating artwork or other valuable property, contact us for help ensuring the best tax outcome.

Is your business paying for insurance coverage you don’t need — or missing protection where risk may be significant? You...
05/25/2026

Is your business paying for insurance coverage you don’t need — or missing protection where risk may be significant? You may have many options to choose from, depending on your organization’s operations and risks. General liability is the most basic policy, and it’s often paired with product liability, professional liability and property coverage. Other products include employment practices liability, business interruption, key person and cyberinsurance policies. Work with an independent broker to learn more about each type. We can also help you evaluate potential coverage gaps and manage business risk cost-effectively.

For many organizations, the end of the month brings added pressure to finalize financial records accurately and on time....
05/21/2026

For many organizations, the end of the month brings added pressure to finalize financial records accurately and on time. If month-end close processes aren’t properly structured, coordinating information across multiple departments can slow down reporting and increase the risk of errors. Making your month-end close more efficient and manageable starts with establishing consistent workflows and effective review procedures. By refining your procedures and making smart use of available tools, your F&A team can spend less time chasing numbers and more time interpreting them. Contact us for help achieving a faster, more accurate month-end close.

What’s the right accounting method for your business? Public companies are required to use the accrual method, but many ...
05/19/2026

What’s the right accounting method for your business? Public companies are required to use the accrual method, but many private businesses can use the cash method. Cash-basis accounting is simple and can offer some tax planning flexibility. However, as your business grows, the accrual method often provides a clearer view of performance — making it easier to manage cash flow, benchmark results, and work with lenders and other stakeholders. We can help you evaluate whether your current approach still fits and guide you through the transition if a change makes sense. Contact us to evaluate your financial reporting options and help you make an informed decision.

With 2025 in the rear view mirror and the tax filing deadline on the road ahead, it’s a good time for businesses to star...
02/27/2026

With 2025 in the rear view mirror and the tax filing deadline on the road ahead, it’s a good time for businesses to start gathering information about their deductible expenses for 2025. But what’s deductible (and what’s not) might not be as clear-cut as you think. Most business deductions aren’t specifically listed in the Internal Revenue Code (IRC). The general rule is what’s stated in the first sentence of IRC Section 162, that you can write off “all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business.” In addition, you must be able to substantiate the expenses. We can help you determine what you can deduct on your 2025 tax return.

Married couples have a choice when filing their 2025 federal income tax returns. They can file jointly or separately. Wh...
02/26/2026

Married couples have a choice when filing their 2025 federal income tax returns. They can file jointly or separately. What you choose will affect your standard deduction, eligibility for certain tax breaks, tax bracket and, ultimately, your tax liability. Typically, filing jointly saves tax compared to filing separately. This is especially true when the spouses have different income levels. Combining two incomes can bring some of the higher-earning spouse’s income into a lower tax bracket. Also, some tax breaks aren’t available to separate filers. But filing separately may save tax when one spouse has significant medical expenses. Contact us to discuss your particular situation.

Last year’s One Big Beautiful Bill Act placed a new floor under the deductibility of charitable contributions. Beginning...
02/26/2026

Last year’s One Big Beautiful Bill Act placed a new floor under the deductibility of charitable contributions. Beginning in 2026, if you itemize, you may deduct only the amount of donations that, in aggregate, exceeds 0.5% of your adjusted gross income. The new rule may make donor-advised funds (DAFs) more attractive. You claim a charitable deduction in the year you make gifts to your DAF. You generally can recommend awarding grants to selected charities at your own pace, even if the grants aren’t released for years. A DAF can help you execute a “bunching” strategy, donating in alternating years to reduce the impact of the floor. Contact us to learn more.

The IRS is reminding taxpayers of new deductions available this tax season. If you’re 65 or older, you potentially can c...
02/24/2026

The IRS is reminding taxpayers of new deductions available this tax season. If you’re 65 or older, you potentially can claim an additional $6,000 deduction. Depending on your occupation, you may be able to deduct up to $25,000 in qualified tips. You may also be able to deduct up to $12,500 in qualified overtime ($25,000 if you’re married and file jointly). If you took out a vehicle loan in 2025, you possibly can deduct up to $10,000 in interest paid. But all these breaks are subject to additional rules, and they phase out when income exceeds applicable limits. If you’re eligible, you can claim these deductions whether you itemize or take the standard deduction. Contact us with questions.

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1610 Des Peres Road, Suite 300
Des Peres, MO
63131

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Wednesday 9am - 5pm
Thursday 9am - 5pm
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