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How One Small Company Found Its Opening and Disrupted an Entire Industry in the Process
Business Success Stories
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If you had to make a list of some of the fastest-growing industries in the United States, activewear would undoubtedly be on it.It's a field that is made up of a few different categories: athletic clothing, swimwear, yoga items and footwear, to name a few. According to one recent study, the industry was worth about $354 million in 2020. By as soon as 2026, that number is expected to grow by an impressive 25%.Yes, some of this can be attributed to the impact of the COVID-19 pandemic. People suddenly found themselves stuck in their homes and were looking for any opportunity to get outdoors; physical fitness was just as good as any. But there's also been an increasing trend over the last decade of people taking more accountability in terms of their health and well-being, and an entire industry has benefited during the process.It's also an incredibly competitive marketplace, with new organizations cropping up all the time. At this point, you'd think that there wasn't room for new companies and that every possible niche had already been exploited.You'd think that, but you'd be wrong.Enter: VuoriFlashing back to 2015, entrepreneur Joe Kudla decided to create a new company based on a significant gap that he saw in the activewear industry.Roughly 10 years prior, he was experiencing significant back pain, and after trying a variety of different methods for relief, he ended up turning to yoga to ease his pain. The issues themselves stemmed from a lifetime of playing everything from football to lacrosse. Even after his problems were resolved, he still found that he loved yoga on a conceptual level.Around the same time, he watched other activewear companies like Lululemon become enormously successful, but there was a catch. Almost all of these brands catered mainly to women, as that is who was seen to be the primary audience. Some of them offered yoga clothing for men, but to him it always came off as an afterthought.With that simple realization, an idea was born.Joe Kudla got to work on the organization that would eventually become Vuori. It was inspired not only to give men similar options to those that had always been available to women, but also by where he lived in Southern California. The place where he was living at the time was a big beach community, and he wanted to bring a "surf-inspired DNA" into the world of performance clothing.Kudla had a hunch that he had identified a woefully underserved part of the activewear marketplace... and he was absolutely right. After a somewhat slow start in 2015, the company became profitable just two years later in 2017. Earlier in 2021, the company was able to raise $400 million from the Vision Fund, which valued the company at an incredible $4 billion at the same time.All this from someone who ultimately just wanted to be more comfortable while practicing yoga.
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Tax and Financial Insights
by NR CPAs & Business Advisors
2026 IRS Mileage Rates: Key Updates and Insights
The IRS has rolled out the inflation-adjusted mileage rates for 2026, offering taxpayers an efficient way to claim deductions for vehicle-related expenses incurred for business, charity, medical, or moving purposes. These adjustments reflect the continued economic shifts impacting car operation costs.
Effective January 1, 2026, the new standard mileage rates are established as follows:
- Business Travel: Increased to 72.5 cents per mile, inclusive of a 35-cent-per-mile depreciation allocation. This marks a rise from the 70 cents per mile rate set for 2025
- Medical/Moving Purposes: Reduced slightly to 20.5 cents per mile, down from 21 cents in the previous year, reflecting the variable cost considerations.
- Charitable Contributions: Consistent at 14 cents per mile, a fixed rate unchanged for over a quarter-century.
As is typical, the business mileage rate considers the integral fixed and variable costs of automobile operation. Meanwhile, the medical and moving rates remain contingent on variable expenses as determined by the IRS study.
It is critical to note that the One Big Beautiful Bill Act (OBBBA) held firm on disallowing moving expense deductions except for specific cases within the Armed Forces and intelligence community, marking a substantial shift since 2017.
When engaging in charitable work, taxpayers might opt for a direct expense deduction over the per-mile method, covering gas and oil costs. However, comprehensive upkeep and insurance costs are non-deductible expenses.
Business Vehicle Use Considerations: Taxpayers can alternatively compute vehicle expenses using actual costs, which might benefit from shifting depreciation rules, particularly through bonuses and first-year advantages. Keep in mind, however, reverting from actual cost calculations to standard rates in subsequent years is restricted, particularly per vehicle protocol and when exceeding four vehicles in concurrent use.
Additionally, parking, tolls, and property taxes attributable to business can be deducted independently of the general rate, an often-overlooked advantage by many business owners.
Tax Strategies for Employers and Employees: Reimbursements based on the standard mileage framework, providing the right documentation is in place, remain tax-free for employees. Meanwhile, the elimination and continued prohibition of unreimbursed employee deductions continue, with particular exceptions offered to qualified personnel across specific occupations.
Opportunities for Self-employed Individuals: Entrepreneurs remain eligible for deductions on business-related vehicle use via Schedule C, with potential to account for business-use interest on auto loans.
Heavy SUVs and Deduction Advantages: Heavier vehicles exceeding 6,000 pounds but under 14,000 pounds open opportunities for substantial tax deductions through Section 179 and bonus depreciation avenues. The lifecycle of such a vehicle bears implications on recapturing initially claimed deductions, urging cautious tax planning.
For professional guidance on optimizing your vehicle-related tax deductions and understanding their implications on tax strategies, contact our office in Coral Gables, Florida, where expert advice and strategic insights are just a call away.
Educator's Deduction Reform: Key Changes Under OBBBA
The One Big Beautiful Bill Act (OBBBA) introduces significant enhancements for educators' tax deductions starting in 2026, offering both strategic opportunities and planning considerations for educators who qualify. With the reinstated itemized deduction for qualified unreimbursed expenses, educators have a broader spectrum of financial relief. This is complemented by the retention of the $350 above-the-line deduction, allowing educators to maximize their tax benefits by selectively allocating expenses between these avenues.
Understanding the nuances of these changes is crucial for educators and financial advisors alike. The dual-option deduction strategy can potentially enhance tax efficiency, thereby aligning with broader financial planning goals.
At NR CPAs & Business Advisors, based in Coral Gables, Florida, our expertise in tax preparation and planning provides invaluable support to educators navigating these changes. Our comprehensive approach, combined with personalized advice from our experienced team, ensures compliance and optimization in line with the latest tax legislations.
Given these updates, it is imperative to engage with seasoned professionals to fully leverage your deduction strategies. Contact us today to streamline your tax planning under OBBBA's new guidelines and maximize your deductions for upcoming tax years.
