Accounting, Bookkeeping, & Tax Blog

Your small business resource for accounting, bookkeeping, and taxes from our experts.

The answer is yes, but the path to maximizing this deduction requires careful planning, strict compliance with IRS rules, and a long-term strategy. This gu [...]
Electing S corporation tax status can unlock meaningful savings and signal a new stage of professionalism in your business. It also introduces stricter com [...]
Selecting the optimal entity has numerous benefits and can make a positive impact immediately. For example, small business owners can cut their tax burden [...]
Maximizing every eligible tax credit and deduction, including QBI, is an essential business practice. Because this deduction was supposed to sunset after 2 [...]
Many entrepreneurs reach a point where self-employment taxes cut too deeply into profits, which is when the S corp election becomes a smarter financial mod [...]
Introduced under the Tax Cuts and Jobs Act of 2017, it allows eligible taxpayers to deduct up to 20% of their QBI component, reducing taxable income and po [...]
Understanding how to take money out of your LLC without triggering unexpected tax liabilities can be complex. This excellent guide demystifies LLC distribu [...]
This guide breaks down what assets, liabilities, and equity really mean for your business, how they shape your balance sheet, and how to use them as a deci [...]
This entity offers a powerful way to save on self-employment taxes while still being shielded by limited liability protection. But before you dive in, you’ [...]
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