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’ [...]
Getting this wrong can lead to missed tax savings, or worse, penalties and increased IRS scrutiny. However, when handled correctly the S corp structure off [...]
At a high level, the main distinction between a partnership and a corporation lies in legal separation. A corporation is a distinct legal entity separate f [...]
There are numerous benefits and strategic advantages of establishing your business as an LLC in California. The state offers a large workforce, diverse ind [...]