Accounting, Bookkeeping, & Tax Blog

An S corp allows owner-employees to split income between salary and distributions. Salaries are still subject to payroll taxes, but distributions generally [...]

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 [...]

The general ledger is the master record of every financial transaction you make as part of your business. Every time money changes hands, there should be a [...]

Maximizing every eligible tax credit and deduction, including QBI, is an essential business practice. Because this deduction was supposed to sunset after 2 [...]

Whether you're considering hiring employees or have already extended job offers, it's essential to understand your payroll obligations, which include payro [...]

Converting your California small business entity to an S corporation is a great decision that provides numerous advantages, but it requires more formalitie [...]

Getting depreciation right is crucial for your small business, as it directly reduces taxable income and impacts your cash flow. Use this guide to learn ho [...]

Many small business owners are surprised to discover that their tax bill doesn’t always match the cash they received. If you’re a partner in a partnership [...]

Both offer liability protection and unique tax advantages, but they diverge significantly in terms of ownership structure, management complexity, and growt [...]