Accounting, Bookkeeping, & Tax Blog

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

Whether you're considering establishing your business in the state of California, have just launched, or are celebrating your first year in business, it's [...]
Under this legislation, qualifying overtime workers can now deduct up to $12,500 of their overtime earnings from their taxable income ($25,000 for joint fi [...]
The recently signed "One Big Beautiful Bill Act" will have a significant impact on tax strategies and financial planning for small businesses operating in [...]
Under this new provision, tipped workers can deduct up to $25,000 of qualified tips from their taxable income. This applies to both employees, who typicall [...]
Unlike traditional corporations, pass-through entities avoid double taxation. Instead of taxing business income at the corporate level, the IRS requires th [...]
Whether you manage a single property or a portfolio, every landlord should have a foundational understanding of rental income, associated taxes, and strate [...]
Before transferring money from your business account to your personal account, it's essential to understand how draws work and how they compare to salaries [...]
The QBI deduction, also known as the Section 199A deduction, allows eligible small business owners to deduct up to 20% of their qualified business income o [...]
LLC owners can opt to be taxed in different ways, and each tax structure has its own set of rules. Owner’s draws, guaranteed payments, salaries, and distri [...]
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