Accounting, Bookkeeping, & Tax Blog

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 [...]