An Overview of Modified Cash Basis: Should You Use It?

Use this critical guide to finding accumulated depreciation for your small business, along with real-world accumulated depreciation examples, tips, and actionable insights sure to modernize your inter…

What Is a 1099-K? A Guide to the New Rules for 2025

While you may have heard mention of an "LLC tax rate," the reality is that there is no single rate. Instead, owners and entrepreneurs layer federal income tax, self-employment tax, state levies, and e…

Running your business as an S corporation usually indicates that you wear many hats. You might understand the benefits of pass-through taxation while embracing reasonable salary strategies, but few to…

This essential guide will walk you through the fundamentals, advanced strategies, and potential audit-proofing steps you need to keep more of your earnings while staying on the right side of IRS rules…

Owner distributions are more than a simple transfer of cash from business to owner; they are a strategic lever that, when pulled correctly, rewards your hard work while safeguarding long‑term growth. …

How to Pay Yourself as a Sole Proprietor: A Guide

As an S corp owner, it's essential to master the art of paying yourself properly. Should that extra cash hit your personal bank account as an S corp shareholder bonus or as a distribution? That single…