Accounting, Bookkeeping, & Tax Blog

The answer is yes, but the path to maximizing this deduction requires careful planning, strict compliance with IRS rules, and a long-term strategy. This gu [...]

Electing S corporation tax status can unlock meaningful savings and signal a new stage of professionalism in your business. It also introduces stricter com [...]

Selecting the optimal entity has numerous benefits and can make a positive impact immediately. For example, small business owners can cut their tax burden [...]

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

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 [...]

When you think of depreciating a tangible asset, you likely picture allocating its cost over its estimated useful life, which can be several years. But wha [...]

Selecting the optimal legal and tax structure for your new business is one of the most consequential decisions you'll make. While there are several options [...]

A well-prepared Schedule C form is the foundation for avoiding common IRS red flags and building a sustainable business. This guide turns each line of Sche [...]