Accounting, Bookkeeping, & Tax Blog

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 [...]

Running a successful beauty business requires more than just talent with scissors and styling tools—it demands smart financial management that maximizes ev [...]

For small business owners, understanding tax evasion penalties can mean the difference between growth and devastating financial setbacks that disrupt your [...]

Running a small business in the state of Wisconsin is an exciting prospect that comes with unique tax considerations that can significantly impact your bot [...]