Whether you’re an employee of your corporation or a self-employed individual, it’s likely that your tax bill for Social Security and Medicare taxes … Read more about Preparing for Social Security and Medicare Taxes for 2025
What Should Congress Do About the QBI Deduction?
The qualified small business income (QBI) deduction, created by the Tax Cuts and Jobs Act of 2017 as a way for owners of pass-through entities to get … Read more about What Should Congress Do About the QBI Deduction?
What Is the Pass-Through-Entity-Tax and Who Does it Benefit?
The pass-through entity tax (PTET) is a way for owners of pass-through entities—partnerships, limited liability companies, S corporations—to gain … Read more about What Is the Pass-Through-Entity-Tax and Who Does it Benefit?
5 Tax Rules that May Surprise You
It’s probably no great revelation to learn that taxes are complicated. As a consequence, most small business owners rely on tax professionals, at … Read more about 5 Tax Rules that May Surprise You
Surprised by Tax Penalties? How to Get Relief
The IRS has a slew of penalties that may be imposed for doing something wrong, doing something late, or failing to do what you should have done: … Read more about Surprised by Tax Penalties? How to Get Relief
Mid-Year Tax Planning Musts for Your Business
Tax planning may not be your favorite activity, but it’s one that can put money in your pocket. The decisions you make now and execute before the end … Read more about Mid-Year Tax Planning Musts for Your Business
5 Great Tax Shortcuts to Save You Time and Effort
Taxes and the related chores—recordkeeping, filing, and paying—are perhaps the least favorite things for a business owner to do. Still, they’re … Read more about 5 Great Tax Shortcuts to Save You Time and Effort
Multiple Businesses with Common Ownership: Tax Rules You Need to Know
Entrepreneurs may not be content with owning a single business. They may have two or more companies going at the same time. They may own some or all … Read more about Multiple Businesses with Common Ownership: Tax Rules You Need to Know
Tax Proposals Impacting Small Business: Be Very Afraid
A deficit occurs when the federal government’s spending exceeds its revenues. The federal government has spent $1.06 trillion more than it has … Read more about Tax Proposals Impacting Small Business: Be Very Afraid
Find Out What IRS Data Reveals About Small Businesses
For many people, tax filing is becoming a distant memory for this year; April 15 has passed. But taxes are year-round for business owners. They deal … Read more about Find Out What IRS Data Reveals About Small Businesses
What to Know About Trust Fund Taxes
If you’ve incorporated your business or formed a limited liability company, you may have the belief that you can’t be personally liable for your … Read more about What to Know About Trust Fund Taxes
5 Last-Minute Tax Tips for Owners of Pass-Throughs
Like December 7, April 15 for many is “a date which will live in infamy.” It’s Tax Day in most of the U.S. Calendar-year partnerships and S … Read more about 5 Last-Minute Tax Tips for Owners of Pass-Throughs
5 Things to Know About Tax Credit Transfers
Tax credits typically are claimed on tax returns and may be limited to the extent of your tax liability. New rules may allow you to get the benefit … Read more about 5 Things to Know About Tax Credit Transfers
What Audit Technique Guides Can Tell You
Audit Technique Guides (ATGs) are online publications that help IRS examiners during audits by providing insight into issues and accounting methods … Read more about What Audit Technique Guides Can Tell You
Ramifications of Doing Gig Work and Side Hustles
Gig work is temporary or freelance work performed by an independent contractor on an informal or on-demand basis. Side hustles are work performed for … Read more about Ramifications of Doing Gig Work and Side Hustles
