The BEAT (Base Erosion and Anti-Abuse Tax) was enacted in 2017 to discourage U.S. and foreign companies from evading their tax obligations by shifting their profits out of the United...
The home office deduction is one of the most popular tax deductions for those who work from home. Once you understand how to record, calculate, and report home office expenses, you...
Posted by Taxes Made EZ Inc on 12/18/2022
Partnerships should use Schedule K-1 tax forms to distinguish partnership income from owners' income. By doing this, your business will more likely avoid the $54,171 tax penalties...
Posted by Taxes Made EZ Inc on 11/17/2022
Handling divorce and everything that concerns the situation is never easy, so the tax implication will likely be the last thing on your mind. Divorce affects a person emotionally,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/07/2022
For a small business owner, tax season can be stressful, and the prospect of paying a large sum of money to the government is not really a pleasant one. That's why small business...
Posted by Pat Raskob on 09/30/2022
Accumulated earnings and profits (E&P) are the earnings accumulated by a company after the payment of dividends to shareholders. It measures a company's ability to pay cash...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 04/09/2022
As a new start-up entrepreneur, deductions can be accommodated. However, deductions are not rigid, they tend to undergo metamorphosis, and a deduction does not even remain forever....
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/24/2022
Those who cannot withhold federal taxes from each paycheck must pay taxes quarterly.United States income tax operates on a pay-as-you-go system, in which the federal government collects...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 11/11/2021
An S corporation, or sometimes referred to as S subchapter or S Corps, is a type of incorporated legal business entity. An S corporation has a similar business structure to a limited...
Posted by Pat Raskob on 07/17/2021