The QBI (qualified business income deduction) allows individuals to deduct up to 20% of business income, REIT dividends, or PTP income from personal income tax returns. Those who are...
Many small business owners might have no idea what a payroll tax is. This article will explore what you need to know about IRS schedule SE whenever you start a business. Payroll...
Everyone wants to cut taxes, but sometimes people try too hard. Over the years, taxpayers have presented many foolish arguments to justify their tax incentives. We had put together...
Posted by Elliot Kravitz, ATP on 06/11/2020
As a home business owner, you can make several tax deductions related to the cost of running your business, including expenses incurred to run your business from a home office. There...
Posted by Carmen Garcia on 05/17/2020
It is best to learn the tax rules, benefits and risks before you consider lending money between family members. Doing so have two consequences either beneficial or a disaster.But,...
When it comes to tax treatment, there is a difference between unreimbursed business expenses for partners and S corporation shareholders. Also known as ordinary and necessary expenses,...
Posted by Elliot Kravitz, ATP on 04/17/2019
While assessing your tax or working with a tax preparer or accountant, there is this sense of limiting your tax obligation by ensuring you claim the most significant measure of deductions...
Posted by YourIRSTaxAdvocate.com on 02/27/2019
What is an Independent Contractor?Independent contractor or a freelancer is a person or entity contracted to perform work or provide services to another entity, but not as an employee....
Posted by Duce Taxes & Accounting on 11/14/2018
Are you operating one single “owner” company or a member limited liability company? Thinking of making some multi-member LLC? In both ways, you are likely to face questions...