Does Your Business Qualify for a 20 Percent Tax Deduction?
The 20 percent tax deduction under new 2018 tax code Section 199A is a nice tax break for business owners, [...]
How to Get Out of an IRS Penalty
You hate IRS penalties, right? Everyone does! There are a lot of strategies we can use on your behalf to [...]
Pass Through Entities and the Tax Cuts and Jobs Act
Pass through entities include, LLCs, partnerships, S Corporations and sole proprietorships. It means that profits and losses from the business [...]
Five Tips For Hiring a Quickbooks Consultant
So, you have gotten your business up and running and have decided to hire a Quickbooks Consultant. What should you [...]
Four Types of Employees and How to Pay Them
The IRS Schedule C (Form 1040), which is titled Profit or Loss from Business is mainly used by self-employed individuals [...]
How Do You Really Know If Its Really IRS Calling
Telephone scams have been on the “Dirty Dozen” list of the IRS for some time now. The following adage is [...]
Virtual Currency FAQs
The use of virtual currencies have become more widespread in today’s economy. According to the IRS, a virtual currency is [...]
Differences Between Exemptions, Credits, and Deductions
Knowing the difference between an exemption, a credit and a deduction, can be confusing. In this article, we are going [...]
Key Legislative and Regulatory Changes to Affect Small Businesses in 2018
Will your business be impacted by legislative reforms and regulatory changes in 2018? This list of the most significant changes [...]
Calculating Your Tax Deduction on Qualified Business Income
As you know, new tax code Section 199A offers a 20 percent tax deduction on your qualified business income—if you [...]