4 min read
Dispelling 10 Federal Tax Myths and Misconceptions
In the complex world of federal taxes, myths and misconceptions can lead to costly mistakes and missed opportunities — especially for business owners...
Accounting and payroll resources for small business owners.
Easily filter through articles and find what you want to learn below.
4 min read
In the complex world of federal taxes, myths and misconceptions can lead to costly mistakes and missed opportunities — especially for business owners...
5 min read
If you're involved in a business or investment venture with one or more co-owners, you may have an unintended partnership for federal income tax...
2 min read
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants,...
1 min read
Small business owners and independent contractors always look for ways to save time. If you run your own business (or want to start one), having a...
2 min read
Every year, the amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. This chart...
2 min read
When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and...
5 min read
The Republicans will soon control the White House and both chambers of Congress, likely opening the door for major tax legislation next year. Here...
5 min read
With year-end rapidly approaching, many business owners are focusing on budgeting and strategic planning for 2025. But you shouldn't overlook...
4 min read
The Republicans will soon control all three branches of the federal government. What does that mean for taxes on individuals? Here's an overview of...
3 min read
When businesses acquire real estate, they often title it under the company name. Although this might seem straightforward and logical, it's not...
3 min read
As a business owner, you may travel to visit customers, attend conferences, check on vendors, and for other purposes. Understanding which travel...
4 min read
Even successful businesses occasionally incur losses. Start-ups and expanding businesses often have unprofitable years, and unexpected events like...
2 min read
The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals. By 2026, it plans to nearly triple its audit...
2 min read
Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, personal liability, and other...
1 min read
Here are some key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn't...
3 min read
Employers in restaurants, hotels, casinos, and other service industries must comply with the tax rules associated with tips. To assist them, the IRS...
3 min read
Real estate can be an attractive long-term investment. However, the legal entity you select to own property can have important tax implications....
2 min read
529 Accounts are not Just for College It's still summer, but it won't be long until school bells will be ringing again. If you've set up Section 529...
2 min read
While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close...
7 min read
Summer is a good time to reflect on tax planning moves that could lower this year's tax bill. It appears there won't be any significant federal tax...
3 min read
There's been a significant increase in new business applications in recent years. Finance company NerdWallet estimates that 2.8 million new business...
6 min read
Summer is a good time to take stock of how your small business is doing this year and consider options for reducing your 2024 federal income tax...
2 min read
You should understand the tax implications if you’re selling property used in your trade or business. Many complex rules can potentially apply. To...
5 min read
If you're financially successful or expect to become so, taxes are or will become one of your biggest expenses — and most people want to minimize...
2 min read
Running a restaurant can be challenging, to say the least. Handling finances while managing day-to-day operations can be overwhelming. That’s why...
2 min read
There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners...
1 min read
You may have to make estimated tax payments if you earn income that's not subject to withholding, such as income from self-employment, interest,...
3 min read
Once you're married, you have two options when it comes to filing your annual federal income tax return — married filing jointly or married filing...
4 min read
The number of people being audited by the IRS isn't that high. For many years, less than 1% of taxpayers undergo face-to-face audits (although...
2 min read
Employees don't always take the task of filling out their W-4 forms seriously. They may write "exempt" on the withholding portion of the form or even...
3 min read
What would happen if your company failed to pay the IRS payroll taxes when they were due? You could be on the hook for penalties and, if you're...