Your Complete Guide to Self-Employment Tax Solutions Embarking on the path of self-employment is a dream many aspire to, and you’re one step ahead with both the vision and resources to make it a reality. To ensure your entrepreneurial venture thrives without...
Navigating the 2024 Tax Landscape: What You Need to Know Introduction: As we gear up for the upcoming tax season, it’s crucial to stay ahead of the curve and be aware of the changes that will shape the 2024 tax landscape. In this blog post, we’ll...
Cruise Write-Offs: A Smart Financial Move How to cruise a write off? First things first, let’s remember our general rules that before we can deduct a business expense it must be ORDINARY and NECESSARY, meaning “An ordinary expense means it’s typical in your business,...
Shield Your Business: Protecting What Matters Most Tax matters can be a labyrinth of complexities, especially for small business owners juggling a multitude of responsibilities. The mere thought of facing the Internal Revenue Service (IRS) can send shivers down the...
Steps to Prepare for the Corporate Transparency Act The Corporate Transparency Act (CTA), enacted as part of the Anti-Money Laundering Act of 2020, introduces significant changes in beneficial ownership reporting requirements for certain entities operating in the...
How Is the IRS Cracking Down on S-Corp Salaries? The IRS is turning its attention to S-Corporations (S-Corps) and the salaries paid to shareholder-employees. Ensuring that you are paying yourself a “reasonable compensation” is crucial to staying compliant...
