How to Set Up a Simple Chart of Accounts for Your Business Running a small business or working as a self-employed contractor comes with its fair share of responsibilities, and one of the most critical is managing your financial records. A well-organized bookkeeping...
In today’s digital age, choosing the right accounting software is crucial for businesses of all sizes. With numerous options available, it can be challenging to determine which software best suits your needs. This article will explore some of the most popular...
W-2 Salary vs. Distributions vs. K-1 for S-Corp Owners As an S-Corporation (S-Corp) owner, understanding the distinctions between W-2 wages, distributions, and K-1 profits is essential for managing your tax obligations and business finances. In this article, we will...
What Tax Documents Should I Save, and How Long Should I Save Them? Maintaining proper tax records is crucial for both individuals and businesses. Not only does it ensure compliance with tax laws, but it also provides a safeguard in case of audits or disputes. This...
Foreign Income and Taxes: Understanding the Foreign Earned Income Exclusion and Tax Implications for Expatriates Living and working abroad can be an exciting adventure, but it also comes with unique tax challenges. One of the most significant considerations for U.S....
