Are you in the process of starting a business or contemplating changing your business entity? If so, you’ll need to decide how to organize your company. Should you operate as a C corporation or as a pass-through entity such as a partnership...
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Many businesses use independent contractors to help keep their costs down and provide flexibility for short-term needs. But the question of whether a worker is an employee or an independent contractor is complex. Be careful that your independent...
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Did you recently file your 2023 tax return only to realize there was a mistake? Whether you filed on your own and made a calculation error, forgot to attach a necessary schedule, or just remembered some significant charitable donations from early...
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Retirement Saving Options for Your Small Business. There’s still time to see tax savings on your 2023 tax return by establishing and contributing to a 2023 SEP, right up to the extended due date of the return.
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QBI stands for “qualified business income,” a significant concept that could lead to tax deductions for certain small business owners or self-employed individuals. Enacted as part of the Tax Cuts and Jobs Act (TCJA) in 2017, the QBI...
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If you’re self-employed and run your business from home, or perform certain functions there, you might be able to claim deductions for home office expenses against your business income. The pandemic changed the landscape of work for a lot...
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Understanding what your bank wants and how to approach it properly can mean the difference between getting a loan for expansion or scrambling to find cash from other sources.
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Here’s what small business owners need to know about tax provisions for 2022 Standard Mileage Rates Due to inflation, there were two standard mileage rates in 2022: 62.5 cents per business mile driven (July 1-December 31, 2022) and 58.5 per...
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Filing an error-free tax return is key to taxpayers getting any refund they are due as soon as possible. Requesting a Tax Transcript From the IRS
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