Accounting, Bookkeeping, & Tax Blog

Because the IRS closely monitors this area, failing to pay a reasonable salary is one of the most common triggers for an audit of S corporations. This guid [...]

The answer is yes, but the path to maximizing this deduction requires careful planning, strict compliance with IRS rules, and a long-term strategy. This gu [...]

Electing S corporation tax status can unlock meaningful savings and signal a new stage of professionalism in your business. It also introduces stricter com [...]

Selecting the optimal entity has numerous benefits and can make a positive impact immediately. For example, small business owners can cut their tax burden [...]

Despite its popularity, many entrepreneurs, freelancers, and small business owners find QuickBooks features to be overwhelming, pricing too expensive, or s [...]

Understanding how to take money out of your LLC without triggering unexpected tax liabilities can be complex. This excellent guide demystifies LLC distribu [...]

This guide breaks down what assets, liabilities, and equity really mean for your business, how they shape your balance sheet, and how to use them as a deci [...]

Getting this wrong can lead to missed tax savings, or worse, penalties and increased IRS scrutiny. However, when handled correctly the S corp structure off [...]

When you think of depreciating a tangible asset, you likely picture allocating its cost over its estimated useful life, which can be several years. But wha [...]