S Corporations Reasonable Compensation Requirement
Unlike a C corporation, which itself pays the tax on its taxable income, an S corporation does not directly pay taxes on its income; instead, its inco…
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Why Proactive Planning is More Important Than You Realize
One of the major reasons why planning is so crucial in this context is because it helps avoid one of the single biggest problems that both businesses …
The Ever-Changing Role of Tax and Accounting Professionals in the Modern Era
Accounting professionals were able to help many organizations avoid things like cash flow emergencies, burnout, and anxiousness. Learn more….
Owe the IRS Money? How Long Do They Have to Collect?
Have you ever wondered how long the IRS has to question and assess additional tax on your tax returns? For most taxpayers who reported all their incom…
Why Employee Classification is of Paramount Importance
Ultimately, it all comes down to the difference between salary and hourly pay employees…
May 2022 Individual Due Dates
Here are the May 2022 Individual Due Dates…
May 2022 Business Due Dates
Here are the May 2022 Business Due Dates…
Too Many Transactions in QuickBooks Online? Create Rules
It’s important to categorize transactions, but it takes time. If every day brings several dozen into QuickBooks Online, you can automate this pr…
Video Tips: The Significance of Releasing a Child’s Dependency
If you are a custodial parent, you may release a child’s dependency to the non-custodial parent for tax purposes. But are you fully aware of the effects it will have on both your and the other parent’s tax returns? This video will give you a quick explanation on the ramifications of releasing a child’s dependency.
You May Qualify for a Small Business Home Office Deduction
If you are a small business owner and use part of your home for business, you may be able to take the so-called office-in-home tax deduction. This ded…
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