S Corporation
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An S corporation could cut your self-employment tax
If your business is organized as a sole proprietorship or as a wholly-owned limited liability company (LLC), you’re subject to both income tax and self-employment…
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EIDL loans, restaurant grants offer relief to struggling small businesses
The American Rescue Plan Act (ARPA), signed into law in early March, aims at offering widespread financial relief to individuals and employers adversely affected by…
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What are the tax implications of buying or selling a business?
Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 as the country comes…
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The next estimated tax deadline is January 15 if you have to make a payment
If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS…
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The QBI deduction basics and a year-end tax tip that might help you qualify
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as…
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The importance of S corporation basis and distribution elections
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses…
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