Tax benefits of an LLC and how this business entity helps avoid double taxation, reduces self-employment taxes, and gives access to deductions.

Learn what petty cash is, how much to keep on hand, how petty cash affects bookkeeping, and the pros and cons of keeping petty cash in your small business.

Six important small business tax tips this year to stay organized, maximize your tax deductions, and avoid IRS penalties.

Tax basis vs book basis accounting, their pros and cons, and when to use each one.

Learn about the accumulated earnings tax, how it affects retained earnings, and how the IRS determines how much business profit is reasonable to retain.

Learn about standard costing, how it helps improve efficiency in companies, its benefits and potential drawbacks, and how to calculate your standard costs.

Creating business expense categories for tax helps your business organize its records and ensure it benefits from all the available tax deductions.

Learn if Patreon income is taxable, which taxes content creators typically pay, which forms to file, and when to get professional tax help.

Learn how to process payroll in your business, how to calculate gross and net pay, and how payroll solutions can streamline the process.

Learn how to file back taxes when you’ve missed one or more deadlines, the timescales involved, and the possible consequences of not paying back taxes.

Discover how much you should set aside for taxes as a 1099 contractor, which taxes you must pay, and how to calculate and file estimated quarterly taxes.

Discover what miscellaneous itemized deductions are, how itemized and standard deductions differ, and the impact of the Tax Cuts and Jobs Act on deductions.

Learn what beneficial ownership reporting is, who is considered a beneficial owner, and how to prepare and lodge a BOI report if required.

Discover if Florida taxes retirement income and whether Florida residents pay property, sales, capital gains, and estate taxes at the local and/or state levels.

Learn what the debt-to-equity ratio is, how to calculate and interpret the result, and how the D/E ratio can vary across different industries.

See how much you should set aside for taxes as a real estate agent, how your business type affects your taxes, and federal tax brackets for 2024.

Discover how much you can gift an employee tax-free, which gifts are taxable, and how their type, value, and frequency affect their taxability.

Learn the Cohan Rule for IRS audits, the origin of the rule, and how it can help you when being audited if you don’t have all of your receipts.

Learn the difference between above-the-line vs below-the-line deductions, common examples of each, and how they help you reduce your taxable income.

Discover the top 10 tax planning strategies for businesses, including strategic income management, bunching deductions, tax credits, and charitable giving.