493 plain-English guides on small business & bookkeeping, each one ending in what to do next.
Page 20 of 21, newest first.
Hiring remote employees in other states creates tax nexus for the employer. Hiring a remote employee in another state triggers multiple state tax.
Small Business & BookkeepingRenting personally owned property to your S-Corp creates a deductible expense for the business and rental income for you personally.
Small Business & BookkeepingEquity compensation is one of the most complex areas of individual and business taxation because the tax consequences depend on the type of award.
Small Business & BookkeepingAdding a partner to a sole proprietorship changes the tax structure from Schedule C to Form 1065 (partnership return). What changes when you add a partner.
Small Business & BookkeepingThe tax treatment of business litigation proceeds depends on the origin of the claim. Tax treatment of damages received (recipient's perspective): |.
Small Business & BookkeepingA C-Corp pays 21% with double taxation on distributions. An S-Corp passes income through to the owner's personal return with no entity-level tax.
Small Business & BookkeepingHiring family members is one of the most underutilized tax strategies for small business owners because it accomplishes multiple objectives.
Small Business & BookkeepingBonuses are deductible when properly accrued and paid within 2.5 months of year-end (the IRC 267/404(a)(5) rule for related parties).
Small Business & BookkeepingReal estate developers face one of the most consequential tax classifications in the code: dealer vs. investor. Dealer vs.
Small Business & BookkeepingReal estate professional status (REPS) under IRC 469(c)(7) is one of the most valuable tax classifications a taxpayer can achieve because it allows rental.
Small Business & BookkeepingRental real estate is the most tax-advantaged asset class in the U.S. Depreciation, 1031 exchanges, and cost segregation can defer or eliminate the tax.
Small Business & BookkeepingRental property investing offers unique tax advantages that no other investment class can match. Tax benefits of rental property.
Small Business & BookkeepingThe IRS requires businesses to keep records that support the income and deductions reported on tax returns for the applicable statute of limitations.
Small Business & BookkeepingIntellectual property (IP) has unique tax treatment depending on how it is created, acquired, and monetized. IP classification and tax treatment: | IP.
Small Business & BookkeepingCash-method businesses can accelerate deductions by prepaying certain expenses before year-end. Under the 12-month rule (Reg.
Small Business & BookkeepingBusiness travel expenses are deductible under IRC 162 when the trip requires an overnight stay away from the taxpayer's tax home.
Small Business & BookkeepingBusiness travel is deductible when the trip is primarily for business, requires overnight stay. Business travel deductions are among the most valuable.
Small Business & BookkeepingUnder IRC 6672, a responsible person who willfully fails to pay over payroll taxes withheld is personally liable for 100% of the unpaid trust fund tax.
Small Business & BookkeepingThe trust fund recovery penalty under IRC 6672 holds 'responsible persons' personally liable for the employee portion of payroll taxes (federal income tax.
Small Business & BookkeepingIRC 280A establishes the tax rules for properties that serve dual purposes as both personal residences and rental properties.
Small Business & BookkeepingRenting your home for 14 days or fewer per year makes the income completely tax-free (the 'Masters exemption'). Above 14 days, the personal use vs.
Small Business & BookkeepingBusiness owners choose between standard mileage rate (70 cents/mile in 2025) and actual expenses for vehicle deductions.
Small Business & BookkeepingSelf-employed business owners who use a personal vehicle for business can deduct either the standard mileage rate or actual vehicle expenses.
Small Business & BookkeepingBusiness vehicle deductions come in two methods: standard mileage (70 cents/mile in 2025, simpler) or actual expenses (gas, insurance, repairs.