364 plain-English guides on us tax, each one ending in what to do next.
Page 14 of 16, newest first.
A data breach at a law firm does not just expose names and Social Security numbers (like a retail breach).
US TaxFor most law firms the entity question is really the S-corp question: whether to split owner income into salary and distributions.
US TaxA law firm partner's pay arrives as guaranteed payments and a distributive share on the K-1, and both carry self-employment tax.
US TaxLaw firm partners can defer over $200,000 a year by stacking a solo 401(k) with a cash balance plan. How each plan type works and the contribution limits.
US TaxA law firm without a succession plan loses value when a founding partner exits. It loses the client relationships that partner built over decades.
US TaxLaw firms have deductions other businesses do not: malpractice insurance, bar dues, CLE, and legal research subscriptions.
US TaxSeparate LLCs isolate liability, not tax. The reason for multiple LLCs is liability isolation, not tax benefit.
US TaxFor any gift of $250 or more the donor's deduction depends on your letter: the amount, whether goods or services were provided, their value.
US TaxTax-exempt organizations under IRC 501(c) were eligible for the Employee Retention Credit (ERC) on the same basis as for-profit employers.
US TaxForm 990 requires disclosure of compensation for officers, directors, key employees, and the five highest-paid employees and independent contractors.
US TaxA project without its own 501(c)(3) can take tax-deductible gifts through a fiscal sponsor that controls the money.
US TaxEvery exempt organization files a version of Form 990 unless it's a church, and three missed years end the exemption automatically.
US TaxForm 990 asks whether your nonprofit has conflict of interest, whistleblower, and document retention policies.
US TaxA grant restricted to youth literacy can't pay the rent, and the accounting has to prove it didn't. Under the FASB standard for nonprofits (ASC 958).
US TaxThere is a specific order of operations for launching a nonprofit, and most founders get at least one step wrong.
US TaxA nonprofit owes 21% on net income from a regular business unrelated to its purpose, after a $1,000 deduction.
US TaxReal Estate Professional Status (REPS) removes the per-se passive classification that IRC 469(c)(2) applies to all rental activities.
US TaxA wholesale assignment fee is ordinary income, not a capital gain. The dealer classification triggers self-employment tax and blocks 1031 exchanges.
US TaxFood cost and prime cost determine whether a restaurant makes money. A restaurant that does not know its food cost percentage weekly is flying blind.
US TaxMost restaurants that close are profitable on paper but run out of cash. Here is how to build a weekly cash flow forecast and manage seasonal swings.
US TaxMost restaurants start as an LLC. When net income exceeds $60,000-$80,000, an S-corp election can save self-employment tax.
US TaxRestaurants waste 4-10% of purchased food before it reaches a plate. Here is how to track inventory, account for waste, and deduct spoilage losses.
US TaxThe lease is a restaurant's largest fixed cost after labor. The base rent is the number that appears in the listing.
US TaxHow the tip credit, tipped minimum wage, and overtime rules work for restaurant payroll, with common mistakes and state-by-state differences.