1,454 plain-English guides on us tax, each one ending in what to do next.
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The franchise fee ($20,000-$50,000+) is amortized over 15 years under IRC 197. Ongoing royalties (4-8% of revenue) are deductible when paid.
US TaxBuying equipment allows Section 179 expensing and bonus depreciation. Leasing provides fully deductible payments and preserves cash.
US TaxMost small businesses benefit from S-Corp status, but C-Corps offer advantages in specific situations: retaining earnings at 21%.
US TaxC-Corps pay a flat 21% corporate tax (TCJA rate, made permanent) with double taxation on distributions (qualified dividends taxed at 15-20%).
US TaxA C-Corp pays a flat 21% corporate tax rate, then shareholders pay tax again on dividends (double taxation).
US TaxC-Corps face double taxation but offer unlimited shareholders, stock classes, and venture capital compatibility.
US TaxCapital gains tax applies when a business owner sells an asset (stocks, real estate, business interests, equipment) for more than its adjusted basis.
US TaxA captive insurance company is a wholly owned subsidiary formed to insure the risks of its parent company. 831(b) micro-captive basics: | Element | Details.
US TaxA captive insurance company is a licensed insurance company owned by the business (or business owner) it insures. Micro-captive insurance (IRC 831(b)).
US TaxA cash balance pension plan is a type of defined benefit plan that combines the high contribution limits of traditional pension plans with the portability.
US TaxMost small businesses use cash accounting (income when received, expenses when paid).
US TaxThe cash method recognizes income when received and expenses when paid. The accrual method recognizes income when earned and expenses when incurred.
US TaxCash basis reports income when received and expenses when paid. Accrual basis reports income when earned and expenses when incurred.
US TaxCash basis recognizes income when received and expenses when paid. Accrual basis recognizes income when earned and expenses when incurred.
US TaxC-Corp vs. S-Corp comparison: S-Corp advantages: - No double taxation. Income is taxed once at the shareholder level. - SE tax savings.
US TaxDonating appreciated long-term capital gain property (stocks, real estate. Charitable contribution deduction limits (2025): | Donation Type | AGI Limit |.
US TaxSole proprietors and S-Corp shareholders deduct charitable contributions on their personal return (Schedule A), not the business return.
US TaxThe deductibility of charitable contributions depends entirely on the business entity structure. Charitable contribution deduction by entity type: | Entity.
US TaxCharitable deduction by entity type: - Sole proprietor (Schedule C): Charitable contributions are NOT deductible on Schedule C.
US TaxSole proprietors deduct charitable contributions on Schedule A (personal itemized deductions), not Schedule C. Charitable deduction rules by entity type: |.
US TaxBusiness owners can donate cash (60% AGI limit), appreciated stock (30% AGI limit, no capital gains tax), or inventory.
US TaxBusiness owners can deduct charitable contributions through the business (C-Corp) or personally (pass-through entities).
US TaxBusiness owners have access to charitable giving strategies that go far beyond writing a check. Charitable contribution AGI limits (2025): | Contribution.
US TaxStrategic charitable giving can produce significant tax benefits for business owners beyond the standard cash donation deduction.