2,076 plain-English guides on cross-border moves, US and Canadian returns, and small-business money. Each one ends in what to do next, and says when a written Diagnostic is the smarter first step.
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Self-storage deductions: Building and improvements: - Storage building construction: $25-$65 per sq ft depending on type (drive-up vs.
US TaxSelf-storage is NOT an SSTB. Cost segregation on the building can reclassify 15-25% to shorter-lived property. Net margins run 40-60% at stabilization.
US TaxSelf-storage estimated tax considerations: - Year 1-3 with cost segregation: depreciation typically exceeds NOI. Tax loss.
US TaxTattoo studios deduct ink, needles, gloves, and single-use supplies as cost of goods sold or ordinary expenses. Major deduction categories for tattoo.
US TaxTattoo studios are generally NOT specified service trades or businesses (SSTBs) because tattooing is a skilled trade, not consulting, health care.
US TaxEstimated tax considerations for tattoo studios: 1. All income is taxable, including cash and tips. All income is taxable.
US TaxTattoo studio owners (NOT SSTBs) qualify for the full 20% QBI deduction and can stack it with retirement plan contributions.
US TaxTattoo studios use two primary models: booth rental (artist pays rent for space) and commission/employment (studio pays artist a percentage).
US TaxTow trucks qualify for full bonus depreciation ($40,000-$800,000 per truck, all over 6,000 lbs). Fuel is the largest ongoing expense (10-20% of revenue).
US TaxTowing is NOT a specified service trade or business (SSTB). S-Corp election makes sense at $55,000-$65,000 in net profit.
US TaxTowing is one of the least seasonal businesses (24/7 demand for roadside assistance, accidents, and impounds). Revenue is nearly flat year-round.
US TaxTowing businesses can deduct tow trucks ($40,000-$150,000, Section 179), fuel (the largest ongoing expense), insurance (garagekeepers, on-hook).
US TaxTowing businesses are NOT SSTBs and qualify for the full QBI deduction. The S-Corp election saves $5,000-$10,000/year at $120,000+ net profit.
US TaxTowing businesses generate relatively steady revenue (accidents and breakdowns happen year-round) but face lumpy cash flow from equipment purchases.
US TaxTow truck drivers are almost always employees under IRS and DOL tests when using the company's truck, working company dispatch.
US TaxTree service businesses can deduct chippers ($20,000-$80,000, Section 179), stump grinders, bucket trucks, chainsaws, crew wages.
US TaxTree service businesses have heavy equipment costs: bucket trucks ($50,000-$150,000), chippers ($15,000-$50,000), stump grinders ($5,000-$30,000).
US TaxTree service businesses are NOT SSTBs and qualify for the full QBI deduction. Entity structure comparison for tree service: Sole proprietorship /.
US TaxTree service businesses face strong seasonality (70-80% of revenue March through October). Estimated tax basics for tree service owners: Who must pay: any.
US TaxTree service revenue peaks March through November with near-zero work in northern winters. Tree service seasonal tax planning: Northern market seasonality.
US TaxTree service crew members are almost always employees under IRS and DOL tests. Why tree service crew members are employees: Behavioral control (IRS.
US TaxTree service business tax profile: SSTB status: NOT an SSTB. Tree trimming, removal, stump grinding, and lot clearing are.
US TaxTutors can deduct curriculum materials, test prep books, software subscriptions, platform fees, and a home office. The main deductible categories for.
US TaxThe IRS defines "consulting" for SSTB purposes as "providing advice and counsel to clients" (Reg. 1.199A-5(b)(2)(vii)). 1.199.