Industry-specific tax planning for law firms, medical and dental practices, restaurants, trucking, trades, e-commerce, farms, nonprofits, and more.
58 guides, each reviewed by a CPA licensed in the US and Canada.
Cannabis businesses face a unique and punitive federal tax rule that no other legal industry confronts: IRC 280E. IRC 280E impact on cannabis.
Small Business & BookkeepingFranchising presents unique tax rules that differ from starting an independent business. Franchise cost tax treatment. Includes IRS rules, documentation.
Small Business & BookkeepingFederal agencies report their performance against these goals annually, and procurement officers face real pressure to meet them.
Small Business & BookkeepingForming a tax-exempt organization under IRC 501(c)(3) provides significant benefits. Types of tax-exempt organizations (common).
Small Business & BookkeepingFranchise businesses have unique tax considerations that differ from independent businesses, starting with the treatment of the initial franchise fee.
Small Business & BookkeepingAccounting firms and CPA practices are explicitly classified as specified service trades or businesses (SSTBs) under IRC 199A.
Small Business & BookkeepingAgricultural businesses operate under a unique set of tax rules that recognize the inherent volatility of farm income. Farm-specific tax provisions: |.
Small Business & BookkeepingAmazon FBA (Fulfillment by Amazon) sellers face a unique multi-state tax exposure because Amazon stores inventory in warehouses across the country.
Small Business & BookkeepingArchitecture and engineering firms are classified as specified service trades or businesses (SSTBs) under IRC 199A(d)(2).
Small Business & BookkeepingAuto dealerships operate under a specialized tax framework that differs significantly from most retail businesses because of three unique features.
Small Business & BookkeepingBeauty salons, barbershops, and hair studios present a unique tax structure because of the booth rental model.
Small Business & BookkeepingCraft beverage producers (breweries, wineries, and distilleries) face a unique two-layer tax structure. CBMA excise tax rates (permanent).
Small Business & BookkeepingCannabis businesses operate under the most punitive tax regime of any legal industry in the United States because of IRC 280E.
Small Business & BookkeepingConstruction companies face unique tax rules that differ significantly from other industries. Revenue recognition methods for construction contracts: |.
Small Business & BookkeepingConsultants, freelancers, and independent professionals face a unique tax landscape where self-employment tax (15.3% on the first $176,100 of net.
Small Business & BookkeepingDaycare and childcare center operators face a unique tax profile because the business is labor-intensive (70-80% of revenue goes to staff wages.
Small Business & BookkeepingDental practices face a tax planning environment that closely mirrors medical practices but with several key differences.
Small Business & BookkeepingDental practices are classified as specified service trades or businesses (SSTBs) under IRC 199A, falling within the 'health care' category of Treas. Reg.
Small Business & BookkeepingE-commerce businesses face a unique combination of tax challenges that brick-and-mortar retailers do not encounter. E-commerce tax obligations: |.
Small Business & BookkeepingE-commerce businesses face a tax compliance landscape that is more complex than traditional brick-and-mortar retail because online sellers create sales.
Small Business & BookkeepingOnline education businesses (course creators, membership sites, coaching programs. E-learning business SSTB classification.
Small Business & BookkeepingFarmers and agricultural businesses receive more favorable tax treatment than almost any other industry in the Internal Revenue Code.
Small Business & BookkeepingFitness businesses span a wide range of models (from solo personal trainers to multi-location gym chains). Fitness business SSTB classification: |.
Small Business & BookkeepingFood truck and mobile food businesses present a unique tax profile because the primary business asset (the truck itself) serves as both a vehicle.
Small Business & BookkeepingFranchise businesses have a distinct tax profile because the franchise fee (typically $25,000-$100,000 for a single unit) is an IRC 197 intangible asset.
Small Business & BookkeepingThe fitness industry presents specific tax planning opportunities and challenges that differ from typical service businesses.
Small Business & BookkeepingHVAC, plumbing, and electrical contractors operate equipment-intensive. Trade contractor tax deduction priorities:. Covers key rules, filing requirements,.
Small Business & BookkeepingInfluencers and content creators face a unique tax situation because their income typically comes from multiple sources (brand deals, sponsorships.
Small Business & BookkeepingIT consulting firms, managed service providers (MSPs), and technology services companies face a critical tax planning question that determines the value.
Small Business & BookkeepingLandscaping and lawn care businesses are equipment-intensive, seasonal (in most of the U.S.), and labor-dependent. Landscaping equipment depreciation: |.
Small Business & BookkeepingLaw firms are explicitly classified as specified service trades or businesses (SSTBs) under IRC 199A, falling within the 'law' category of Treas. Reg.
Small Business & BookkeepingLaw firms face a tax environment shaped by high income, the SSTB classification under IRC 199A (legal services are explicitly listed as a specified.
Small Business & BookkeepingLaw firms and solo attorneys face unique tax planning challenges because legal services are classified as a specified service trade or business (SSTB).
Small Business & BookkeepingManufacturing businesses benefit from a uniquely favorable tax position because they combine large equipment depreciation deductions.
Small Business & BookkeepingMedical and dental practice owners are among the highest-earning small business owners in the country, with average net incomes of $250,000-$500.
Small Business & BookkeepingMedical and dental practices have unique tax planning opportunities that most general business guidance does not cover.
Small Business & BookkeepingMedical practices and physician-owned businesses face a distinctive tax planning challenge because healthcare services are classified as a specified.
Small Business & BookkeepingNonprofit organizations that generate income from activities unrelated to their exempt purpose are subject to the unrelated business income tax (UBIT).
Small Business & BookkeepingPet care businesses (grooming salons, boarding kennels, dog daycare facilities. Pet care business depreciation:. Covers key rules, filing requirements,.
Small Business & BookkeepingPhotography and videography businesses are equipment-intensive creative enterprises where the primary tax planning opportunities center on aggressive.
Small Business & BookkeepingPhysicians and medical practice owners face a tax environment shaped by high income (average physician income ranges from $250,000 for primary care.
Small Business & BookkeepingPrivate equity and investment fund managers face a unique tax landscape that revolves around two income streams. Fund manager compensation structure: |.
Small Business & BookkeepingProfessional athletes, entertainers, musicians, and other high-profile performers face unique tax challenges that ordinary business owners.
Small Business & BookkeepingProfessional athletes and entertainers face a tax environment that is unlike any other profession because their income is (1) extremely high.
Small Business & BookkeepingProfessional services and consulting firms (management consulting, marketing agencies, financial advisory, accounting firms.
Small Business & BookkeepingProfessional services firms (law firms, consulting practices, advisory firms. SSTB impact on professional services firms:.
Small Business & BookkeepingProperty management companies collect management fees (typically 8-12% of gross rent for residential. Property management revenue streams: | Revenue.
Small Business & BookkeepingRestaurants and food service businesses have access to several tax benefits that are either unique to the industry or particularly valuable for food.
Small Business & BookkeepingFood and beverage businesses operate under a specialized set of tax rules that create both unique deductions and compliance requirements.
Small Business & BookkeepingSoftware and SaaS companies face a unique combination of tax rules that differ significantly from traditional businesses.
Small Business & BookkeepingStaffing agencies and temporary employment services face a unique tax burden because their primary cost is labor. Staffing agency payroll tax costs (per.
Small Business & BookkeepingTattoo studios and body art businesses operate on a model similar to hair salons. Tattoo studio business models:. Covers key rules, filing requirements,.
Small Business & BookkeepingTrucking and transportation businesses operate under a unique tax framework that combines heavy equipment depreciation. Covers key rules, filing.
Small Business & BookkeepingTrucking companies and owner-operators have unique tax planning opportunities that differ significantly from other industries.
Small Business & BookkeepingTrucking owner-operators (independent contractors who own or lease their truck and haul freight under their own authority or leased to a carrier) have one.
Small Business & BookkeepingVeterinary practices share many tax characteristics with human healthcare practices, including the SSTB classification under IRC 199A(d)(2).
Small Business & BookkeepingWedding and event planning businesses face unique tax challenges because of the timing mismatch between collecting deposits (often 6-18 months.
Small Business & BookkeepingTax-exempt status under IRC 501(c)(3) provides significant benefits including exemption from federal income tax. Types of tax-exempt organizations: | IRC.