Industry-specific tax planning for law firms, medical and dental practices, restaurants, trucking, trades, e-commerce, farms, nonprofits, and more.
58 guides, each written 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.
Tax PlanningFranchising presents unique tax rules that differ from starting an independent business. Franchise cost tax treatment. Includes IRS rules, documentation.
Tax PlanningFederal agencies report their performance against these goals annually, and procurement officers face real pressure to meet them.
Tax PlanningForming a tax-exempt organization under IRC 501(c)(3) provides significant benefits. Types of tax-exempt organizations (common).
Tax PlanningFranchise businesses have unique tax considerations that differ from independent businesses, starting with the treatment of the initial franchise fee.
Tax PlanningAccounting firms and CPA practices are explicitly classified as specified service trades or businesses (SSTBs) under IRC 199A.
Tax PlanningAgricultural businesses operate under a unique set of tax rules that recognize the inherent volatility of farm income. Farm-specific tax provisions: |.
Tax PlanningAmazon FBA (Fulfillment by Amazon) sellers face a unique multi-state tax exposure because Amazon stores inventory in warehouses across the country.
Tax PlanningArchitecture and engineering firms aren't SSTBs under IRC 199A(d)(2), so principals above the income threshold can keep the QBI deduction, subject to W-2 wage and property limits.
Tax PlanningAuto dealerships operate under a specialized tax framework that differs significantly from most retail businesses because of three unique features.
Tax PlanningBeauty salons and barbershops choose between W-2 stylists, where the salon can claim the IRC 45B FICA tip credit, and booth renters who pay their own SE tax.
Tax PlanningCraft beverage producers (breweries, wineries, and distilleries) face a unique two-layer tax structure. CBMA excise tax rates (permanent).
Tax PlanningCannabis businesses operate under the most punitive tax regime of any legal industry in the United States because of IRC 280E.
Tax PlanningConstruction companies face unique tax rules that differ significantly from other industries. Revenue recognition methods for construction contracts: |.
Tax PlanningConsultants, freelancers, and independent professionals face a unique tax landscape where self-employment tax (15.3% on the first $176,100 of net.
Tax PlanningDaycare and childcare center operators face a unique tax profile because the business is labor-intensive (70-80% of revenue goes to staff wages.
Tax PlanningDental practices face a tax planning environment that closely mirrors medical practices but with several key differences.
Tax PlanningDental practices are classified as specified service trades or businesses (SSTBs) under IRC 199A, falling within the 'health care' category of Treas. Reg.
Tax PlanningE-commerce businesses face a unique combination of tax challenges that brick-and-mortar retailers do not encounter. E-commerce tax obligations: |.
Tax PlanningE-commerce businesses face a tax compliance landscape that is more complex than traditional brick-and-mortar retail because online sellers create sales.
Tax PlanningOnline education businesses (course creators, membership sites, coaching programs. E-learning business SSTB classification.
Tax PlanningFarmers and agricultural businesses receive more favorable tax treatment than almost any other industry in the Internal Revenue Code.
Tax PlanningFitness businesses span a wide range of models (from solo personal trainers to multi-location gym chains). Fitness business SSTB classification: |.
Tax PlanningFood truck and mobile food businesses present a unique tax profile because the primary business asset (the truck itself) serves as both a vehicle.
Tax PlanningFranchise 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.
Tax PlanningThe fitness industry presents specific tax planning opportunities and challenges that differ from typical service businesses.
Tax PlanningHVAC, plumbing, and electrical contractors operate equipment-intensive. Trade contractor tax deduction priorities:. Covers key rules, filing requirements,.
Tax PlanningInfluencers and content creators face a unique tax situation because their income typically comes from multiple sources (brand deals, sponsorships.
Tax PlanningIT consulting firms, managed service providers (MSPs), and technology services companies face a critical tax planning question that determines the value.
Tax PlanningLandscaping and lawn care businesses are equipment-intensive, seasonal (in most of the U.S.), and labor-dependent. Landscaping equipment depreciation: |.
Tax PlanningLaw firms are explicitly classified as specified service trades or businesses (SSTBs) under IRC 199A, falling within the 'law' category of Treas. Reg.
Tax PlanningLaw firms face a tax environment shaped by high income, the SSTB classification under IRC 199A (legal services are explicitly listed as a specified.
Tax PlanningLaw firms and solo attorneys face unique tax planning challenges because legal services are classified as a specified service trade or business (SSTB).
Tax PlanningManufacturing businesses benefit from a uniquely favorable tax position because they combine large equipment depreciation deductions.
Tax PlanningMedical and dental practice owners are among the highest-earning small business owners in the country, with average net incomes of $250,000-$500.
Tax PlanningMedical and dental practices get the biggest tax savings from an S-Corp election, a defined benefit plus 401(k) combination, and Section 179 on equipment.
Tax PlanningMedical practices and physician-owned businesses face a distinctive tax planning challenge because healthcare services are classified as a specified.
Tax PlanningNonprofit organizations that generate income from activities unrelated to their exempt purpose are subject to the unrelated business income tax (UBIT).
Tax PlanningPet care businesses (grooming salons, boarding kennels, dog daycare facilities. Pet care business depreciation:. Covers key rules, filing requirements,.
Tax PlanningPhotography and videography businesses are equipment-intensive creative enterprises where the primary tax planning opportunities center on aggressive.
Tax PlanningPhysicians and medical practice owners face a tax environment shaped by high income (average physician income ranges from $250,000 for primary care.
Tax PlanningPrivate equity and investment fund managers face a unique tax landscape that revolves around two income streams. Fund manager compensation structure: |.
Tax PlanningProfessional athletes, entertainers, musicians, and other high-profile performers face unique tax challenges that ordinary business owners.
Tax PlanningProfessional athletes and entertainers face a tax environment that is unlike any other profession because their income is (1) extremely high.
Tax PlanningProfessional services and consulting firms (management consulting, marketing agencies, financial advisory, accounting firms.
Tax PlanningProfessional services firms (law firms, consulting practices, advisory firms. SSTB impact on professional services firms:.
Tax PlanningProperty management companies collect management fees (typically 8-12% of gross rent for residential. Property management revenue streams: | Revenue.
Tax PlanningRestaurants and food service businesses have access to several tax benefits that are either unique to the industry or particularly valuable for food.
Tax PlanningFood and beverage businesses operate under a specialized set of tax rules that create both unique deductions and compliance requirements.
Tax PlanningSoftware and SaaS companies face a unique combination of tax rules that differ significantly from traditional businesses.
Tax PlanningStaffing agencies and temporary employment services face a unique tax burden because their primary cost is labor. Staffing agency payroll tax costs (per.
Tax PlanningTattoo studios and body art businesses operate on a model similar to hair salons. Tattoo studio business models:. Covers key rules, filing requirements,.
Tax PlanningTrucking and transportation businesses operate under a unique tax framework that combines heavy equipment depreciation. Covers key rules, filing.
Tax PlanningTrucking companies and owner-operators have unique tax planning opportunities that differ significantly from other industries.
Tax PlanningTrucking owner-operators (independent contractors who own or lease their truck and haul freight under their own authority or leased to a carrier) have one.
Tax PlanningVeterinary practices share many tax characteristics with human healthcare practices, including the SSTB classification under IRC 199A(d)(2).
Tax PlanningWedding and event planning businesses face unique tax challenges because of the timing mismatch between collecting deposits (often 6-18 months.
Tax PlanningTax-exempt status under IRC 501(c)(3) provides significant benefits including exemption from federal income tax. Types of tax-exempt organizations: | IRC.