8 min read
5 Tax Deductions Restaurant Owners Often Overlook
Imagine you’re plating a perfect dinner: carefully seasoned, beautifully arranged, ready to impress. Now imagine watching a third of it get scraped...
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Small Business Taxes
6 min read
What is a Schedule K-1?
You open your mailbox and spot something that looks official—an IRS form labeled “Schedule K-1.” You’ve never seen one before, and suddenly your tax...
6 min read
Sole Proprietorship vs. Partnership vs. S-Corp Which Business Structure is Right for You?
When starting or growing a business, one of the most important decisions you’ll make is how to structure it.
5 min read
No Tax on Some Tips or Overtime? What These New OBBB Rules Mean for Your Business
The One Big Beautiful Bill Act (OBBB) introduced a wave of tax code changes aimed at supporting small businesses, simplifying compliance, and...
6 min read
What's a Business Owner Tax Preview?
Tax time shouldn’t feel like a surprise party that ends with the IRS handing you the bill.
6 min read
The Hidden Costs of Filing a Tax Extension — And How to Avoid Them
Filing a tax extension seems like an easy way to buy time, right? But for small business owners, it can quietly cost more than you expect.
5 min read
Individual Tax Credits You Can't Afford to Overlook
Tax credits are the most valuable tax breaks available. Each dollar of credit equals a dollar of tax savings. By comparison, if you're in the 32%...
2 min read
Four Ways That Family Business Owners Can Transfer Their Wealth
Many family business owners reach a point in their lives when they start thinking about not only their own retirements, but also their families'...
3 min read
Crypto May Be Cool, But It's Not Tax-Free
The popularity of cryptocurrency — including Bitcoin, Ethereum and Dogecoin — continues to hold steady, if not grow. But no matter how cool crypto...
5 min read
How the One Big Beautiful Bill Act Affects Small Businesses
If you own a small business, the so-called One Big Beautiful Bill Act is going to affect you.
5 min read
3 Ways Accountants Help Small Businesses Beyond Tax Time
If the only time you hear from your accountant is in March or April, you might be missing out on the best part of the relationship.
6 min read
What's the Difference Between Profit and Distributions?
Many small business owners see a healthy profit on their books and assume they can take that money home right away. But it’s not that simple. There’s...
5 min read
5 Common Business Entities and Their Tax Implications
Choosing the right business entity is one of the most important decisions entrepreneurs make when launching or restructuring a business. The type of...
4 min read
8 Life Events that May Change Your Tax Situation
Life is full of changes, and many significant milestones can affect your tax situation in unforeseen ways. Whether you're getting married, welcoming...
2 min read
Can You Turn Business Losses into Tax Relief?
Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits,...
4 min read
Don't Let Quarterly Estimated Tax Payment Obligations Catch You Off Guard
If you're self-employed, run your own small business, or have rental or investment income, there's a good chance you must make quarterly estimated...
5 min read
How to Handle a Large Tax Bill as a Small Business Owner
Getting hit with a large tax bill can feel like a punch to the gut, especially when you weren’t expecting it. For small business owners juggling...
4 min read
3 Reasons Small Business Owners Get Tax Surprises
Imagine this: You’ve wrapped up a successful year. Sales are up, customers are happy, and you’re feeling confident about your business. Then, tax...
7 min read
5 Common Tax Mistakes Caused by Poor Bookkeeping
Small business owners often face enough pressure managing day-to-day operations without the added stress of tax season. Between juggling client...
2 min read
6 Essential Tips for Small Business Payroll Tax Compliance
Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships, and even legal...
3 min read
Planning for the Future: 5 Business Succession Options and Their Tax Implications
When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next generation of leaders...
7 min read
Understanding Accounting Complexity in Small Businesses
Accounting is an essential part of running a business, but for many small business owners, it can quickly become overwhelming. What starts as a...
5 min read
The Small Business Guide to Organizing for Tax Time
Running a small business is exciting—but let's be honest, tax time is not.
4 min read
Dispelling 10 Federal Tax Myths and Misconceptions
In the complex world of federal taxes, myths and misconceptions can lead to costly mistakes and missed opportunities — especially for business owners...
5 min read
Is Your Venture a Partnership for Tax Purposes?
If you're involved in a business or investment venture with one or more co-owners, you may have an unintended partnership for federal income tax...
2 min read
Questions About Taxes and Tips? Here Are Some Answers for Employers
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants,...
1 min read
Avoid Mixing Personal and Business Accounts
Small business owners and independent contractors always look for ways to save time. If you run your own business (or want to start one), having a...
2 min read
Important Tax Figures for 2025
Every year, the amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. This chart...
2 min read
Operating as a C Corporation: Weigh the Benefits and Drawbacks
When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and...
5 min read
2025 Tax Outlook for Businesses and Their Owners
The Republicans will soon control the White House and both chambers of Congress, likely opening the door for major tax legislation next year. Here...
5 min read
Wrap Up Your Business Year with Big Tax Savings
With year-end rapidly approaching, many business owners are focusing on budgeting and strategic planning for 2025. But you shouldn't overlook...