Business Tax

Real Estate Agent Tax Deductions - Essential Knowledge for Every Realtor

Caleb Thornton

Feb 56 min read

Real Estate Agent Tax Deductions - Essential Knowledge for Every Realtor

tax strategies and deductions tailored for real estate agents and self-employed individuals.

303 views

Reducing Your Tax Burden: Smart Strategies for High Income Earners

Emily Williams

Dec 18, 20237 min read

Reducing Your Tax Burden: Smart Strategies for High Income Earners

If you earn a high income, smart tax planning strategies like maximizing retirement contributions, investing in real estate, and tax loss ha

93 views

Navigating Estimated Taxes: Everything You Need to Know

John Summers

Nov 21, 20235 min read

Navigating Estimated Taxes: Everything You Need to Know

Estimated taxes are a necessity for over 12 million filers - do you need to pay them?

2,732 views

The Ultimate Guide to Year-End Tax Planning for Small Business Owners

John Summers

Oct 10, 202310 min read

The Ultimate Guide to Year-End Tax Planning for Small Business Owners

Proper tax planning and preparation before year-end can lead to substantial benefits for business owners, especially with proposed tax law c

921 views

The Complete Guide to Independent Contractor Taxes

John Summers

Oct 2, 20235 min read

The Complete Guide to Independent Contractor Taxes

Filing taxes can be confusing for independent contractors who don't have an employer to withhold taxes, so this complete guide covers self-e

39 views

Explaining Estimated Tax Payments: A Guide for Small Business Proprietors

John Summers

Sep 28, 20235 min read

Explaining Estimated Tax Payments: A Guide for Small Business Proprietors

If you run a business or earn income outside of traditional W-2 employment, chances are you need to pay estimated taxes.

33 views

S Corp vs C Corp: Which is Right for Your Small Business?

John Summers

Sep 21, 20238 min read

S Corp vs C Corp: Which is Right for Your Small Business?

Choosing between an S corp vs C corp structure has major implications for taxation, liability protection, ownership flexibility, and costs w

7 views

Small Business Taxes: Understanding Your Tax Obligations and Maximizing Deductions

John Summers

Sep 21, 20236 min read

Small Business Taxes: Understanding Your Tax Obligations and Maximizing Deductions

As a small business owner, getting a handle on your diverse tax obligations, from income and payroll taxes to sales taxes and employment tax

56 views

Paying Yourself a Reasonable Salary as an S-Corp Owner - With Tax Savings Calculator

John Summers

Sep 5, 20237 min read

Paying Yourself a Reasonable Salary as an S-Corp Owner - With Tax Savings Calculator

With an S-corporation, only wages paid to shareholder-employees are subject to FICA taxes - earnings distributed as dividends bypass payroll

67 views

Demystifying Partnership Taxation: How are Partnerships Taxed?

John Summers

Sep 4, 20235 min read

Demystifying Partnership Taxation: How are Partnerships Taxed?

Understanding partnership taxation concepts like basis, distributions, and pass-through treatment is key for properly reporting partnership

31 views

Cut Your Small Business Tax Bill in Half: 16 Smart Tax Planning Strategies for 2023

John Summers

Aug 1, 20236 min read

Cut Your Small Business Tax Bill in Half: 16 Smart Tax Planning Strategies for 2023

Running a small business comes with complex tax obligations, but there are many legal steps you can take to slash your tax bill by 50% or mo

8 views

Get Ahead of the Taxman: A Guide to Estimated Tax Payments

John Summers

Jul 4, 20234 min read

Get Ahead of the Taxman: A Guide to Estimated Tax Payments

Missing or underpaying estimated taxes will result in underpayment penalties when you file your return. But several strategies can help...

8 views

Paying Yourself as an S-Corp & Determining a Reasonable Salary (Updated for 2024 With Calculator)

John Summers

Jun 20, 20237 min read

Paying Yourself as an S-Corp & Determining a Reasonable Salary (Updated for 2024 With Calculator)

The primary advantage is bypassing self-employment tax on distributions, which represent your share of profits.

46 views

Deducting Business Losses: How Legal Structure Impacts Your Tax Return

John Summers

May 26, 20234 min read

Deducting Business Losses: How Legal Structure Impacts Your Tax Return

For partnerships and sole proprietorships, business losses flow through directly to owners' personal tax returns, while limitations apply...

9 views

The Complete Guide to Schedule C: Everything the Self-Employed Need to Know

John Summers

May 15, 20235 min read

The Complete Guide to Schedule C: Everything the Self-Employed Need to Know

If you're self-employed, freelance, or run your own small business, chances are you need to file a Schedule C with your annual tax return to

2 views

Tax Efficiency Benefits: LLC to an S-Corp Conversion

John Summers

Feb 15, 20232 min read

Tax Efficiency Benefits: LLC to an S-Corp Conversion

Guided by seasoned tax professionals, Ashley embarked on the journey of converting her LLC to an S-Corp, capitalizing on pass-through taxati

7 views

19 FAQs For Anyone Considering Converting To An S-Corporation - Everything You Need To Know

John Summers

Dec 9, 20224 min read

19 FAQs For Anyone Considering Converting To An S-Corporation - Everything You Need To Know

S-corp owners can claim ordinary and necessary business expenses as deductions, just like other business structures.

24 views

Advantages and Disadvantages of S Corporations in Business Taxation

John Summers

Oct 18, 20224 min read

Advantages and Disadvantages of S Corporations in Business Taxation

S corporations strike a harmonious balance between tax advantages and operational adaptability. Their hallmark, pass-through taxation, liber

18 views

7 Effective Strategies for Small Business Owners to Lower Their Tax Bill

John Summers

Sep 25, 20222 min read

7 Effective Strategies for Small Business Owners to Lower Their Tax Bill

Choosing the right business structure can significantly impact your tax liability. Different structures, like sole proprietorships, partners

4 views

Unveiling the Ideal Business Structure: A Comprehensive Comparison of S-Corps Vs LLCs

John Summers

Sep 14, 20223 min read

Unveiling the Ideal Business Structure: A Comprehensive Comparison of S-Corps Vs LLCs

In a unique twist, some entrepreneurs opt for a hybrid structure—an LLC that elects S-Corp taxation. This allows them to benefit from the ta

8 views