by Joan Buchman Miller | Mar 18, 2024 | Accounting, LLC, S Corporation, tax planning
The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So if you’re eligible, you want to make the most of the deduction while it’s still on the books because it can potentially be a big...
by Joan Buchman Miller | Feb 22, 2024 | Accounting, tax planning
A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit $928.4 billion by 2030, according to a report from Research and Markets. If you own your own company and travel for...
by Joan Buchman Miller | Feb 12, 2024 | Accounting, tax planning
Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes. The cash method often provides significant tax benefits for eligible businesses, though some may...
by Joan Buchman Miller | Feb 5, 2024 | Accounting, employees, home office, tax planning, tax records
When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need to understand the tax issues involved. Here are nine considerations: You may qualify for the pass-through deduction. To...
by Joan Buchman Miller | Jan 29, 2024 | Accounting, employees, tax planning
The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable struggling businesses to retain employees. Even though the ERTC expired for most employers at the end of the...