by Joan Buchman Miller | Sep 3, 2024 | Accounting, LLC, tax planning
Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability and other issues. For many businesses, a limited liability company (LLC) is an attractive choice. It can be structured to...
by Joan Buchman Miller | Aug 27, 2024 | Accounting, LLC, tax planning
Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through...
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 | Nov 20, 2023 | Accounting, income tax, LLC, S Corporation, tax records
The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners. Rates and brackets If you run your business as a sole proprietorship or pass-through...
by Joan Buchman Miller | Aug 2, 2023 | Accounting, LLC, tax planning
If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets. Or maybe you’re launching a new business and want to know your options for setting it up. Here are the basics of...
by Joan Buchman Miller | Aug 16, 2022 | Accounting, LLC, tax planning
The business entity you choose can affect your taxes, your personal liability and other issues. A limited liability company (LLC) is somewhat of a hybrid entity in that it can be structured to resemble a corporation for owner liability purposes and a partnership for...
