Don’t miss out today on claiming up to $21,000 per employee with the 2021 Employee Retention Credit. The window to make your claim is closing fast! Learn how your business can qualify and secure this substantial tax credit before it’s too late.

Ordinarily, the income generated by the assets in an IRA accrues tax-free. But IRAs must pay a special unrelated business income tax when they earn profits from investments in active pass-through businesses or when they use debt financing to purchase real estate or other assets.

Are you aware of the latest tax-related changes for 2025? Tax penalties can cost you thousands if you’re not prepared. Discover the penalties to which you are exposed because you are a taxpayer.

As a small-business taxpayer, you likely have control of your business. With control, you can do much to increase your tax benefits with a qualifying heavy vehicle and a certain type of office in your home. So if you’re looking for some major tax savings, you will find a path to them in this article.

Discover the best way to pay yourself from your business based on your entity type. Learn the key differences between FICA and self-employment taxes, and avoid common payroll mistakes for sole proprietors, LLCs, partnerships, and S corporations.

If you are self-employed or a single-member LLC taxed as a proprietorship and your spouse is your only eligible employee, you are in a unique position to deduct your health insurance costs. While there are many ways to get that coverage, one way—a properly established proprietorship reimbursement arrangement—can lead to three (possibly four) significant tax advantages for the business owner and spouse.

Are you maximizing your retirement savings? With our “Retirement Plans – 2025” desktop reference, you’ll have everything you need—clear contribution limits, tailored strategies for business owners, and updates from the SECURE Act 2.0—to make smarter savings decisions and better secure your future.

If you are a partner in a partnership or a member of a multimember LLC taxed as a partnership and you personally pay for business expenses, you generally cannot deduct those expenses on your personal tax return. But you may deduct them if your LLC or partnership has a clear policy—either written or established as an unwritten practice—stating that although these may be legitimate partnership or LLC expenses, it will not reimburse you for them.

Starting a business is exciting, but knowing the rules about when it officially begins is critical for taxes. A recent case highlights how not knowing the rules can lead to your saying goodbye to tax deductions.