By month: December 2021

When Is a Partner in a Partnership a 1099 Worker?

In this article, you will learn when a partner can deduct unreimbursed partner expenses (UPE) and when the partnership can treat certain activity as if the partner were a 1099 independent contractor.

Tax Credits for Schedule C Business Owners with Employees

The incredibly valuable employee retention credit is over except for new start-up businesses, but there are several other credits you can claim when you hire an employee to work in your Schedule C business. And you may be able to claim more than one credit.

Make Extra “Catch-Up” Contributions to Retirement Accounts: We Quantify the Benefit

If you are in the age category that allows the extra contribution (known as the “catch-up contribution”) to your retirement account, make sure to examine the financial benefits as explained in this article.

Say Goodbye to the ERC for the Fourth Quarter

Okay, those rascals in Congress retroactively eliminated the employee retention credit (ERC) for the fourth quarter of 2021, but don’t let that deter you from claiming your credits from the other three quarters of 2021 and one quarter of 2020. There’s plenty of time to make your claims.

Selling Appreciated Land? Use the S Corporation to Lock in Favorable Capital Gains Treatment

Learn how to use the S corporation to cut your taxes when you have appreciated land that you will develop and sell.

10 Tax Strategies for Schedule C Taxpayers: What, How, and Where

Use these 10 strategies on your Schedule C business to generate tax savings.

Avoid This Husband-and-Wife LLC Mistake

Is the husband-and-wife LLC taxed as a partnership a good entity to create tax-deductible Section 105 medical plan reimbursements?

Little-Known Rule Can Reduce Your Principal Residence Tax Break

The tax code has rules that have changed over the years and that can affect how much you pay in taxes when you sell your principal residence. In this article, we focus on helping you with the least-known of these rules.

Updated: Download IRS Key Contact Information and Helpful Links

Would you like to have at your fingertips updated IRS key contact info and helpful links for information about amended returns, estate and gift taxes, tax transcripts, power of attorney, stimulus checks, tax help for businesses, and many other topics? If so, download the PDF linked in this article.

Six Tax Credits for Schedule C Businesses without Employees

There are dozens of tax credits for businesses. Most of the tax credits are highly specialized or are only for businesses with employees. This makes it hard to find those credits for small businesses, particularly Schedule C businesses. But in this article, you will find six credits that Schedule C businesses without employees can claim.


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