By month: December 2021
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.
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.
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.
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.
Learn how to use the S corporation to cut your taxes when you have appreciated land that you will develop and sell.
Use these 10 strategies on your Schedule C business to generate tax savings.
Is the husband-and-wife LLC taxed as a partnership a good entity to create tax-deductible Section 105 medical plan reimbursements?
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.
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.
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.