Can You Deduct Home Office Expense If You Didn’t Earn Any Income?
If you have no taxable income, should you claim the home-office tax deduction? Answer: yes. Even with no taxable income, [...]
What Should You Do If Your K-1 Does Not Include The Qualified Business Deduction?
Tax reform’s Section 199A deduction often confuses small-business owners and tax professionals alike. It’s quite possible you’ll get a Schedule [...]
How the New Tax Laws Affect Loaning Your Company Money
Making loans to your corporation became more hazardous 33 years ago with the Tax Reform Act of 1986. But the new [...]
Reimburse Your Employees for Education and Training
As a small-business owner, you probably incur work-related education expenses from time to time. You may even decide to pursue [...]
New Tax Cut and Jobs Act (TCJA)
The Tax Cuts and Jobs Act (TCJA) tax reform added an amazing limit on larger business losses that can attack [...]
Rental Arrangements to Lower Your Self-Employment Taxes
As a sole proprietor, you know that the 15.3 percent self-employment tax can eat up your profits in a hurry. [...]
Simple Rules for Financial Security
Managing your money doesn’t have to be complicated. A few simple steps can help you achieve financial peace of mind. [...]
Is it Worth Amending Your Tax Return?
Whether you feel that it is worth it or not to file an amended return is not the issue. The [...]
Does Your Business Qualify for a 20 Percent Tax Deduction?
The 20 percent tax deduction under new 2018 tax code Section 199A is a nice tax break for business owners, [...]
How to Get Out of an IRS Penalty
You hate IRS penalties, right? Everyone does! There are a lot of strategies we can use on your behalf to [...]