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Filing Your BOI Report
Filing Your BOI Report Did you know the Financial Crimes Enforcement Network has provided a new requirement? As of January 1st, 2024, small businesses may have to file what’s called a BOI (beneficial ownership information) with the government. This will
Fuel Expense Write Off or a Mileage Tax Deduction?
Fuel Expense Write Off or a Mileage Tax Deduction? For people who use vehicles for work, their vehicle costs, and money spent on gas can all be significant expenses by the end of the year. Understanding how to calculate costs
Benefits Of Opening An S-Corp
Benefits Of Opening An S-Corp Are you considering becoming an S-corporation? By exploring its tax benefits, liability protection, and operational flexibility, we will highlight why an S-Corp can be an ideal choice for many entrepreneurs. Whether you’re starting a new
Tax Saving Strategies for Small Businesses By End Of Year
Tax Saving Strategies for Small Businesses By End Of Year As any small business grows, its tax liability does as well. Taking proactive steps to manage your tax situation can help avoid unexpected expenses that can make managing your business
Considerations When Adding Children To Your Payroll As A Small Business
Considerations When Adding Children To Your Payroll As A Small Business Whether you’ve had a small business for decades or you’re a relatively new company, there will certainly come a time when someone suggests that you add your children to
What Is Reasonable Compensation For An S Corporation?
What Is Reasonable Compensation For An S Corporation? An S Corp election means the business profits and losses are passed through to the shareholders, who then report them on their individual tax returns. This is very different from a traditional