The U.S. Census Bureau reports there were nearly 447,000 new business applications in May of 2025. The bureau measures this by tracking the number of… Read More »Startup costs and taxes: What you need to know before filing
Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld from… Read More »Small business alert: Watch out for the 100% penalty
If you’re getting ready to file your 2024 tax return and your tax bill is higher than you’d like, there may still be a chance… Read More »You may be able to make a deductible IRA contribution for last year this year
As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel expenses are tax… Read More »From flights to meals: A guide to business travel tax deductions
When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships… Read More »Help ensure your partnership or LLC complies with tax law
With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and… Read More »Emil @ CPA Daytraders tips: It’s time for your small business to think about year-end tax planning
Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A major reason is… Read More »Navigating tax complexities: Craft partnership agreements and LLC operating agreements with precision
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain… Read More »Understanding taxes on real estate gains
It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships such as… Read More »When partners pay expenses related to the business
When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need to understand… Read More »Emil @ CPA Daytraders gives you 9 tax considerations if you’re starting a business as a sole proprietor
If you’re getting a divorce, you know the process is generally filled with stress. But if you’re a business owner, tax issues can complicate matters… Read More »Emil @ CPA Daytraders: Divorcing business owners should pay attention to the tax consequences
Let’s say you decide to, or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser or indemnitor… Read More »Guaranteeing a loan to your corporation? There may be tax implications