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
The SECURE 2.0 law, which was enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will… Read More »Planning ahead for 2024 by CPA Daytraders: Should your 401(k) help employees with emergencies?
Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and… Read More »CPA Daytraders: Receive more than $10,000 in cash at your business? Here’s what you must do
If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets.… Read More »Emil @ CPA Daytraders wrote: The advantages of using an LLC for your small business
Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them off for… Read More »Emil @ CPA Daytraders: A tax-smart way to develop and sell appreciated land
If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may end up… Read More »Corporate officers or shareholders: How should you treat expenses paid personally?