Pitfalls of Solo S Corporations: Are You Paying Yourself Enough, If At All?

Many small business owners opt for an S corporation over other entity types. It's estimated that about 5 million American businesses operate as S corps, almost three times as many C corporations. One ...
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The Taxation and Business Environment of Washington D.C.

When deciding where to move or open a business, taxes may not always be the deciding factor but certainly help inform your decision. With the rise of "Zoom towns" in other parts of ...
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How Did the Wayfair Supreme Court Case Impact Sales Tax Collection for Small Businesses?

In 2018, the Supreme Court ruled 5-4 in Wayfair v. South Dakota that state governments can mandate that retailers outside of their state to collect and remit sales tax from in-state customers, even if ...
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Understanding the FICA Tip Credit for Restaurants, Bars, and Other Food and Drink Establishments

With the official name of Credit for Portion of Employer Social Security Paid with Respect to Employee Cash Tips, the informally-dubbed "FICA tip credit" is a tax benefit for employers in the food ...
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When Should You Start to Outsource Your Accounting?

With so many different apps and online accounting and recordkeeping solutions for small businesses and freelancers today, many are putting their accounting matters into their own hands. For freelancers in particular, keeping track ...
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What Taxes Do 1099 Employees Pay?

According to one recent study, about 36% of all workers in the United States are currently involved in the gig economy. In 2018, Americans spent literally billions of hours per week freelancing - ...
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