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Things Tax Preparers Say: “S-Corp Reasonable Comp is 25% of Your Gross Income”

By | February 21st, 2017|Categories: Small Business Tax and Accounting|Tags: , |

S-corporation reasonable compensation is one of the most misunderstood concepts in tax law. And that's saying something, considering how mind-numbing U.S. tax laws are.

Glossary: Intangible Asset

By | February 17th, 2017|Categories: Glossary|Tags: , , , |

One way of looking at intangibles is, they are business assets that cannot be physically touched.

Proper Documentation of Charitable Contributions

By | February 15th, 2017|Categories: Potpourri of Tax Topics|Tags: , , , |

Questions often arise about how to properly document charitable contributions. Here’s a brief overview.

How to Calculate Estimated Tax Payments

By | February 13th, 2017|Categories: Small Business Tax and Accounting|Tags: , , |

A common question from business owners is, how and when do I calculate quarterly estimated tax payments?

Getting Your Business Off to a Good Start, Part 7: Operating in Other States

By | February 9th, 2017|Categories: Small Business Tax and Accounting|Tags: , |

The biggest question to answer when it comes to operating in other states is to determine if you’re “doing business” in another state. In general, if you’re “on the ground” in another state providing a service or selling your product, you probably have a business presence in that state.