For nearly 4 months I've been posting excerpts from a presentation I give to entrepreneurs trying to get businesses off the ground. Because the posts are scattered across many weeks, this post serves as a reference point to pull them all together. Part 1: Proper Recordkeeping Part 2: Scanned Copies of Receipts Part 3: Bookkeeping Systems [...]
To understand estimated tax payments and why you might need to make them, one needs to understand how taxes work.
Iowans who receive pension income from the military can exclude that income from taxation on their Iowa tax return. Does Coast Guard pay count toward this? Yes.
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.