Question from a web visitor: why is the deduction for 1/2 of self-employment tax taken on the front side of the 1040 and not on the proprietorship’s Schedule C?
Many of the business clients I work with are either side businesses, or side businesses that are turning into "real" businesses. I've written before about the struggle of taking a side business and turning it into something more. Today, I'm going to write about the choices a business owner has with their side business when they [...]
A few years ago, towards the end of the year, I got a voicemail from a frustrated business client. The profanity laced message went something like this: “I’m sick of this $hit and want to sell this f___ing business. I can’t take it any more. I want to get together to talk about closing or just [...]
To understand estimated tax payments and why you might need to make them, one needs to understand how taxes work.
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.