by Chris Dios | Dec 6, 2021 | Business and Finance
The House of Representatives recently passed the Build Back Better Act, which aims to increase the social safety net and fight climate change. The bill included significant changes to the US tax code in an effort to cover the cost of the legislation. The most notable...
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by Chris Dios | Nov 22, 2021 | eCommerce
eCommerce businesses often start out small, but growth often comes quickly for successful businesses. Eventually, the time comes for many online vendors to form an entity for their eCommerce business. However, choosing the right entity requires some careful...
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by Miguel Alex Centeno | Nov 8, 2021 | IRS
The R&D tax credit was implemented in 1981 as a means to encourage businesses to increase innovation investments. However, the IRS recently announced new R&D tax credit guidelines that could have major implications for businesses hoping to claim this valuable...
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by Chris Dios | Sep 19, 2021 | eCommerce
If you sell goods online, you’ve likely dealt with collecting and remitting sales taxes on customer purchases. But, as a reseller, an option exists to avoid paying sales taxes on your own eBay purchases. By becoming tax-exempt, you can potentially avoid sales tax when...
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by Chris Dios | Sep 7, 2021 | Business Tax
The COVID-19 pandemic and associated lockdowns have harmed a significant number of American businesses. Recognizing this reality, Congress created a variety of tax breaks to assist small businesses, including the recovery startup credit. In particular, the Employee...
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by Ashton Chanana | Jul 23, 2021 | Tax Stories
Whether business is up, or business is down, free money is free money. When COVID peaked, and the government gave out free loans that you didn’t have to pay back. Was there any reason not to take this free money? When you consider that much bigger, richer...
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by Chris Dios | Jul 2, 2021 | Business and Finance
Most businesses own some form of property. Inevitably, many businesses sell their property at some point. When they realize a gain on sale, the IRS wants its cut of the income. Accordingly, businesses need to report gains on the sale of business property when they...
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by Chris Dios | Jun 25, 2021 | Business Tax
When people hear the term earnings, they usually think of the money earned by an individual or company. For example, an employee earns money by selling products, providing services, etc. However, the retained earnings formula will calculate something else entirely....
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by Miguel Alex Centeno | Jun 13, 2021 | Accounting
As a business partner or investor in a limited liability company (LLC) or limited liability partnership (LLP), you’ve likely heard the term “materially participate.” But what does material participation mean? If you don’t know and aren’t...
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by Miguel Alex Centeno | Jun 4, 2021 | Business Tax
The COVID-19 pandemic and associated lockdowns significantly hurt American small businesses. To help, the federal government implemented a variety of tax relief measures. The Employer Retention Tax Credit provides a major tax break to particularly hard-hit businesses....
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