by Tabitha Regan, CPA | Jul 2, 2024 | Small Business
If you’re self-employed or own a small business, you’ve probably considered establishing a retirement plan. If you’ve done your homework, you likely know about simplified employee pensions (SEPs) and savings incentive match plans for employees...
by Laxmi Patel | Jun 26, 2024 | Accounting, Small Business
The Qualified Business Income (QBI) deduction, otherwise known as Section 199A, was introduced under the Tax Cuts and Jobs Act of 2017. This deduction allows owners of pass-through entities to claim a deduction of up 20% of qualified business income. Criteria for the...
by Tabitha Regan, CPA | Mar 12, 2024 | Small Business, Tax Planning
In the complex world of tax regulation, understanding the interplay between state and federal tax systems is crucial for businesses seeking to optimize their tax strategies. For S-Corporations, LLCs and Partnerships, state pass-through entity (PTE) tax elections...
by Tabitha Regan, CPA | Jan 29, 2024 | Featured, Small Business
Our tax experts have gathered top tips for bonus depreciation, vehicle limits, special bonus depreciation allowance, and depreciable business purchases. Accelerated depreciation methods, including Section 179 expensing and bonus depreciation, offer valuable tax-saving...
by LittleOwlCPA Admin | Nov 3, 2023 | Small Business
As a small business owner running an S-Corporation, you may be familiar with the unique tax advantages this entity structure offers. S-Corporations provide pass-through taxation, allowing profits and losses to be passed directly to shareholders, avoiding double...
by LittleOwlCPA Admin | Oct 13, 2023 | Small Business, Tax Planning
Selling a business can be a significant milestone in an entrepreneur’s journey. Whether you are retiring, pursuing new opportunities, or simply looking for a change, it’s essential to navigate the sale process with careful planning and execution. In this...
