Education Tax Credits: AOTC vs LLC Explained

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Education-related expenses can be a significant burden for students and their families, but the U.S. tax code offers several tax…

Economic Nexus Thresholds by State: 2025 Update

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In the wake of the 2018 Supreme Court decision in South Dakota v. Wayfair, Inc., states gained the authority to…

Do You Need to File a Tax Return? Minimum Income Requirements

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Understanding when you are required to file a tax return is crucial for ensuring compliance with U.S. tax laws. While…

Do You Need to File 941s or 940s with 1120S? Payroll Tax Overview

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Managing payroll taxes can be a complex task for business owners, especially when dealing with various forms and filing requirements.…

Do Foreign Partners Trigger Additional Forms? (5471, 8804, 8865)

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When U.S. businesses engage with foreign partners or owners, they must comply with additional IRS filing requirements. These forms are…

Dividends, Interest, and Passive Income: What to Report

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When it comes to reporting income for tax purposes, understanding the different types of income—such as dividends, interest, and passive…

Difference Between C Corporations and S Corporations

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Choosing the right business structure is one of the most important decisions a business owner will make. In the United…

Depreciation Rules and Section 179 for Businesses

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Depreciation is a key tax concept that allows businesses to recover the cost of certain assets over time. Instead of…

Deducting Business Meals, Travel, and Entertainment

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For many businesses, meals, travel, and entertainment expenses are necessary and ordinary costs required to operate, build relationships, and grow.…

Data Security and Compliance in Offshore Tax Return Outsourcing

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Outsourcing tax return preparation to offshore teams has become a common practice for many U.S.-based CPA firms and businesses. It…

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