Category: US Taxation

Running an S Corporation (S-Corp) offers numerous tax advantages, especially when it comes to how business owners pay themselves. One of the most crucial decisions S-Corp shareholders face is determining the right balance between salary and distributions. This balance can...

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The Earned Income Tax Credit (EITC) is one of the most powerful tools for reducing tax liability and increasing refunds for low to moderate-income earners. Whether you're a single filer, a head of household, or part of a family with...

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Managing sales tax compliance across multiple e-commerce platforms like Shopify, Amazon, and Etsy can be overwhelming for sellers. Each platform has different rules, transaction flows, and reporting formats. Integrating a robust sales tax software solution can streamline tax collection, filing,...

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When tax season approaches, proper handling of employee and contractor payments becomes critical. Business owners need to comply with IRS reporting requirements for W-2s, 1099s, and related filings. Failing to issue these forms accurately and on time can result in...

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Sales tax audits can be a nerve-wracking experience for any business owner. These audits are typically initiated by state tax authorities to ensure that businesses are collecting and remitting the appropriate amount of sales tax. If you operate in multiple...

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Starting an e-commerce business is an exciting venture, but it comes with several tax responsibilities that entrepreneurs often overlook. If you’re selling products online—whether physical or digital—you may have obligations for both sales tax and income tax, and it’s essential...

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Net Operating Losses (NOLs) are a powerful tax tool for corporations that have experienced more deductions than income in a given tax year. For C corporations filing IRS Form 1120, properly handling NOLs can result in significant tax savings by...

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Receiving a letter from the IRS can be stressful, especially when it involves an audit or a CP2000 notice. These communications indicate that the IRS has found a discrepancy or needs more information about your tax return. While this situation...

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Filing your federal income tax return in 2025 may feel overwhelming, especially with evolving tax codes, credits, and forms. Whether you're filing as an employee with a W-2, self-employed with a 1099, or someone managing investments, understanding the steps involved...

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IRS Form 1065 is the U.S. Return of Partnership Income. Partnerships in the United States—including limited partnerships (LP), limited liability partnerships (LLP), and general partnerships—must file Form 1065 annually to report the business’s income, deductions, gains, and losses. Although the...

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