What Triggers The IRS To Audit?
The IRS (Internal Revenue Service) may choose to audit a tax return for various reasons, and there isn't always a single trigger that leads to an audit. However, certain factors or red…
July 29, 2022
What Can You Write Off For LLC Business?
As an LLC (Limited Liability Company) owner, you can typically write off various business expenses on your tax return, subject to IRS rules and limitations. These deductions can help reduce your LLC's…
July 28, 2022
What Can Be Written Off LLC?
As an LLC (Limited Liability Company) owner, you can typically deduct various business expenses on your tax return, subject to IRS rules and limitations. Here are common types of expenses that can…
July 27, 2022
Is It Worth Buying A Car Through My Business?
Whether it's worth buying a car through your business depends on various factors, including your business needs, financial situation, tax implications, and personal preferences. Here are some considerations to help you decide...…
July 26, 2022
When Can I Start Deducting Business Expenses?
You can start deducting business expenses as soon as your business is operational and actively engaged in income-generating activities. The IRS allows businesses to deduct ordinary and necessary expenses incurred in the…
July 25, 2022
Can An LLC Use Turbo Tax?
Yes, an LLC (Limited Liability Company) can use TurboTax to file its taxes, depending on the LLC's tax classification and filing requirements. TurboTax offers various software products tailored to different types of…
July 24, 2022
What Is The Difference Between Self-employed And Business Owner?
The terms "self-employed" and "business owner" are often used interchangeably, but they refer to different aspects of entrepreneurship and business ownership. Here's a breakdown of the key differences between being self-employed and…
July 23, 2022
Which Is Better For Taxes LLC Or S Corp?
Deciding whether an LLC or an S corporation (S corp) is better for taxes depends on various factors, including your business's specific circumstances, financial goals, and tax considerations. Both LLCs and S…
July 22, 2022
What Is The Best Tax Form For LLC?
The best tax form for an LLC depends on several factors, including the number of owners (members), how the LLC elects to be taxed, and the business's financial situation. Here are the…
July 21, 2022
How Much Should I Set Aside For Small Business Taxes?
Setting aside funds for small business taxes is essential for managing your cash flow and ensuring that you can meet your tax obligations when they become due. The amount you should set…
July 20, 2022
