An accounting method is the system a business uses to record income and expenses for financial reporting...
Solo 401(k) plans provide flexible options for loans and distributions, but following IRS guidelines...
SEP IRA and SIMPLE IRA are two common retirement plans tailored for small businesses, each with distinct...
The Thor Power Tool Rule is an IRS tax regulation that limits when businesses can write down inventory...
The De Minimis Safe Harbor rule lets small businesses deduct the cost of low-value tangible assets immediately...
Accountable and non-accountable plans define how employee reimbursements are taxed and reported. Understanding...
At-risk rules limit the deductible losses S Corporation shareholders can claim, restricting them to the...
Distinguishing between hobby loss rules and business loss rules is essential for accurate tax reporting...
A Specified Service Trade or Business (SSTB) is a business category subject to special IRS rules that...
The Qualified Business Income (QBI) deduction allows eligible landlords to deduct up to 20% of net rental...