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TaxConnections Worldwide Directory of Tax Professionals is an authority site of tax advisors from around the world. As the leaders in our market vertical, you can find and interact with tax professionals in corporations, law firms, public accounting firms, tax services firms, government and academia in one click. Through our innovative technology, we maximize the exposure of a tax professional’s expertise and services to the more than one billion people who go online for tax advice each year.
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Self-Employed? 5 Easy Ways to Lower Your Tax Bill
If you’re like most small business owners, you’re always looking for ways to lower your taxable income. Here are five ways to do just that. 1. Deducting the Cost of a Home Computer If you…
A Review of Significant TCJA Provisions Affecting Small Businesses
Now that small businesses and their owners have filed their 2017 income tax returns (or filed for an extension), it’s a good time to review some of the provisions of the Tax Cuts and Jobs…
Partnerships and Pass-through Entities: What Do You Do?
Question: Jane is a Partner in a partnership with a July 31 year end. What information does she use to calculate the Sec. 199A deduction she claims on her 2018 Form 1040, U.S. Individual Income Tax Return?…
How Organizations Are Classified as Partnerships
An unincorporated organization with two or more members is generally classified as a partnership for federal tax purposes if its members carry on a trade, business, financial operation, or venture and divide its profits. However,…
When Is It Time to Become an S Corporation?
For most new businesses and business owners, keeping it simple is key. After all, launching a new business requires attention to detail and doing many things right. For that reason, most new businesses start out…
The Top 10 Self-Employed Tax Questions and Answers
A lot of us fancy having our own business. The idea of being your own boss is quite a strong motivating factor. But there is no denying the fact that you have to take care…
Tax on Holiday Bonus
A large number of companies provide their employees with holiday bonus or end of the year bonus. In fact, a study states that about 80% of the companies do this. It always feels good when…
Real Estate Expenses During Pre-Acquisition
There are various real estate expenditures that are deductible to the corporation and others that are capitalized or allocated to inventory. In this FAQ, we will discuss the real estate expenses that are deductible during…
Why It Is Important to Keep an Eye on Your Cash Flow
If profits are up and the projections look good for the next month or two, should you kick back and relax? Maybe not. No matter how positive other signs may be, if you’re not keeping…
Reduce Risk by Segregating Assets in a New Entity
The Problem: Often business owners want to segregate valuable assets from potential adverse liabilities generated in the operation of a business. For example, a bakery will likely own: (1) equipment used in its operations; (2)…