Insights · Page 8
Practical perspectives on tax, finance, and business — written by the people who work in it every day. 92 articles in the archive.
-
Accounting Nov 15, 2023Pros and Cons of Outsourcing Accounting Services
Many smaller businesses are opting for outsourced accounting services and enjoying the advantages that were once exclusive to mid-market and large enterprises.
Read more -
Accounting Nov 7, 2023What Is an Accounting System?
An accounting system provides the framework for managing the financial activities of a business, encompassing income, expenses, and various other financial transactions.
Read more -
Real Estate Accounting & Taxes Oct 31, 2023Understanding the Passive Activity Loss Rule for Real Estate
One key tax rule that every real estate investor should be familiar with is the passive activity loss rule. This rule has become particularly pertinent due to the growing prevalence of Florida-based short-term rentals on platforms like Airbnb and Vrbo®.
Read more -
Entity Structuring Oct 23, 2023S Corp vs LLC – Which is the Right Entity for You?
When starting a business, one of the crucial decisions you’ll face is choosing the right legal structure for your company, and two popular options for entrepreneurs and small business owners are S corporations (S corps) and limited liability companies (LLCs).
Read more -
Entity Structuring Oct 17, 2023Top 8 Tax Benefits of an LLC in Florida
If you’re considering forming an LLC (limited liability company) in Florida, it can be helpful to know that there are several tax benefits associated with this business structure.
Read more -
Entity Structuring Oct 11, 2023S Corp vs C Corp Tax Advantages Overview
When establishing a business, choosing between two prominent corporate structures—S corporation (S corp) and C corporation (C corp)—is a pivotal decision.
Read more -
Real Estate Accounting & Taxes Oct 5, 2023Short-Term Rental Tax Loophole Explained by Expert CPAs
The short-term rental tax loophole is an often misunderstood and complex issue in the world of real estate investments. As a property owner, understanding the ins and outs of this tax regulation can make a significant difference in your financial bottom line.
Read more -
Entity Structuring Feb 23, 2022Is an S-Corporation right for you?
Self-employment tax for tax year 2021 is 15.3% and is comprised of two components, social security (12.4%) and Medicare (2.9%). In short, the IRC (Internal Revenue Code) essentially deems all payments made to shareholders of an S corporation as wages that are subject to…
Read more