Tax & Accounting Articles

Key Takeaways The QBI deduction (Section 199A) is frequently missed or miscalculated. For a business with $200,000 in qualified income, that’s up to $40,000 in deductions missed. S-Corp

Key Takeaways Tax preparation fees reflect complexity, not arbitrary pricing. An S-Corp return costs more than Schedule C because it involves more forms, K-1s, basis tracking, and reasonable

Key Takeaways CPAs have the broadest training (accounting, auditing, tax) and can handle complex S-Corps, partnerships, and multi-entity structures. EAs specialize in tax and have the same IRS

Key Takeaways All businesses need: income documentation (1099s, sales records), expense receipts, bank/credit card statements, prior year tax return, and EIN confirmation letter. S-Corps additionally need: W-2s for

Key Takeaways The IRS doesn’t recognize “LLC” as a tax classification. Your LLC files based on how it’s classified: disregarded entity (Schedule C), partnership (Form 1065), S-Corp (Form

Key Takeaways Partnerships and S-Corps are due March 17, 2026 (moved from March 15 because it falls on Sunday). C-Corps and individuals are due April 15, 2026. Late

Key Takeaways Single-member LLCs/sole proprietors typically cost $300-$1,500. S-Corps run $1,200-$3,500. Partnerships range from $1,000-$5,000+. C-Corps cost $1,500-$4,000+. Each additional state adds $200-$500+ to your preparation cost, plus

Key Takeaways CPAs have 150 credit hours of education, pass a 4-part exam, and can represent you before the IRS at all levels. Unlicensed preparers only need a