Understanding how CFC income is taxed and reported on Form 5471—calculations, schedules, and planning strategies, including 2026 NCTI changes under the One Big Beautiful Bill Act Quick Facts:
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Form 5471 Categories of Filers: Determine Your Filing Requirements
Navigate the five IRS categories to understand exactly when and what you need to file for your foreign corporation interests Quick Facts: 5 Categories of filers 10% ownership threshold for
The $60,000 Question: Determining Your S-Corp Reasonable Salary in 2025
TL;DR Summary S-Corp reasonable salary is the market-rate compensation you must pay yourself before taking distributions, typically ranging from $40,000-$150,000+, depending on your role, industry, and location. The
Catch-Up Bookkeeping for Small Businesses: The Complete Guide to Getting Back on Track
TL;DR Catch-up bookkeeping involves organizing and updating months or years of neglected financial records to create accurate, compliant books. Most small businesses can get caught up within 2-4
The Complete Independent Contractor Tax Guide 2025: Save Thousands with Smart Planning (Free Tracker Included)
TL;DR Independent contractors face unique tax challenges including quarterly payments, self-employment tax, and complex deductions. This guide covers everything from choosing the right tax forms to maximizing write-offs
S Corporation vs LLC for Texas Businesses: Complete 2025 Tax & Legal Guide
TL;DR Texas business owners choosing between LLC and S Corp structures face a critical decision impacting taxes, compliance, and growth potential. LLCs offer simplicity and flexibility, but subject
How to Find the Best Business Accountant Near You in Texas
TL;DR For busy Texas business owners, finding the right accountant requires looking beyond a simple search for a “business accountant near me.” The key is to verify Certified
Section 179 Tax Deduction for Vehicles Over 6,000 lbs: Complete 2025 Guide After Trump’s Big Beautiful Bill
TL;DR Following the One Big Beautiful Bill Act signed July 4, 2025, Texas small businesses now enjoy unprecedented tax benefits for heavy vehicle purchases. Section 179 expensing caps
How to File Small Business Taxes in Texas: Complete 2025 Guide from a Dallas CPA
TL;DR Texas small businesses face unique tax requirements that differ significantly from other states. Unlike most states, Texas has no corporate income tax but requires franchise tax for
How Trump’s One Big Beautiful Bill Transforms Small Business Taxes in 2025
TL;DR Trump’s One Big Beautiful Bill Act, signed July 4, 2025, delivers massive tax savings for Texas small businesses through permanent 20% pass-through deductions, restored 100% bonus depreciation,