by PSA CPA | Jul 1, 2024 |
The way you manage your taxes and record-keeping can have a significant impact on your performance as a small business owner. Look out for these typical tax errors that proprietors of small businesses make. Choosing the wrong form of business Everybody seems to have...
by PSA CPA | Jul 1, 2024 |
Every small business owner eventually becomes concerned about their company’s tax ramifications, as well as the need to manage accounting and other demands. Attempting to manage these responsibilities alone can result in a great deal of inefficiency and...
by PSA CPA | Jul 1, 2024 |
As a self-employed business consultant, you probably assume a variety of positions and titles. Your clients count on your industry knowledge to boost output and boost sales and profitability for their businesses. However, for tax deduction and reporting purposes, you...
by PSA CPA | Apr 1, 2024 |
Comptroller Brooke E. Lierman has stated that the Office of the Comptroller will waive late payment penalties and interest for Maryland businesses until May 31, 2024, to address the economic effect of the Francis Scott Key Bridge collapse. According to investigators,...
by PSA CPA | Mar 1, 2024 |
What is the qualified business income deduction? The Qualified business income deduction (QBI) allows self-employed and small-company owners to deduct up to 20% of their qualified business income from their taxes. In general, to qualify, total taxable income in 2023...
by PSA CPA | Mar 1, 2024 |
Sole proprietorship taxes differ from other business entities, such as corporations, in that the business is not taxed separately from the owner. Instead, you record and pay your single proprietorship taxes on your personal tax return. To explain, the IRS refers to...
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