Filing taxes for your LLC as an S Corp allows an owner-operator to designate him- or herself as an employee of the LLC yet to still report the income of the business on their personal tax return. S ...

The post-pandemic years have shown an inverted trend from the last 50 — instead of declining entrepreneurship rates, more and more people these days are starting to work for themselves. Nearly 1.5 ...

Another distinction lies in flexibility. LLCs allow owners to reinvest profits or distribute income in a variety of ways, ...

Self-employed entrepreneurs often leave money on the table for reasons that have little to do with how hard they work and ...

Last week, the IRS announced “the start of a sweeping, historic effort to restore fairness in tax compliance by shifting more attention onto high-income earners, partnerships, large corporations and ...

What is self-employment tax? The federal self-employment tax is composed of Social Security and Medicare taxes, which are also known together as the Federal Insurance Contributions Act (FICA). For ...

The Tax Court recently ruled that a limited partner’s share of business income may be earnings from self-employment. 1 Earnings from self-employment are subject to the self-employment tax. Earnings ...

Tax-paying small business owners and self-employed individuals in the United States are one of the most important facets of the nation's economy. The Internal Revenue Service has outlined specific ...

With many available options, the best tax approach will be comprehensive and proactive, but you can’t do it alone. You’ll need to enlist the guidance of a knowledgeable tax professional to proceed ...

Damien has secretly worked multiple remote jobs, earning six figures on and off for years. To reduce his hefty tax burden, he's used several strategies, including maxing out his 401(k). Damien, who ...