Many S Corporation owners pay business expenses with personal funds and advance or reimburse themselves. At tax time, they would owe personal tax on the advance or reimbursement. With an Accountable...
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Planning ahead for your tax filings! Be aware of the 2025 tax deadlines to file your taxes for 2024 on time. Below are the key due dates you need to know for your tax filings for the 2023 tax year....
Most US entrepreneurs and small business owners set up an LLC when they want to “make it legal”. LLCs are easy and comparably cheap to set up and operate. They can also be tax efficient, especially...
By Vincenzo Villamena, CPA When starting an Amazon business, every seller needs to understand the available business structures and Amazon seller tax implications. The best business structure for...
Selling online through Amazon, eBay or any e-commerce site offers a great opportunity to make a location-independent income. If you are selling online in the US market and generate a steady income,...
Do you live abroad or travel the world and work for yourself? Don’t overlook self-employment tax on foreign income! A common misconception among expats and nomads is that the first $100,000 of...
Here are our 5 year-end tax tips for entrepreneurs: (You can read about year-end tax planning for individual US taxpayers here.) 1. Maximize your retirement savings Entrepreneurs have unique...
Many US entrepreneurs set up an LLC in the beginning because it is straightforward and not too expensive. Generally, this is a good approach for the start as LLCs offer liability protection and...
One of the most frequent questions business owners ask is which business expenses they can deduct to reduce their taxable income. If you are a US taxpayer with a business, either in the US or...
Attention US owners of foreign companies! If you haven't already heard about it, brace yourself for IRS Form 5471 - one of the most complex and constantly changing tax forms that US-owned foreign...
Not all American expats are employed by big companies. Actually, many run their own business while living outside the USA. If you own a business overseas or run your US business from abroad,...
