Do You Want To Go Into Business For Yourself?
Many of the people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that type of business entity. 1. You may qualify for the pass-through deduction. To the extent your business generates qualified business income; you are eligible to claim the 20% pass-through deduction, […]
Do Your Employees Receive Tips? You May Be Eligible for a Tax Credit
Do you own a business where tipping is customary for serving food and beverages? You may qualify for a tax credit involving the Social Security and Medicare (FICA) taxes you pay on your employees’ tip income. How the credit works The FICA credit applies with respect to tips that your employees receive from customers in […]
