Partners reconciling their schedule k-1 income

K-1 Income And Calculating Tax Basis

At the start of the year, business owners are issued Schedule K-1 income earned from a partnership or S Corporation. In this guide, we will navigate you through how to figure out your K-1 basis for tax reporting.

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Accountants choosing forms for home sharing taxes on towel swans

Home Sharing Taxes: Schedule E vs Schedule C

Home sharing is a lucrative sport in real-estate, but it could bring sticker shock on tax day. Whether you are passively earning home share income or are a property slinger on sites like Airbnb or VRBO, this is everything to know about filing home sharing taxes.

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Accountants filling out a schedule c for shopify store taxes

Filling Out A Schedule C For Shopify Store Taxes

By filing your Shopify store taxes properly you could reduce your tax liability every year. Here we show you how fill out your Shopify Schedule C, calculate COGS, make deductions, and apply tax strategies that have the potential to cut your tax bill by 10-15%.

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accountants working on estimated taxes

Estimated Taxes For The Savvy Taxpayer

As a busy entrepreneur leading your company, your hard work is rewarded with a nice paycheck. Since your income is self-made it isn’t subjected to withholdings. So when your income meets certain conditions you need to be paying estimated taxes.

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Accountants jumping around the blockchain paying crypto tax

Cryptocurrency Tax: Capital Gains And Ordinary Income

The IRS is cracking down on cryptocurrency tax reporting. If you are an individual or business you need to be aware of the tax implications of your investments. Here is your guide to filing Form 8949 for cryptocurrency gains tax, crypto payroll tax, and ordinary income tax.

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Taxes For Foreign Sellers On Amazon

Taxes For Foreign Sellers On Amazon

So you sell on Amazon and want to expand to the U.S. market, but are sweating bullets about taxes. This will be a walk-thru of how to setup your store and pay U.S. taxes, for all non-resident foreign sellers on Amazon.

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how to fill out schedule c for the amazon seller

How To Fill Out A Schedule C For The Amazon Seller

Your eCommerce business is hectic enough, now throw Amazon seller taxes into the mix. All those nuance fees and refunds, where to put them on a Schedule C for the Amazon seller? If you are filing a Schedule C here is your explainer.

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character taking an owner draw out of a business piggy bank

All About The Owners Draw And Distributions

For this article, we will be focusing on owner investment drawings. An owners draw can be used for a number of reasons—the main benefit is they are tax-free at distribution. Here is what you should know about paying, reporting, and filing this event.

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A character throwing use tax vs sales tax out the back of a truck at the state line

Use It And Lose It: Use Tax Vs Sales Tax

Sales tax isn’t on the receipt—that doesn’t mean you won’t owe tax! Use tax is a sneaky transaction tax that many business owners don’t see coming. This is your guide to understanding use tax vs sales tax. 

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self employment tax treatment

The Self Employment Tax Treatment

Being self-employed means you carry the business on your back. The self-employment tax rate sucks the fun right out of being your own boss. But it isn’t so bleak when you know how to treat SE earnings so you save on taxes.

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