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Gross Profit

Exploring business entities: Is an S corporation the right choice?

Business Entities, Capital Losses, Fringe Benefits For Employees, Gross Profit, Qualified Business Income Deducton (QBI), S Corporation, Shareholder, Small Business, Small Business Owners, Small Business Stock /

Are you starting a business with partners and deciding on the right entity? An S corporation might be the best choice for your new venture. One benefit of an S corporation One major advantage of an S corporation over a partnership is that shareholders aren’t personally liable for corporate debts. To ensure this protection, it’s crucial to: Handling […]

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Want to turn a hobby into a business? Watch out for the tax rules

AGI (Adjustable Gross Income), Business Plan, Gross Profit, Hobby or Business, Tax Deduction, Tax Planning /

Like many people, you may have dreamed of turning a hobby into a regular business. You won’t have any tax headaches if your new business is profitable. But what if the new enterprise consistently generates losses (your deductions exceed income) and you claim them on your tax return? You can generally deduct losses for expenses

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Put a number on your midyear performance with the right KPIs

Current Ratio, Debt-to-equity Ratio, Gross Profit, Inventory Turnover Ratio, Key Performance Indicator (KPIs), Performance /

We’ve reached the middle of the calendar year. So how are things going for your business? Conversationally you might say, “Pretty good.” But, analytically, can you put a number on how well you’re doing — or several numbers for that matter? You can if you choose and calculate the right key performance indicators (KPIs). 4

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