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Profit losses

Don’t let the IRS treat your sideline as a hobby

Leave a Comment / Safe Habor, Side "Gig", Small Business, Small Business Owners, Small Business Tips, Tax Return /

Do you operate a side gig in addition to your regular day job? Whether you’ve turned a love for crafting into an online store or you play the guitar at a local venue, you’ll need to report the income from your sideline activity on your tax return. But can you deduct the related expenses? The […]

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Is an S corporation the best choice of entity for your business?

Business Income Tax, S Corporations, Small Business, Tax Deduction, Tax Planning /

Are you thinking about launching a business with some partners and wondering what type of entity to form? An S corporation may be the most suitable form of business for your new venture. Here’s an explanation of the reasons why. The biggest advantage of an S corporation over a partnership is that as S corporation

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