Confused about S Corps?
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Things happen and sometimes we mistakenly pay our business expenses with our personal credit cards. Can we still deduct those expenses even though they were paid from personal funds? The answer is yes - but you need to know an accounting workaround. Let’s break it down step by step so it’s easy to understand. So, what is the issue? Before 2018, you could deduct unreimbursed business expenses on Form 2106 of your personal return. It wasn’t a full deduction, since only the part

Many business owners choose an S Corporation for its tax advantages, but few realize how much upkeep is involved until they’re already in...

Accounting set up is important since this affects your efficiency, your tax planning and tax liability, and your overall efficiency. S...