Karla Dennis, EA, MST, is CFO/CEO of the award-winning tax accounting firm KDA Inc.—specializing in tax planning. Business owners, it’s time to talk about one of the most powerful deductions still on ...

The One Big Beautiful Bill Act (OBBBA) brings increased predictability for business owners, founders, family offices and investors in many tax planning aspects. Individual and corporate tax rates stay ...

With the prevalence of side gigs and freelance work in today’s economy, many people are small-business owners without even realizing it. Working as a freelancer or independent contractor essentially ...

A company’s income should be considered “business income” (which gets split up and taxed by all states where the company does business) or “nonbusiness income” (which usually gets taxed only in the ...

Unrelated Business Income Tax (UBIT) is a federal tax imposed on the income generated by tax-exempt organizations, including universities, when they engage in revenue-generating activities that are ...

Operating a business on the side can give you valuable tax deductions as well as extra income. However, the Internal Revenue Service (IRS) decides if the business is actually a hobby or not. If the ...