The CPA Next Door

Many small business owners are told they should make the election to become an S-corporation. Often, this election does make sense, but...

Let’s start with the P&L -- the Profit and Loss Statement, AKA the Income Statement. The P&L tells us about the performance of a...

Whether it’s fixing up an investment property or starting a business, most entrepreneurs find themselves putting in some serious sweat...

Pass-through taxation means individuals are subject to income taxes, not the business itself. For example: a partnership doesn’t pay...

You may have been told your business should become an S-Corp. Is this good advice? First, let’s take a quick look at the basic...

Bookkeeping has been around for over 4,500 years – for good reasons! Why should you hire a bookkeeper and what should you expect from...

The Inflation Reduction Act (IRA) was enacted August 16, 2022. This extended and increased many of the tax credits related to green...

Many people have questions about estimated tax payments. Who must make these payments? How are they calculated? When are they due? Let’s...

Earned Income Tax Credit You may have heard people mention they had a refund on their tax return they were not expecting, and it was due...

Congratulations you locked in that historically low rate on your mortgage! There are many financial benefits from taking advantage of...

The Small Business Association (SBA) strikes again over the weekend with more guidance has come from regarding how banks and borrowers...

Voting closed for Oregon residents on Tuesday night. One of two measures on the ballot was Measure 26-210, which passed by 63% of the...

The Internal Revenue Service and the Treasury Department are providing a special payment relief program to businesses and individuals in...

I often get asked by clients what they should do to lower their tax obligation. While there are a variety of strategies that can be used...

With tax season getting into full swing, several of my clients have come in for planning sessions. We look at a few things during these...

Now that we are a couple of weeks into the new year, I have begun getting planning questions from clients. Many of these questions are...

Items needed to do your 2020 tax return

As many of you have heard the SECURE Act has been passed by Congress, but what does that mean for individuals and small business? Here...

We have always heard that people start a business because of the tax benefits which businesses receive that traditional employees don't...

Often the question is asked. What do I do with all the money I put in my business to get things off the ground and running? To this...