Recent Articles

Small Business Taxation

A general class of taxation to include many subcomponents. These include self-employment taxes and federal payroll taxes depending on the situation for the small business owner.

Basis in Business

10/01/2017

Basis is a business term used to identify the value of an individual or entity’s investment in an entrepreneurial endeavor.   It is customarily linked to taxation as this term is used by the Internal Revenue Code to determine gain or loss.  [...]

Bookkeeping – Advanced Skillsets (Lesson 70)

08/13/2017

Lessons 1 through 28 covered the fundamentals of bookkeeping.  This includes the six different types of accounts and their relation to the dual entry system.  In addition, debits and credits were explained in how they impact the financial [...]

Double Taxation – Not an Issue in Small Business

02/08/2017

In the world of big business corporate earnings are taxed twice under the Internal Revenue Code.   The first layer of taxation occurs with the traditional corporate income tax.   The second tier of taxation happens when dividends are issued to [...]

Profit Shifting in Small Business – Internal Shifting

07/11/2015

Profit shifting in business is a term with two different interpretations.  The more modern use of profit shifting refers to large multinational U.S. based companies shifting their respective profits to other nations with a friendlier and lower [...]

Fuel Tax Credit

01/22/2013

The fuel tax credit is a federal refundable tax credit for taxes paid on fuel purchased for off road use.  Every gallon of fuel sold at the pump has an 18.3 cent tax assessed by the federal government designated to highway construction and [...]

Self-Employment Tax: You Can Stop Staring At Me Now!

11/28/2012

I was in the attic once hunting down a noise, of course it was at night and I don’t have any lights in the attic to assist me.  So, I grabbed my son’s Boy Scout Flashlight that mounts on your forehead and headed up to find a raccoon staring at [...]