Tax guides
Plain-English answers to US, Canadian and cross-border tax questions. Each guide states who it applies to, the rule, the figures with their sources, and when the answer changes.
Can a company keep accrual books for investors and file its tax return on cash? The rule, who may use cash, the reconciliation, 1099s and inventory.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Late December wages paid in January: which year they belong to on cash and accrual books, how to record and clear them, and what the W-2 and return show.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to show add-backs and seller's discretionary earnings (SDE) when you sell a small business: what counts, what lenders refuse, and what to document.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What a chatbot or your software's automatic categories cannot decide, what each expense record must show, and what to review before a US business return.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a short-term rental host books platform payouts: guest charges as rent, the host fee as expense, taxes, refunds, year-end timing and the Form 1099-K tie.
United States · Bookkeeping · Individuals · Self-employed
Which Amazon FBA fees are cost of goods sold, how to count and value FBA stock at year end, and how to book lost units and reimbursements.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What an Amazon seller's monthly close covers, what the software must do, how inventory and sales tax fit in, and when a CPA is needed on top of a bookkeeper.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to read an Amazon settlement report and post it so sales, refunds, fees, sales tax and the bank deposit tie to each other and to Form 1099-K.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Do startups need an audit? When an investor, lender or securities rule requires audited or reviewed statements, and how to ready the books for a first audit.
United States · Bookkeeping · Corporations
How to find the dates your bank feed missed, bring statement lines into your books without duplicates, and tie the gap to each ending balance.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
A connected bank feed copies transactions but does not reconcile your books. What a feed misses, what goes wrong without monthly reconciliation, and the steps.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Barter is income at fair market value in the year received. How to value a trade, book both sides, handle club credits and Form 1099-B, and fix missed trades.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
A bookkeeper's or accountant's mistake led to IRS penalties: who still owes, which relief to request, how to ask, and whether you can recover the cost.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Bookkeeper vs accountant vs CPA for a US business: which title is licensed, who can sign your return and speak to the IRS, and which to hire first.
United States · Bookkeeping · Individuals · Self-employed · Partnerships · Corporations
What a Schedule C bookkeeping app must do: expense lines, dated mileage, quarterly estimate figures, 1099 matching and records the IRS can request.
United States · Bookkeeping · Self-employed
What to check and fix in your books before a tax preparer sees them: accounts tied to statements, duplicates, opening balances, owner money and loose items.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What bookkeeping cleanup, catch-up and reconstruction mean, a three-check test of the old file, when a new file is safe, and how to set its opening balances.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
No official source sets a monthly bookkeeping price. See what changes the fee (accounts, transactions, payroll, sales tax) and what a fair quote must list.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What a bookkeeping engagement letter should state before you sign: work included, dates, fees, prepayment, records, IRS access and how to end it.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What a venture-backed Delaware C corporation needs in its books after a raise, which tax records ride on them, and when to outsource the bookkeeping.
United States · Bookkeeping · Corporations
How a licensed real estate agent or Realtor records commissions and brokerage splits, sorts fees and gifts onto Schedule C, and ties the books to the 1099-NEC.
United States · Bookkeeping · Self-employed · Corporations
The IRS accepts any system that clearly shows income and expenses and supports the return. What a spreadsheet lacks, when to switch, and how to move.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How an LLC's books carry over after an S corporation election: the effective date, opening equity, payroll wages, and owner money.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a US subsidiary of a foreign parent picks cash or accrual, an accounting standard and a tax year, and who runs its books, payroll and annual filings.
United States · Bookkeeping · Corporations
When a one-owner rental LLC goes on Schedule E, when two owners by default mean Form 1065, and how to keep books, EINs and transfers apart for each LLC.
United States · Bookkeeping · Individuals · Partnerships
Do an S corporation and two LLCs need separate books? Which files its own return, whose EIN runs payroll, and how to record loans, contributions and repayments.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Which reports a preparer needs for a Schedule C or Form 1120-S, why your books do not flow straight into the return, and what the preparer adjusts.
United States · Bookkeeping · Self-employed · Corporations
Shareholder loan from your own S corp or C corp: what makes it a real loan, what interest to charge, and what if the IRS calls it a distribution or pay.
United States · Bookkeeping · Corporations
How to work out net burn and runway from your books, why burn differs from the fall in your bank balance, and what to leave out: raises, loans, prepaid plans.
United States · Bookkeeping · Corporations · Partnerships
Federal tax law does not require a business bank account for a sole proprietor or single-member LLC, but the IRS says to open one. What banks ask for and when.
United States · Bookkeeping · Self-employed
Business costs paid on a personal credit card: how to record them, whether to pay yourself back, and what changes for an LLC or S corporation.
United States · Bookkeeping · Individuals · Self-employed · Partnerships · Corporations
Customer payments or online-store payouts landed in your personal bank account? Report the income, record it once, and move the money without counting it twice.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a C corporation repays owner expenses under an accountable plan, and when a personal bill becomes wages, a constructive dividend or a loan.
United States · Bookkeeping · Corporations
How a US cash business records daily sales, counts the till, logs cash paid out and deposits, and handles the bank and Form 8300 cash reports.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Cash or accrual for a small business: who may use cash for taxes, when size or inventory forces accrual, and what a lender sees.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What drives the cost of catch-up or cleanup bookkeeping, what a quote should list, and how to judge a quote when months or years of records are missing.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How US business owners can rebuild overdue books, document income and expenses, reconcile accounts, and decide what needs review before filing.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to rebuild years of rental property books and file the missing Form 1040 and Form 1065 returns: what to gather, how to sort deposits, what carries forward.
United States · Bookkeeping · Individuals · Partnerships
How a startup works out unrecorded stock compensation expense from its first grant, books the missed years, and why the tax deduction differs from the books.
United States · Bookkeeping · Corporations
How to record a charity gift paid from the business account, and where it lands on the return for a sole proprietor, LLC, S corporation or C corporation.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
A startup chart of accounts that shows gross margin, R&D, sales and marketing and G&A the way investors read them, and how those lines map to the tax return.
United States · Bookkeeping · Corporations · Partnerships
One chart of accounts for your rentals, with a tag per property, so every Schedule E line and column ties out. Covers loans, escrow, repairs and deposits.
United States · Bookkeeping · Individuals · Self-employed · Partnerships
Build a chart of accounts that rolls up to Schedule C and Form 1120-S lines: which accounts to keep, what stays out of expenses, and what your preparer needs.
United States · Bookkeeping · Self-employed · Corporations
How to check a small business's books before you buy: tie the seller's profit and loss to tax returns, bank deposits and card reports, and handle gaps.
United States · Bookkeeping · Individuals · Self-employed · Partnerships · Corporations
Check a bookkeeper's work without an accounting degree: reconciliations, odd balances, payroll deposits, opening balances and closed months that changed.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to choose a catch-up or cleanup bookkeeping service, online or local: what finished means, credentials, access, written scope and when to call first.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a small church keeps its books: giving statements, the pastor's housing allowance, payroll filings, rent income and which records to keep.
United States · Bookkeeping · Corporations · Individuals
Books behind or kept in a spreadsheet before a raise? What investors flag, what a clean-up covers, what drives the time and what to gather first.
United States · Bookkeeping · Corporations
Set a QuickBooks Online closing date after you file, see who can change it, list edits made since, and learn when changed numbers mean an amended return.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Where startups book GPU compute and model API costs: cost of revenue or R&D, model training, cloud credits, the gross margin investors rebuild, section 174A.
United States · Bookkeeping · Corporations
How a vacation-rental co-host or property manager keeps each owner's money, payouts and fees apart in the books, plus licensing, trust accounts and 1099s.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a construction company sets up job costing, progress billing, retainage and over and under billing to track each job's profit.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Form 1099-NEC for landlords and rental hosts: when cleaners, handymen and co-hosts need one, the threshold, W-9s, card payments, due date and records.
United States · Bookkeeping · Individuals · Self-employed · Partnerships · Corporations
Does a service business have cost of goods sold (COGS)? What the return needs, which direct costs sit above gross profit, and where wages and subcontractors go.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What goes into the cost of goods sold when you make what you sell, how to value unsold pieces, and when a maker's books need a professional.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to record a credit card payment as a transfer, stop purchases counting twice, reconcile each card to its statement, and handle fees, disputes and rewards.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Voluntary card tips belong to staff, so book them as tips payable, not sales. How to pay, withhold on and reconcile them, and how a service charge differs.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a SaaS company books prepaid annual and multi-year plans as deferred revenue, builds the schedule investors ask for, and why taxable income differs.
United States · Bookkeeping · Corporations
Shopify records store orders and payouts, not your books. What its reports cover, what they leave out, and what an accountant needs from a store.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
When a US small business can keep its own books, what records the IRS needs, and when payroll, inventory or business returns call for help.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a buyer treats legal, accounting, broker and banker fees on a business purchase: capitalize or expense, the dates that matter, success fees, a dead deal.
United States · Bookkeeping · Corporations · Partnerships · Self-employed
Find income counted twice in QuickBooks Online from invoices, payments, deposits or a payment-app sync, pick the copy to remove, and check any filed return.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What an ecommerce bookkeeper should handle for a Shopify or Amazon store, what drives the fee, and when a store needs a CPA as well.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How an Etsy seller keeps books: sales at full price, fees and labels as expenses, listing fees monthly, buyer sales tax out of income, and a tie to Form 1099-K.
United States · Bookkeeping · Self-employed
Should you import every Shopify or POS order into QuickBooks or Xero, or post payout or daily summaries? What the IRS requires and how to tie each entry out.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How the de minimis safe harbor lets a business expense a laptop, phone or tool: the limit, what the books must show, how to elect, and what to do if you missed it.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to record money a relative lent your business, write the note, set interest against the applicable federal rate, and treat unpaid interest or forgiveness.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Who keeps the books, reconciles fund K-1s and files returns for US families with many LLCs and trusts, with an internal team or outsourced accounting.
United States · Bookkeeping · Partnerships · Individuals · Corporations
Which financial records a startup puts in the data room for a seed or Series A round, and what investors may tie to the books, bank, IRS and cap table.
United States · Bookkeeping · Corporations
Which statements a bank asks for on a business loan, how many years, whether a CPA must prepare them, and how they tie to your returns.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Which tax year a US business may use, calendar or fiscal, by entity type: how to find your year-end, section 444, 52-53 week years and changing with Form 1128.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to fix commingled personal and LLC money: stop mixing today, sort every transaction, book draws and personal-card costs, reconcile, and keep it apart.
United States · Bookkeeping · Self-employed · Partnerships
Past returns showed no inventory? When to amend, when Form 3115 with a section 481(a) adjustment applies, and how to set beginning inventory now.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a US business records foreign-currency invoices, balances and conversions in dollars, and when Section 988 exchange gains and losses arise.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Who keeps the fund, GP and management company books, prepares K-1s and handles investor services, and where the audit fits, for US private fund managers.
United States · Bookkeeping · Partnerships · Corporations
How to give a bookkeeper access to your bank and accounting software without letting them move money: own logins, second login step, approvals, fraud checks.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Is GMV a marketplace's revenue? Gross vs net under principal vs agent rules, the investor bridge, and which number counts as gross receipts on Form 1120.
United States · Bookkeeping · Corporations
How a multi-member LLC books guaranteed payments versus partner draws, what each does to profit, the K-1 and self-employment tax, and what the agreement needs.
United States · Bookkeeping · Partnerships · Self-employed
How a home daycare provider works out the time-space percentage, splits house costs on Form 8829, deducts food and keeps the hours, meal and attendance records.
United States · Bookkeeping · Self-employed
How long to keep business receipts, bank statements and tax records for the IRS: the three-year rule, longer periods, and what to do when closing or selling.
United States · Bookkeeping · Individuals · Self-employed · Partnerships · Corporations
How often a small business needs its books done: what the IRS says, the due dates that force monthly books, and when quarterly or yearly bookkeeping is enough.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
A client abroad paid you but sent no 1099: how to report it on Schedule C, convert the currency, prove it, and handle estimated tax, FBAR and past years.
United States · Bookkeeping · Self-employed
How to rebuild cost of goods sold for back years when you kept no receipts or stock counts: records to use, stock values, estimates and audit risk.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
When stock, materials and supplies are deductible, who may skip a formal inventory, how books and returns must match, and how Form 3115 switches the method.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
December invoice paid in January: cash counts the year the money arrives, accrual the year your right to payment is fixed. Checks, 1099 gaps, filed returns.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Does the IRS require a receipt for every business expense? When one is required, what the small-purchase line waives, and what to write down as purpose.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Freight-in, import duty, broker fees, packaging and sales tax paid on stock: what counts as cost of goods sold and how to spread it across items.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Which equity accounts a one-owner LLC, a multi-member LLC and an LLC taxed as an S or C corporation need, and how to record owner money in and out.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
A large loan to shareholder on a corporate balance sheet: whether to write it off against retained earnings, the other ways to clear it, and the tax effect.
United States · Bookkeeping · Corporations
Local or remote bookkeeper? What location changes, when industry or software experience matters, who should hold the login, and how to test a fit first.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Lost business receipts: what can still support a deduction (statements, vendor copies, notes), where the IRS is stricter, and what to do if it asks.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Phone, internet or car used for work and home: how to book the business percentage, treat car loan principal, and choose the Schedule C line.
United States · Bookkeeping · Self-employed · Partnerships
How to book money parents or relatives abroad sent your US business as a gift, loan or capital, what to report, and when interest paid abroad is withheld.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
A month-end close checklist for a small business: reconcile accounts, tie out payroll, loans and owner draws, review the reports, and know which dates apply.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Monthly financials for investors and the board: the three statements, budget against actual, burn and runway, the month-end close and the Form 1120 tie-out.
United States · Bookkeeping · Corporations
Why owner's equity goes negative after draws or distributions, what it means on the balance sheet, and when it creates tax for an S corp, partnership or C corp.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a small nonprofit keeps its books: tracking restricted grants, splitting costs by function, donor records, and which Form 990 to file and when.
United States · Bookkeeping · Corporations
Flat-fee online bookkeeping-and-tax bundle or a CPA firm? Check who signs and represents you, what the fee covers, payroll liability and your records.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Why Opening Balance Equity is large or negative, how to see what is in it, and which equity accounts it moves to for each entity type.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to set opening balances in new books after changing accountants or software: the reports to get, the start date, equity, assets and open invoices.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to record what happened before your bookkeeping began: pick a start date, set opening balances, value equipment and enter the earlier months of this year.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to tell if QuickBooks still fits a business with several entities, locations or inventory, what to fix first, and what to tie out before you move.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Put your own money into your LLC? How to book it as a contribution or a member loan, how to take it back out, and what the tax return shows.
United States · Bookkeeping · Self-employed · Partnerships
How to keep each partner's capital account in a multi-member LLC's books: what moves it, tax basis versus the regulation method, and how it ties to the K-1.
United States · Bookkeeping · Partnerships
A partner paid LLC costs from a personal account: reimburse, treat as a capital contribution, or deduct on Schedule E? What each does to books, K-1 and basis.
United States · Bookkeeping · Partnerships
Paid a subcontractor in cash with no receipt or tax ID? What proof supports the deduction, how to book it, and how 1099-NEC, W-9 and backup withholding apply.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to record PayPal sales at gross, fees as expenses, invoices and bank transfers so income is not counted twice, and how to tie the year to Form 1099-K.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to record a payroll run on cash or accrual books: gross wages, withholding, net pay, employer tax and deposits, tied to Form 941 and the W-2s.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Why payroll liabilities still show on the balance sheet, how to match them to Form 941 and the IRS record, and how to clear them without doubling the expense.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Most businesses face no flat fine for messy books, but unprovable deductions, an accuracy penalty, IRS-built income and late penalties can follow.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What happens when an employee or owner puts personal charges on a company card: repayment, wages on the W-2, or an owner distribution or loan.
United States · Bookkeeping · Corporations
Paying personal bills from a business account, or buying in the business name, does not make them deductible. How to book them as a draw and fix a filed return.
United States · Bookkeeping · Self-employed · Partnerships
Paid next year's rent, insurance or a service contract in December? How the 12-month rule, cash and accrual methods decide the deduction, and how to book it.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Profit and loss doesn't match your bank or tax return? Check cash vs accrual, loans, sales tax, draws, payouts and inventory in order.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Your P&L shows a profit but the bank balance is low. What the P&L leaves out, which report shows where the cash went, and why tax can still be due.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to turn a property manager's monthly owner statement into gross rent and expense lines for Schedule E, and tie it to your bank and Form 1099-MISC.
United States · Bookkeeping · Individuals · Partnerships
Which returns, current statements, transcripts, and CPA letters can document self-employed income for a lender, and who may prepare them.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What happens to basis, depreciation and your books when you move a car, computer or tools you already own into your LLC, with one owner or two.
United States · Bookkeeping · Self-employed · Partnerships
What a quality of earnings report is, what a buyer or lender compares, and how a seller ties books, tax returns and bank deposits together before the review.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What a quality of earnings report costs, why no price is standard, what drives the fee, who pays, and how reconciled books cut the work.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
When an SBA lender requires a quality of earnings report to buy a small business, when a CPA tie-out is the lighter check, and what the seller must sign.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What to ask a bookkeeper before you sign: monthly scope, close date, credentials, payroll duty, access, data and exit terms, price, and the red flags.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What your CPA needs from a cheaper QuickBooks replacement: reports, access, exports, tax-line mapping and history, plus what to check before you cancel.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
QuickBooks Desktop no longer sells new subscriptions of some products. What happens to your file, history and payroll, and whether to stay, move or switch.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Why balances are off after migrating QuickBooks Desktop to Online, how to compare both files, tie to your last return and restart reconciliations.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a small US business chooses between QuickBooks Online and Xero: accountant support, IRS record rules, return mapping, payroll, 1099s, yearly cost and exit.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
If QuickBooks Self-Employed access has ended or is ending: what a sole proprietor should save, what a Schedule C needs from a new tool, and how to move.
United States · Bookkeeping · Individuals · Self-employed
Never kept a mileage log, or lost it? What proof the IRS accepts for business car miles, what can rebuild a log, and where a rebuild falls short.
United States · Bookkeeping · Self-employed · Corporations
Rebuild a lost fixed asset list for Form 4562 and your books: where the old numbers live, what each asset row needs, and what to do about skipped depreciation.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to rebuild business records from bank statements, Forms 1099 and IRS transcripts to file back taxes, and what a CPA needs to prepare the returns.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Rebuild each partner's capital account and K-1 Item L from bank records when an LLC never tracked them, and what a late Form 1065 needs.
United States · Bookkeeping · Partnerships
Why a QuickBooks Online reconciliation beginning balance no longer matches the statement, how to find the changed transaction, fix it and lock the period.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How US businesses match sales to payment deposits and Form 1099-K while recording fees, refunds, sales tax, reserves, and year-end timing.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
A simple record keeping system for self-employed people: what to keep for each expense, whether bank feeds replace receipts, and what to send your bookkeeper.
United States · Bookkeeping · Self-employed
How to record a business loan, split each payment into principal and interest, and see what is deductible, for sole proprietors, partnerships and corporations.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to record a partner buyout in an LLC or S corporation: the entries for a sale to another owner, a company redemption, a note, and a new member joining.
United States · Bookkeeping · Partnerships · Corporations
How a US corporation records a priced round: preferred stock at par and paid-in capital, converted SAFEs and notes, closing fees, and the cap table tie-out.
United States · Bookkeeping · Corporations
How a US restaurant or shop books each day's POS report (sales, sales tax, tips, card fees and cash) so bank deposits reconcile.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to book federal and state income tax paid from the business account for a sole proprietor, LLC, partnership, S corporation or C corporation.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Record an owner's draw in an equity account, not as an expense. What draws do to tax, how sole owners and LLC members differ, and how to fix old entries.
United States · Bookkeeping · Self-employed · Partnerships
How to book a customer or vendor refund so it is not income, and fix one booked as income: Schedule C line 2, credit memos, duplicate payments, Form 1099-K.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
S corporation distribution journal entry, year-end close to retained earnings, tying Schedule L and M-2, and when negative equity or unequal payouts need a CPA.
United States · Bookkeeping · Corporations
What records support a deduction for freelancers paid abroad or through a platform, how to categorize the payments, and why to check sanctions first.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What to export before cancelling QuickBooks Online so you can still answer an IRS question later: reports, attachments, payroll, assets and how to save them.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Regulation Crowdfunding (Form C) financial statements by raise size: officer-certified, reviewed or audited, and what a brand-new company can present.
United States · Bookkeeping · Partnerships · Corporations
What a rental owner's books must show for Schedule E, when a spreadsheet is enough, and when accounting software or a bookkeeper fits.
United States · Bookkeeping · Individuals · Partnerships
How to book rental property closing costs: what adds to basis, what belongs to the loan, property tax prorations and the land and building split.
United States · Bookkeeping · Individuals · Partnerships
Build a rental property profit and loss statement that matches Schedule E line by line, shows depreciation and add-backs, and ties to your return.
United States · Bookkeeping · Individuals · Partnerships · Corporations
What records a landlord keeps for Schedule E, how long to keep them, and what can support a repair paid in cash with no invoice.
United States · Bookkeeping · Individuals · Self-employed · Partnerships
Signs it may be time to replace a bookkeeper, what a second look at your QuickBooks file checks, and how to switch mid-year without missing a filing.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a restaurant P&L should show food cost, labor and prime cost in the month they were used, and what a buyer or lender checks.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a restaurant matches POS sales tax reports, auto-pay bank withdrawals and the filed return, with California, Pennsylvania and Texas rules.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Why retained earnings or owner's equity in your books differ from last year's filed return, which return line to compare, and how to fix the opening balances.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
When a startup recognizes revenue under ASC 606, why an invoice is not revenue, and how to correct the books before a first audit or investor review.
United States · Bookkeeping · Partnerships · Corporations
What an S corporation's yearly bill covers: books, owner payroll, Form 1120-S with K-1s and state filings, plus late penalties and how to read a quote.
United States · Bookkeeping · Corporations
What an S corporation's bookkeeping and payroll setup must do: owner wages, distributions, loans, health insurance and a year-end balance sheet that ties.
United States · Bookkeeping · Corporations
The chart of accounts an S corporation needs, how to record officer pay, distributions and shareholder loans, and what the Form 1120-S preparer asks for.
United States · Bookkeeping · Corporations
Years behind on S corporation books? The order to rebuild owner pay, distributions, personal costs and due-to-shareholder before filing Form 1120-S.
United States · Bookkeeping · Corporations
Paid your S corporation's expenses yourself and never got repaid? What keeps a late repayment tax-free, when it becomes wages, and how to book it.
United States · Bookkeeping · Corporations
What to do when an S corporation paid an owner's personal bills or taxes: wages, a real loan or a distribution, how to book each, and the effect on basis.
United States · Bookkeeping · Corporations
How to record sales tax in your books: tax collected, payments to the state, tax paid on purchases, use tax, and how to fix past entries.
United States · Bookkeeping · Individuals · Self-employed · Partnerships · Corporations
Why a sales tax payable balance or liability report differs from the return you filed, and how to find each gap, fix it and decide when to amend.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a hair salon books booth rent, commission stylists, retail product and tips, and the facts that decide if a stylist is a renter, employee or contractor.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
A client's 1099-NEC and a payment app's 1099-K list the same payments: how to report the income once, fix the forms, prove the overlap and answer a notice.
United States · Bookkeeping · Individuals · Self-employed
What an SBA lender asks an existing business for: three years of statements or returns, an interim P&L, Form 413, a debt schedule, and a match to IRS records.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Does the IRS accept photos or scans of business receipts? What the system must do, what to test before shredding, and what to do before canceling an app.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Where cost of goods sold goes on Schedule C, what lines 35 to 42 mean, and how to work out beginning and ending inventory for Part III.
United States · Bookkeeping · Self-employed
Schedule C expenses on years of unfiled 1099 income: what counts, proof without receipts, mileage by year, home office and refund limits.
United States · Bookkeeping · Individuals · Self-employed
How a mortgage lender turns Schedule C profit into income: what it adds back and subtracts, years of returns, a year-to-date P&L, transcripts and amending.
United States · Bookkeeping · Individuals · Self-employed
When Form 1120-S, 1120 or 1065 needs a Schedule L balance sheet, who can skip it, and how to complete it from cash-basis books or a spreadsheet.
United States · Bookkeeping · Partnerships · Corporations
How to record a tenant's security deposit in rental books: a liability while you hold it, income only when you keep it. Covers advance rent and state rules.
United States · Bookkeeping · Individuals · Partnerships · Corporations
Does each rental or LLC need its own bank account? What the IRS expects, when an LLC, lender or state deposit law requires one, and keeping rent separate.
United States · Bookkeeping · Individuals · Partnerships
The decisions a new LLC makes before its first entry: tax classification, tax year, cash or accrual, EIN, bank account, sales tax and payroll.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Loan or capital when you put your own money into an S corporation: what makes it real debt, how debt basis differs from stock basis, and how to book it.
United States · Bookkeeping · Corporations
Match each Shopify payout to a bank deposit, record sales, fees, refunds and chargebacks, and see why Form 1099-K differs from payouts and sales.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What a small business balance sheet shows, which lines belong on it, and what to check when cash, equity or loans look wrong or will not tie to your return.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Why a Square deposit is smaller than your sales, and how to record gross sales, fees, tips, sales tax and refunds so revenue is counted once.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to record seed inventory you paid for personally before opening: the cost to use, the owner contribution entry, the Schedule C line and the proof to keep.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What a pre-seed startup's books must do, what to set up before the first transaction, and what investors can tie to the books when they look.
United States · Bookkeeping · Corporations
How to book LLC formation and startup costs you paid on your own card, which accounts to debit and credit, how to pay yourself back, and when to deduct them.
United States · Bookkeeping · Self-employed · Partnerships
How to book Stripe payouts as gross sales, fees and refunds, read the payout reports, handle negative balances, and tie the year to Form 1099-K.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How to change accounting software mid-year: pick the cutover date, bring the right history, build the full-year numbers and 1099 totals, and keep the old file.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
When a corporation or partnership must move its tax return from cash to accrual, when accrual books are enough, and how Form 3115 avoids double counting.
United States · Bookkeeping · Corporations · Partnerships
Your CPA or bookkeeper went silent or you let them go: which records are yours, what the IRS shows, Form 8821 or 2848, and how to rebuild the books.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a US company importing servers, power or cooling gear treats tariffs, duties, broker fees and freight: inventory, asset cost, refunds, customs value cap.
United States · Bookkeeping · Corporations
How to total sales by delivery state, count what each state counts, tie the totals to your ledger and see a sales tax nexus line coming.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How an owner-operator books carrier settlements, fuel and miles for IFTA, per diem, Form 2290 and the truck loan, and when to get help.
United States · Bookkeeping · Self-employed · Corporations
Clear Uncategorized Expense and Income in QuickBooks, pick the Schedule C line for each item, handle personal spending, and check the books before filing.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What a large Undeposited Funds balance in QuickBooks Online means, whether it overstates income, and how to group payments into deposits that match the bank.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a new vending route tracks cash by machine, sales tax, location commissions and machine costs, and where each lands on the tax return.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What a monthly bookkeeping service should deliver: reconciled accounts and reports, and what payroll, 1099-NEC forms and sales tax returns add.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What a bookkeeper needs from you each month: who categorizes, whether bank feeds replace receipts, account access, payroll and W-9 items, and what stays yours.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
How a small US seller writes off obsolete or dead stock: when the cost is deductible, the journal entry, where it shows on Schedule C or Form 1125-A, and proof.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Can you write off an invoice a customer never paid? The tax rule for cash and accrual businesses, how to prove it, and how to record it in your books.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
What to finish in your small business books after December 31: reconcile accounts, tie out payroll and 1099s, count inventory, clear owner items, then hand off.
United States · Bookkeeping · Self-employed · Partnerships · Corporations
Compare direct investment, a US blocker and an offshore feeder for foreign or tax-exempt fund investors, including tax costs and master-feeder filings.
United States · Business structure · Corporations · Partnerships
See when changing a sole proprietorship or LLC creates federal tax, which returns and EIN rules apply, and what state filings to check.
United States · Business structure · Self-employed · Partnerships · Corporations
A 1099 contractor needs no LLC to be paid. LLC vs sole proprietor: what a single-member LLC and an S election change in tax and cost.
United States · Business structure · Self-employed
How a US single-family office may deduct costs, what Lender Management established, and how profits interests, trusts and corporations change the result.
United States · Business structure · Partnerships · Individuals
Compare LLC and S corporation tax for a hedge fund management company or RIA: owner salaries, NYC GCT and UBT, PTET credits and ownership limits.
United States · Business structure · Partnerships · Corporations
How an LLC can request an earlier C corporation tax effective date after filing Form 8832 late, including eligibility, signatures, returns, and IRS follow-up.
United States · Business structure · Self-employed · Partnerships · Corporations
A late Form 2553 can still count for the year you wanted: request Rev. Proc. 2013-30 relief, generally within 3 years and 75 days, and show reasonable cause.
United States · Business structure · Self-employed · Partnerships · Corporations
Compare LLC and C corporation taxes, owner withdrawals, early losses, state fees, and the stock-sale exclusion before forming a US business.
United States · Business structure · Self-employed · Partnerships · Corporations
US expats running a business abroad: how a single-member LLC, S corporation or local company differ on self-employment tax, payroll, the FEIE and filings.
United States · Business structure · Self-employed · Corporations
Converting an LLC or another state's corporation into a Delaware C corp: which route, the tax, the EIN, QSBS timing, 83(b) and conversion-year returns.
United States · Business structure · Partnerships · Corporations
Can an LLC take a SAFE or sell units to investors without converting? The tax rules, capital accounts, K-1s, tax distributions and why funds hesitate.
United States · Business structure · Partnerships
For US resident owners, see how an LLC affects rental reporting, property transfers, home sale gain, state taxes, and ownership with others.
United States · Business structure · Individuals · Partnerships
Compare a second brand in one company with a new LLC or holding company, including who owns each venture and which federal returns they file.
United States · Business structure · Self-employed · Partnerships · Corporations
For searchers and search fund investors: LLC or C corporation for the company that buys the business, QSBS, the step-up, search costs and who files.
United States · Business structure · Partnerships · Corporations · Individuals
How an S corporation election can cut self-employment tax, who can elect, how to file Form 2553 on time, and the costs that can erase the saving.
United States · Business structure · Self-employed · Partnerships · Corporations
When a spouse- or family-owned LLC files Form 1065, when community property allows disregarded reporting, and why an LLC cannot elect qualified joint venture status.
United States · Business structure · Individuals · Self-employed · Partnerships
When an existing C corporation can elect S status, and how old earnings, appreciated assets, distributions, and losses affect the tax cost.
United States · Business structure · Corporations
How an S corporation taking venture or foreign money becomes a C corporation: revoking, letting the closing end it, or a new C corporation, and QSBS.
United States · Business structure · Corporations
Is an accountant worth it for a self-employed Schedule C, or is tax software enough? What each covers, what moves the fee, and what to bring.
United States · Business tax · Individuals · Self-employed
What to do when your accountant hasn't finished a business return: file the extension yourself, pay an estimate, get records back and limit late penalties.
United States · Business tax · Self-employed · Partnerships · Corporations
Form 5471 quote high for a small company abroad? The statements, US accounting, currency and rates, owner dealings and records to send.
United States · Business tax · Individuals · Corporations
What Form 8858 needs from a business abroad: a US GAAP balance sheet in dollars, exchange rates, functional currency, Section 987 and the books to keep.
United States · Business tax · Individuals · Self-employed · Corporations
How Form 7004 extends a partnership, S corporation or C corporation return, what it does not extend, and what to pay or file when the books are behind.
United States · Business tax · Partnerships · Corporations
Find when out-of-state sales, workers, inventory or owners can trigger business income or franchise tax returns and nonresident owner filings.
United States · Business tax · Self-employed · Partnerships · Corporations
When a US business loss can reduce wages or a spouse's income, which limits apply, and how unused losses carry forward.
United States · Business tax · Individuals · Self-employed · Partnerships · Corporations
For US business buyers: compare asset and stock purchases, purchase-price deductions, Form 8594, seller tax debts, and the first return after closing.
United States · Business tax · Self-employed · Partnerships · Corporations
How a partnership or S corporation buyout is taxed for the departing and remaining owners, and what the business reports on its return and K-1s.
United States · Business tax · Partnerships · Corporations
Can a one-owner C corporation pay the owner dividends instead of salary? Double tax, earnings and profits, Form 1099-DIV, owner's draws and cash left inside.
United States · Business tax · Corporations
When California LLCs and corporations owe the annual minimum tax, including inactive and out-of-state entities, plus LLC fees, deadlines and closing steps.
United States · Business tax · Self-employed · Partnerships · Corporations
Must you withhold California tax on a payment to a nonresident? Who is exempt, the withholding rate, and how a Form 588 waiver works.
United States · Business tax · Self-employed · Partnerships · Corporations
How a California S corporation, partnership or LLC elects the PTE elective tax: FTB 3804, the June 15 and March 15 payments, and the owner credit.
United States · Business tax · Partnerships · Corporations
How an LLC, partnership or corporation identifies missing US returns, files them in a workable order and handles payroll, state filings and unpaid tax.
United States · Business tax · Self-employed · Partnerships · Corporations
How a Delaware C corporation startup picks an accountant: bookkeeper vs CPA, who can speak to the IRS, license and PTIN checks, and the questions to ask first.
United States · Business tax · Corporations
Co-owners of a rental generally each file Schedule E. Services to tenants beyond upkeep, or an LLC with two or more members, can mean Form 1065.
United States · Business tax · Individuals · Partnerships
What happens for tax when startup convertible notes mature with no priced round: extending, converting at the cap, accrued interest, forgiveness and Form 982.
United States · Business tax · Corporations
How partnerships and S corporations correct filed returns and K-1s, and when partners or shareholders must change their own returns.
United States · Business tax · Partnerships · Corporations
Does a multi-member LLC need a CPA for Form 1065 and K-1s? When it must file, what a late return costs, what the books need and where self-filing breaks.
United States · Business tax · Partnerships
For small crypto funds and trading partnerships: reconcile Forms 1099-DA, prove basis wallet by wallet, report staking and airdrops, and file 1065s and K-1s.
United States · Business tax · Partnerships
When a corporation is taxed on customer deposits and prepayments: cash basis, the one-year accrual deferral, multi-year deals, refundable deposits and refunds.
United States · Business tax · Corporations
When a US corporation pays developers abroad, learn which software costs must be spread over 15 years and how US work is treated differently.
United States · Business tax · Corporations
Every yearly filing for a Delaware C corp startup: the March 1 Delaware report, Form 1120, home-state returns, January payroll forms, with or without revenue.
United States · Business tax · Corporations
Learn why a Delaware corporation's franchise tax notice can be high, how to compare calculation methods, and what LLCs and partnerships owe.
United States · Business tax · Corporations · Partnerships
What a Delaware LLC owes each year, the June 1 due date, the late penalty and interest, why there is no annual report, and what happens after years of nonpayment.
United States · Business tax · Self-employed · Partnerships
Down round tax consequences of a startup recap: preferred-to-common conversion, pay-to-play, reverse splits, fractional-share cash, founder grants, Form 8937.
United States · Business tax · Corporations · Individuals
Who pays tax when a family LLC, partnership or corporation sells land to a data center, how some owners exchange while others take cash, and what it files.
United States · Business tax · Partnerships · Corporations
Can an S corporation owner prepare and e-file Form 1120-S without a CPA? Who signs, K-1s, the due date, and what software will not check.
United States · Business tax · Corporations
A pre-revenue startup C corporation still files Form 1120: what goes on the first return, how SAFEs, pre-launch costs and developer pay show, and common errors.
United States · Business tax · Corporations
Launching a hedge or other private fund? See what the fund, GP and management company file first, election deadlines, and foreign-investor tax issues.
United States · Business tax · Partnerships · Corporations
Which state returns investment funds file, when nonresident partner payments apply, and how composite returns differ from withholding and PTET elections.
United States · Business tax · Partnerships
Why fund K-1 tax capital differs from NAV, how to reconcile investor accounts, and which allocation rules apply when investors subscribe or redeem.
United States · Business tax · Partnerships
For fund CFOs and controllers: investor estimates, late K-1 penalties, K-3 requests, the fund and manager close, and a checklist for changing preparers.
United States · Business tax · Partnerships · Corporations
When suppliers, installers and GPU clouds selling into Washington, Ohio or Oregon data center projects owe gross receipts tax with no office or profit there.
United States · Business tax · Corporations · Partnerships
How US C corporations pay federal tax, pay owners, use losses, file Form 1120, make estimated payments, and face state taxes.
United States · Business tax · Corporations
How federal tax treats a single-member or multi-member LLC, when owners report profit, how elections work, and why state taxes may differ.
United States · Business tax · Self-employed · Partnerships · Corporations
How a US partnership or multi-member LLC reports income, gives partners Schedule K-1, and handles distributions, basis, self-employment tax, and audits.
United States · Business tax · Partnerships
How S corporation profit, distributions, and shareholder basis are taxed; what Form 1120-S reports; and when federal or state tax applies.
United States · Business tax · Corporations
What a startup's ASC 740 income tax provision is, why losses get a valuation allowance, who prepares it, how it ties to Form 1120 and when Schedule UTP applies.
United States · Business tax · Corporations
How an independent or fundless sponsor's closing, monitoring and management fees and promote are taxed, why a rolled fee is still income, and dead-deal costs.
United States · Business tax · Individuals · Partnerships · Corporations
Which IRS information form a business abroad needs: Form 5471, 8858, 8865 or none, decided by its US classification, plus dormant, closing and late fixes.
United States · Business tax · Individuals · Self-employed
How interest on a startup's raised cash in Treasury bills or a money market fund is taxed, when personal holding company tax applies, and the QSBS cash limits.
United States · Business tax · Corporations
When a US fund partnership with foreign broker accounts, offshore funds or foreign company stakes files an FBAR and Forms 5471, 8865, 926 and 8621.
United States · Business tax · Partnerships
What happens after a fund's Form 1065 gets Letter 2205-D: who acts, how the imputed underpayment works, modifications, push-out and fixed deadlines.
United States · Business tax · Partnerships
How an IRS audit of a small business runs: mail, office or field, why you were picked, the reply date, the records to send, and when a representative helps.
United States · Business tax · Self-employed · Partnerships · Corporations
How to read an IRS notice sent to your business: check it is real, find the CP number, decode CP259, CP161, CP504 and more, and know what to do first.
United States · Business tax · Self-employed · Partnerships · Corporations
What a business can ask the IRS for when it owes more than it can pay: payment plans, Form 433-B, fees, liens, levies and offers in compromise.
United States · Business tax · Self-employed · Partnerships · Corporations
Federal late-filing and late-payment penalties for partnerships, S corporations and C corporations, plus extensions, notices and relief options.
United States · Business tax · Partnerships · Corporations
A two-member LLC that never filed Form 1065 can ask the IRS to abate the per-partner monthly penalty. Conditions, proof and other routes.
United States · Business tax · Partnerships
When fund management partners owe self-employment tax after Soroban, what changes in K-1 box 14, how to calculate the tax, and how to review earlier returns.
United States · Business tax · Partnerships · Individuals
When makers of custom switchgear, power skids or cooling plants for data centers report income on contracts that run past year-end, retainage included.
United States · Business tax · Corporations · Partnerships
What a negative capital account on a partnership K-1 (Item L) means, how it differs from basis, when it is an error and when it leads to gain or blocked losses.
United States · Business tax · Partnerships
How a startup C corporation's losses carry forward, the yearly income limit, Form 1120 reporting, and when funding rounds set off a section 382 limit.
United States · Business tax · Corporations
No 1099 from a marketplace, app or client? Business income is still reportable. How to report it on Schedule C, build your total from records and prove it.
United States · Business tax · Individuals · Self-employed
NYC unincorporated business tax for fund management companies, GPs and resident partners: exemptions, allocation, NYC-204, IT-219 credits and deadlines.
United States · Business tax · Partnerships · Individuals
How US online sellers report sales, Form 1099-K, fees, inventory and shipping; when self-employment, estimated and state income taxes may apply.
United States · Business tax · Individuals · Self-employed · Partnerships
Oregon has no sales tax, but an Oregon LLC still faces other states' rules, the corporate activity tax, an annual report and Portland-area taxes.
United States · Business tax · Self-employed · Partnerships
State-by-state table of pass-through entity tax (PTET) elections for partnerships and S corporations: rate, who can elect, deadline and owner benefit.
United States · Business tax · Partnerships · Corporations
When a partnership or S corporation may benefit from a state pass-through entity tax election, and which owner, credit and deadline rules can change the result.
United States · Business tax · Partnerships · Corporations
Your K-1 shows income but the LLC or S corporation paid you nothing. Why you owe tax, what to report, estimated tax, basis, and what to ask the company.
United States · Business tax · Individuals · Partnerships · Corporations
A payment app's 1099-K counted gifts, split bills or family money? Which amounts are not income, how to get a correction, and what to enter if none comes.
United States · Business tax · Individuals · Self-employed
A card or payment-app account in your name took a relative's sales and the 1099-K came to you: who owes the tax, how to fix the form, and what to file.
United States · Business tax · Individuals · Self-employed
The 1099-K threshold for payment apps and marketplaces, who gets a form below it, and why platform income is reportable with or without one.
United States · Business tax · Individuals · Self-employed
Charged your own card on your own reader? Whether it is income, how to book it, why the 1099-K runs high, and how to show it on the return.
United States · Business tax · Self-employed · Partnerships · Corporations
A 1099-K for personal items sold for less than you paid: why the loss is not deductible, where to enter the amount, and how to prove your cost basis.
United States · Business tax · Individuals
Why Form 1099-K shows gross sales, and how to subtract returns, cost of goods sold, fees and other costs on Schedule C to reach net profit.
United States · Business tax · Self-employed
For managers and CFOs of private credit, direct lending and mortgage funds: PIK and OID, loan fees, market discount, defaults, restructurings, K-1s or 1099s.
United States · Business tax · Partnerships
How a startup's stock buyback can cost founders and new investors QSBS: the significant redemption test, the two windows, exceptions and timing a round.
United States · Business tax · Corporations
Which venture fund LPs and carry holders can exclude QSBS gains, how later closes affect eligibility, and what exit K-1s and stock distributions must report.
United States · Business tax · Partnerships · Individuals
Does a foreign subsidiary, offshore IP or a team abroad hurt QSBS for a Delaware startup? The look-through, asset limit, flip shares and what counsel asks.
United States · Business tax · Corporations
For real estate sponsors: what each deal files, who prepares investor K-1s, how sponsor fees are taxed, and what changes at refinance or sale.
United States · Business tax · Partnerships · Corporations
Your 1099-NEC includes money that repaid your fees, materials or travel: when it is income, how to show the offset on Schedule C, and when to ask for a fix.
United States · Business tax · Individuals · Self-employed
When depreciation on GPU servers rented out by the hour can offset W-2 income: rental activity tests, material participation, at-risk loans and the loss cap.
United States · Business tax · Individuals · Self-employed · Partnerships
Whether an SBIR or STTR award or a Department of Energy grant is taxable to a startup corporation, in which year, and what it changes for research deductions and books.
United States · Business tax · Corporations
Reselling cards, clothes, sneakers or tickets online: when sales are personal, hobby or business income, what a 1099-K means, and the records to keep.
United States · Business tax · Individuals · Self-employed
Why the Form 1120-S balance sheet on Schedule L will not balance or tie to last year, which bookkeeping errors cause it, and how to fix them before you file.
United States · Business tax · Corporations
Unequal S corp distributions between shareholders: when they put the S election at risk, what the IRS looks at, and what a preparer weighs.
United States · Business tax · Corporations
What happens when an S corporation's nondividend distribution exceeds stock basis: capital gain, reported on Form 7203, Form 8949 and Schedule D.
United States · Business tax · Corporations
Your S election was accepted but you kept filing Schedule C: which Forms 1120-S and 1040-X to file, the per-shareholder penalty, payroll and proof tax was paid.
United States · Business tax · Self-employed · Corporations
Whether SAFE and convertible note money is taxable to a startup, how it shows on Form 1120, when note interest is deductible, and what conversion changes.
United States · Business tax · Corporations
Which Schedule C expenses the IRS questions, how returns are picked, and the records that back up car, travel, meal, home office and other lines.
United States · Business tax · Self-employed
For fund CFOs handling investor sales, redemptions and secondaries: section 754 elections, mandatory basis adjustments, buyer notices and K-1 reporting.
United States · Business tax · Partnerships
How US business owners estimate tax on an asset, stock, or partnership-interest sale, allocate the price, and prepare records before accepting an offer.
United States · Business tax · Self-employed · Partnerships · Corporations
Whether GPU servers in a Texas, Virginia or other colocation data center create state income or franchise tax, registration and property tax filings.
United States · Business tax · Corporations · Partnerships
How a partnership, LLC or corporation self-certifies as a qualified opportunity fund on Form 8996, meets the yearly asset test, and what changes for new zones.
United States · Business tax · Partnerships · Corporations · Individuals
What a small business accountant's yearly bill covers, what makes it rise, whether you can be billed for emails and calls, and how to compare two quotes.
United States · Business tax · Self-employed · Partnerships · Corporations
What a GPU cloud or hardware startup can confirm in a QSBS attestation letter: gross assets, active use, leasing and engineering risk, and its records.
United States · Business tax · Corporations · Individuals
What a single-deal SPV or co-invest vehicle files each year: Form 1065 even with no income, investor K-1s, fees and carry, tax distributions and late penalties.
United States · Business tax · Partnerships
What a startup C corporation pays each year for its Form 1120, bookkeeping and Delaware and state charges, and which filings raise the fee as you grow and hire.
United States · Business tax · Corporations
Nine states tax no wages. See what an LLC, S corporation or owner still pays there: franchise, gross receipts, commerce, profits and capital gains taxes.
United States · Business tax · Individuals · Self-employed · Partnerships · Corporations
Report the full 1099-NEC on Schedule C line 1, then deduct crew and subcontractor pay. Covers 1099s you must send, the nominee rule and the records to keep.
United States · Business tax · Self-employed · Partnerships
How a US corporation or partnership switches accountants mid-year: deadlines, Form 8821 or 2848, payroll, state access and the records the old firm must return.
United States · Business tax · Corporations · Partnerships
How Texas margin tax is calculated, which deduction gives the lowest tax, and what counts as cost of goods sold for makers, contractors and GPU clouds.
United States · Business tax · Corporations · Partnerships
Find out whether a Texas LLC or corporation owes franchise tax, which information report is still due below the threshold, and how to clear missed filings.
United States · Business tax · Self-employed · Partnerships · Corporations
Form 5471 categories, CFC income, related elections and filing deadlines for US citizens and residents who own a business abroad.
United States · Business tax · Individuals · Corporations
Paid through Venmo, Cash App or Zelle for work? What is taxable without a 1099-K, which payments count, how to separate personal money, and what records to keep.
United States · Business tax · Individuals · Self-employed
How a startup C corporation books venture debt with warrants and deducts interest, warrant value (OID), fees and end-of-term payments on its return.
United States · Business tax · Corporations
Find the federal and state returns for a sole proprietor, LLC, partnership, S corporation, or C corporation, including filing rules for a quiet year.
United States · Business tax · Self-employed · Partnerships · Corporations
When a US business can deduct unsold or obsolete inventory such as last-generation GPU servers or superseded cooling parts, and the records the IRS expects.
United States · Business tax · Corporations · Partnerships
How to tell if a 1099-K is wrong, who corrects it, and how to file when no fix comes: a wrong amount, half a year, or an EIN instead of your SSN.
United States · Business tax · Individuals · Self-employed
A first-year filing checklist for US sole proprietors, partnerships, and corporations: deadlines, start-up costs, records, elections, and e-filing.
United States · Business tax · Self-employed · Partnerships · Corporations
How to close a US LLC or corporation, file final federal and state returns, handle payroll and leftover assets, and deactivate its EIN.
United States · Compliance and closing · Self-employed · Partnerships · Corporations
How to dissolve a Delaware C corp in order: approvals, franchise tax, the certificate of dissolution, Form 966, the final Form 1120, and why void isn't closed.
United States · Compliance and closing · Corporations
When a US corporation, LLC or partnership files its own FBAR for accounts abroad, and when officers who can sign and majority owners must file too.
United States · Compliance and closing · Corporations · Partnerships · Individuals
Yearly or two-year LLC report fees, taxes and due dates for all 50 states and DC, with each state's rule, official source and what a late filing can cost.
United States · Compliance and closing · Self-employed · Partnerships
Compare keeping, converting, or replacing an LLC or corporation after a move, including EINs, S elections, state filings, and payroll.
United States · Compliance and closing · Self-employed · Partnerships · Corporations
How to identify why a US LLC or corporation lost good standing, restore its state status, and check the tax filings and elections still due.
United States · Compliance and closing · Self-employed · Partnerships · Corporations
How a closing startup returns leftover cash to SAFE, preferred and common holders, how each side is taxed, and what the company files: Form 966, 1099-DIV, 1120.
United States · Compliance and closing · Corporations
Which missed federal, Delaware, state, payroll and equity tax filings a US startup corporation should fix first before a seed or Series A round, and what each miss costs.
United States · Compliance and closing · Corporations
What a buyer's tax due diligence checks in a US startup corporation, how far back the IRS and states can assess, and what to fix or disclose before signing.
United States · Compliance and closing · Corporations
Which tax items a startup lists as exceptions on a Series A disclosure schedule, which years are still open, and how to prove returns were filed and tax paid.
United States · Compliance and closing · Corporations
For GPs and CFOs closing a hedge, private equity, venture, credit or crypto fund: when the final 1065 and K-1s are due, and how reserves and trusts change them.
United States · Compliance and closing · Partnerships
How the Augusta rule works when your S corporation, C corporation or partnership rents your home: the 14-day limit, reasonable rent, records and Form 1099-MISC.
United States · Deductions and credits · Corporations · Partnerships · Self-employed
Which business meals are half or fully deductible, whether coffee counts, per diem on the road, and how to record meals in the books and keep proof.
United States · Deductions and credits · Self-employed · Partnerships · Corporations
How to deduct a business trip that includes vacation days: what makes it business, which flights, hotel nights and meals count, and what records prove it.
United States · Deductions and credits · Self-employed · Partnerships · Corporations
Compare personal and business ownership of a car or truck, the heavy-vehicle write-off rules, and what mixed use means for an LLC or S corporation.
United States · Deductions and credits · Self-employed · Partnerships · Corporations
Does buying or upgrading equipment before December 31 cut your business tax? What counts as in service, what the deduction really saves, and what waiting costs.
United States · Deductions and credits · Self-employed · Partnerships · Corporations
What an influencer, streamer or video creator can deduct: the business test, gear, clothes, props, free products, travel, a home studio, gifts and records.
United States · Deductions and credits · Self-employed · Corporations
What a US hardware startup can deduct now under section 174A for engineers and prototypes, and what is research abroad, depreciable tooling or inventory instead.
United States · Deductions and credits · Corporations
Section 174 reversed: how a startup corporation deducts US developer pay under section 174A, and what to do with 2022–2024 amounts still being amortized.
United States · Deductions and credits · Corporations
S corp premiums for an owner above the ownership threshold go in W-2 box 1; the owner may deduct them on Schedule 1, line 17. Plus partner, LLC and C corporation rules.
United States · Deductions and credits · Self-employed · Partnerships · Corporations
Who qualifies for the home office deduction when self-employed, with or without a W-2 job, and how the simplified method and Form 8829 compare.
United States · Deductions and credits · Self-employed
A practical order for US business owners to check expenses, equipment, qualified business income, retirement plans, credits, and state elections.
United States · Deductions and credits · Self-employed · Partnerships · Corporations
What an IRS mileage log must show, whether an app or notebook is enough, which trips are commuting, and how home-office and coworking trips are treated.
United States · Deductions and credits · Self-employed · Partnerships · Corporations
Why an S corporation owner's salary can shrink the QBI deduction, when wages can help, and which K-1 figures belong on the owner's return.
United States · Deductions and credits · Corporations · Partnerships
How an S corporation can repay an owner for home office, phone, internet and car costs under an accountable plan, with records and payroll rules.
United States · Deductions and credits · Partnerships · Corporations
How the IRS separates a rental repair from an improvement for a water heater, roof or flooring, and the safe harbors that can still allow a deduction.
United States · Deductions and credits · Individuals · Partnerships
How a pre-revenue startup elects the R&D credit against payroll tax on Form 6765, who qualifies, the yearly cap, and when the Form 8974 offset starts.
United States · Deductions and credits · Corporations
Which costs gig drivers deduct on Schedule C: miles, platform fees, tolls, phone and supplies, how to report the 1099, and why you may still owe.
United States · Deductions and credits · Individuals · Self-employed
Your own health insurance is not a Schedule C expense. It is a Schedule 1 deduction (Form 7206), capped by net profit less some adjustments. How to record it.
United States · Deductions and credits · Individuals · Self-employed
How to choose between the standard mileage rate and actual car expenses for a business car, what each one covers, and which choices cannot be undone.
United States · Deductions and credits · Self-employed
Which pre-incorporation costs a new C corporation can deduct: organizational, start-up and research costs, founder reimbursement, and shares for code.
United States · Deductions and credits · Corporations
Can you deduct what you spent before your LLC or side business earned anything? The startup limit, 180-month write-off, start date and where to report.
United States · Deductions and credits · Self-employed · Partnerships
How Section 179, bonus depreciation and regular depreciation work for trucks, computers and machinery, including personal use, vehicle caps and later sales.
United States · Deductions and credits · Self-employed · Partnerships · Corporations
When GPU servers qualify for bonus depreciation or Section 179, how year-end readiness, foreign hosting and state rules matter, and how resale is taxed.
United States · Deductions and credits · Corporations · Partnerships · Self-employed
Who keeps the books for a US LLC or corporation you own from abroad, which owner transactions to mark for Form 5472, and the currency and records rules.
United States · Foreign owners · Self-employed · Corporations
A closed multi-member LLC with owners abroad still files Form 1065 for each active year. Which years, rebuilding the books, foreign-partner forms, penalties.
United States · Foreign owners · Partnerships
For non-US founders closing a Delaware C corporation: what walking away leaves behind, the final Form 1120, Form 5472 and Form 966, and returning leftover cash.
United States · Foreign owners · Corporations
Compare an LLC and a C corporation when one owner lives abroad: US returns, partner withholding, dividends, and the filings each owner may need.
United States · Foreign owners · Partnerships · Corporations
For foreign-owned US C corporations, see when Form 1120 and Form 5472 are due after Form 7004, when tax was due, and what late filing can cost.
United States · Foreign owners · Corporations
How an owner outside the US forms a Delaware LLC: certificate, registered agent, EIN without an SSN, bank, yearly Delaware tax and IRS Form 5472.
United States · Foreign owners · Self-employed · Corporations
How a foreign-based officer signs and files a US C corporation's Form 1120 with Form 5472, chooses e-file or mail, and pays from abroad.
United States · Foreign owners · Corporations
How a foreign-owned US C corporation reports its first short year, pre-launch costs and losses on Form 1120 when it has no sales.
United States · Foreign owners · Corporations
Compare direct sales, a US branch, corporation and parent-owned LLC for a company abroad supplying data centers, including first filings and funding.
United States · Foreign owners · Corporations
When a foreign corporation selling to US customers or owning a US LLC files Form 1120-F, how treaties affect filing, and what changes the answer.
United States · Foreign owners · Corporations
Why US funds withhold tax from foreign investors, when a US return can recover excess withholding, and how trading income, treaties and redemptions differ.
United States · Foreign owners · Individuals · Corporations
What a US startup collects and files when foreign angels or funds invest: W-8 forms, Form 5472, later withholding and the USRPHC statement and IRS notice.
United States · Foreign owners · Corporations
Annual Form 1120, Form 5472, withholding, and state filing rules for a US C corporation with a foreign owner, including years with no income.
United States · Foreign owners · Corporations
What a US single-member LLC owned by one foreign person files for any year it deals with its owner: pro forma Form 1120, Form 5472, deadlines and penalties.
United States · Foreign owners · Self-employed · Corporations
Federal withholding and forms for a US partnership or multi-member LLC with a foreign partner, including payments, partner credits, sales, and state rules.
United States · Foreign owners · Partnerships
Can a nonresident own a US LLC or corporation? Compare federal filings, S corporation limits, state taxes, EINs, and ITINs before choosing a structure.
United States · Foreign owners · Self-employed · Partnerships · Corporations
For US funds with foreign partners: when interest is exempt portfolio interest, withholding on undistributed dividends, and Forms 1042 and 1042-S.
United States · Foreign owners · Partnerships
Do marketplace, online store or app store payouts go on Form 5472? How the seller account name, owner transfers and W-8 forms shape a foreign-owned LLC's books.
United States · Foreign owners · Self-employed · Corporations
How a foreign owner catches up on a missed Form 5472, responds to a CP215 notice, and asks the IRS to remove a penalty.
United States · Foreign owners · Self-employed · Corporations
Your US company paid interest, royalties, dividends or fees abroad without withholding or Forms 1042 and 1042-S: what it owes, gross-up, late W-8s and penalties.
United States · Foreign owners · Corporations
How nonresident owners of US rental property handle federal withholding, the net-rent election, Form 1040-NR, missed returns, and state tax.
United States · Foreign owners · Individuals · Corporations
How a nonresident owner reports US business income on Form 1040-NR, claims expenses and withholding, and checks estimated and state tax.
United States · Foreign owners · Individuals · Self-employed
How a foreign owner takes money from a US LLC or C corporation, including draws, dividends, pay for work, loans, withholding and forms.
United States · Foreign owners · Self-employed · Corporations
How a foreign owner funds a US C corporation, records personal payments, and handles Form 5472 and interest withholding.
United States · Foreign owners · Corporations
How a foreign owner rebuilds each unfiled year of Form 5472 for a US single-member LLC: which years, what to log, estimates and checks.
United States · Foreign owners · Self-employed · Corporations
What a US single-member LLC owned from abroad must record for Form 5472: related parties, reportable transfers, exchange rates, estimates, record location.
United States · Foreign owners · Self-employed · Corporations
For owners abroad: which address to give a US registered agent, the IRS and a bank, what identity records to prepare, and whether remote opening is possible.
United States · Foreign owners · Self-employed · Partnerships · Corporations
A Delaware C corporation managed abroad still faces US tax on worldwide income. Learn when Delaware, another state, or a foreign country may also tax it.
United States · Foreign owners · Corporations
What a US C corporation with a foreign operating subsidiary files each year, when subsidiary income enters its US return, and how foreign owners affect Form 5472.
United States · Foreign owners · Corporations
What a foreign-owned US C corporation files, how it reports parent-company charges, and when it needs withholding and pricing records.
United States · Foreign owners · Corporations
What a foreign-owned US C corporation should send for Form 1120 and Form 5472, what raises the preparation scope, and what to confirm in a quote.
United States · Foreign owners · Corporations
When a non-resident or foreign company owes US tax on business income: US trade or business, where work is done, treaties, and how the entity changes it.
United States · Foreign owners · Self-employed · Partnerships · Corporations
What US employers should file after missed payroll deposits or returns, how to check an IRS penalty, and when someone can face personal liability.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
How California's ABC test decides if 1099 workers are employees for EDD payroll tax, the exceptions, what a mistake costs and what to do after an EDD letter.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
How to set up payroll in California for an LLC or corporation: register with the EDD, the four state payroll taxes, rates, deposits and quarterly returns.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
What a US business does when a contractor refuses a W-9 or Social Security number: backup withholding, Form 945, the 1099-NEC, and what to keep.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
Investors say your 1099 contractors look like employees: sizing back payroll tax at section 3509 rates, VCSP timing, founders, ISOs and disclosure.
United States · Owner pay and payroll · Corporations
Learn when regular US workers belong on payroll, what cash or transfer payments change, and how to review past employment tax filings and relief options.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
Compare a 1099 contractor with a W-2 employee on total cost: payroll tax, unemployment tax, workers' comp, benefits and the wage rules that follow status.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
Which state gets payroll withholding and unemployment tax when an employee works remotely or across state lines, and when an employer must register.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
How a US employer fixes an overpaid employee or payroll error: getting the money back, Form 941-X, Form W-2c, the books, and when interest applies.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
Founder salary in a venture-backed C corporation: no federal minimum, when founders are employees, payroll cost, 1099 co-founders and accrued pay.
United States · Owner pay and payroll · Corporations
What a US corporation files and books after granting stock options: Form 3921 for ISO exercises, NSO withholding and W-2 code V, 1099-NEC, deductions.
United States · Owner pay and payroll · Corporations
How a US startup hires someone in another country through an employer of record, a contractor or its own entity, and when each can create foreign tax or US filings.
United States · Owner pay and payroll · Corporations
When a US business can deduct a child's wages, which family payroll tax exceptions apply, and what records, filings, and labor rules matter.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
How a US business files late contractor 1099s or employee W-2s, responds to Notice 972CG, and requests information-return penalty relief.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
When an out-of-state employer must withhold Ohio city income tax for crews at a data center build, and when the job means a city net profit return.
United States · Owner pay and payroll · Corporations · Partnerships
For US businesses paying foreign contractors: when to collect a W-8, skip Form 1099-NEC, withhold US tax, or file Forms 1042 and 1042-S.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
An S corporation generally owes Social Security, Medicare and unemployment tax on a child's wages and files a W-2. How to fix cash pay, and whether it pays.
United States · Owner pay and payroll · Corporations
How single- and multi-member LLC owners take draws, distributions, or guaranteed payments, and how profit and self-employment tax are reported.
United States · Owner pay and payroll · Self-employed · Partnerships
Your payroll company or service skipped IRS deposits and a notice came. Who owes the tax, how to prove what was paid, penalty relief, personal liability.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
How long to keep payroll records under IRS, federal labor and state rules, including California, and what to export before a payroll provider closes.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
How a doctor, dentist or therapist who owns an S corporation can set a reasonable W-2 salary, compare it with employee pay and keep the records that support it.
United States · Owner pay and payroll · Corporations
Repricing underwater options after a down round: why a repriced ISO is a new grant, what restarts, the 30-day offer rule, 409A for NSOs and Form 3921.
United States · Owner pay and payroll · Corporations · Individuals
How a one-owner S corporation runs its own payroll: withholding, deposits, Form 941, Form 940, W-2 and W-3, due dates, and what a missed deposit costs.
United States · Owner pay and payroll · Corporations
See when an S corporation owner pays personal estimates, uses extra wage withholding, or must make a separate company or state payment.
United States · Owner pay and payroll · Corporations · Individuals
How a working S corporation owner sets reasonable W-2 pay, handles payroll, and corrects years when the corporation paid only distributions.
United States · Owner pay and payroll · Corporations
Paid federal tax through EFTPS that never came out of your S corporation pay? How the 1040, W-2 and Form 941 must match, and what a CP05A needs.
United States · Owner pay and payroll · Corporations
An S corporation owner who took only distributions: how to start payroll before year-end, deposit, file Form 941 and W-2, and fix the books.
United States · Owner pay and payroll · Corporations
US wage tax, payroll withholding, employee returns and company tax when a foreign corporation sends engineers to install or commission data center equipment.
United States · Owner pay and payroll · Corporations
A first-paycheck checklist for US employers: tax accounts, hiring forms, withholding, deposits, returns, and owner payroll rules.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
Switching payroll providers mid-year: what to collect, which year-to-date totals to load, who files Form 941 and W-2s, and what to change with the IRS.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
TFRP: when the IRS can make an owner or officer pay unpaid payroll tax personally, how the revenue officer interview works, and which records to gather.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
Can a single-member LLC owner be paid W-2 wages? The rule, what to correct if payroll already ran, how the owner files, and what an S election changes.
United States · Owner pay and payroll · Self-employed
Which contractors get a Form 1099-NEC: the threshold, LLCs, corporations, card and payment-app payments, what your books need, the due date and free e-filing.
United States · Owner pay and payroll · Self-employed · Partnerships · Corporations
Born in the US, raised abroad, never filed? Whether you owe back US taxes, what a bank's W-9 or FATCA letter means, how many years to file and where to start.
United States · Personal tax · Individuals
Short-term rental income goes on Schedule E unless you provide substantial services. Average stay does not decide it; services do and set self-employment tax.
United States · Personal tax · Individuals · Self-employed
How AMT on incentive stock options is figured, how to find the ISO spread you can exercise before AMT starts, and what the faster exemption phaseout changed.
United States · Personal tax · Individuals
How long a Form 1040-X takes, what received, adjusted and completed mean, which amendments the tracker can't show, and what to do after 16 weeks.
United States · Personal tax · Individuals · Self-employed
Missed a business expense, or claimed one you shouldn't have? When to file Form 1040-X, how far back, the proof you need, and the tax, interest and penalties.
United States · Personal tax · Individuals · Self-employed
Left a 1099, freelance, rental or crypto income off past US returns? When to amend, how many years back, and the tax, interest and penalties to expect.
United States · Personal tax · Individuals · Self-employed
Buying into a US fund manager: what changes from W-2 to K-1, whether your buy-in and loan interest are deductible, and what to gather for your first return.
United States · Personal tax · Individuals
How the carried interest three-year rule affects fund principals, K-1 box 20 code AM, Worksheets A and B, Form 8949 adjustments and late fund statements.
United States · Personal tax · Individuals
How carry points in a fund's GP and phantom carry are taxed for employees: grant, vesting, payout, protective 83(b) elections, forfeiture and co-invest loans.
United States · Personal tax · Individuals
How a US resident can correct missed FBARs and Forms 8938, 3520 or 5471, choose the right IRS procedure, and address penalty notices.
United States · Personal tax · Individuals
Find which past US individual returns are due, get missing records, handle IRS notices, check refund deadlines, and estimate tax and penalties.
United States · Personal tax · Individuals · Self-employed
Choosing a CPA for 20 to 40 fund K-1s: what the annual work usually includes, what drives the fee, and what investors and fund principals should gather.
United States · Personal tax · Individuals
Do your own US taxes with software or hire a CPA, enrolled agent or tax attorney? Free IRS options, who can represent you, credential checks and red flags.
United States · Personal tax · Individuals · Self-employed
Writing off worthless startup stock: which year to claim it, section 1244 ordinary loss, exercised options, SAFEs, loans to the company and amending late.
United States · Personal tax · Individuals
When a hedge fund or private equity deferred bonus is taxed, why Social Security and Medicare come out at vesting, W-2 codes Y and Z, and deferring more.
United States · Personal tax · Individuals
How owners of Delaware statutory trusts with no K-1 report rent, split carried-over depreciation, use a cost study, file in property states and handle the sale.
United States · Personal tax · Individuals
Early exercising startup stock options: when an 83(b) helps for NSOs and ISOs, the AMT election, the ISO limit trap, and when long-term and QSBS clocks start.
United States · Personal tax · Individuals
How earnout payments from selling your startup are taxed: capital gain or wages, installment reporting on Form 6252, basis, interest, missed targets and QSBS.
United States · Personal tax · Individuals
Moving abroad from California, New York or Virginia? See when expats stop being state residents, the 546- and 548-day rules, and what the state still taxes.
United States · Personal tax · Individuals · Self-employed
When escrow and indemnity holdback money from a startup sale is taxed, how to report it on Form 6252, and why your Form 1099-B may not match.
United States · Personal tax · Individuals
Filing taxes for a deceased parent or spouse: the final Form 1040, Form 1041 for the estate, K-1s for heirs, unfiled years and who pays the IRS.
United States · Personal tax · Individuals
Why payroll withholds a flat rate on a large hedge fund or private equity bonus, how to avoid the estimated tax penalty, and what is left to do by year-end.
United States · Personal tax · Individuals
How ISOs and NSOs are taxed when you exercise and sell startup stock options, which forms arrive (W-2, Form 3921, 1099-B) and when tax is due.
United States · Personal tax · Individuals
Leaving a startup with vested options? The 90-day window, the 3-month ISO rule, NSO wages, extended windows, the cash you need, and letting options lapse.
United States · Personal tax · Individuals
Learn when renouncing US citizenship or surrendering a long-held green card triggers exit tax, and which returns and notices you must file.
United States · Personal tax · Individuals
Which accounts go on your FBAR (payment app balances, TFSAs, joint, family and power-of-attorney accounts) and how to find each account's maximum value.
United States · Personal tax · Individuals
How visa holders correct a Form 1040 filed instead of Form 1040-NR, review credits, and recover Social Security and Medicare tax withheld in error.
United States · Personal tax · Individuals · Self-employed
Your tax return is not showing up or a CP59 says you didn't file: how long to wait, what proves you filed, and when and how to resend the return.
United States · Personal tax · Individuals · Self-employed
When US citizens and green card holders abroad must file, how foreign pay is taxed, and when exclusions, credits, housing and self-employment rules apply.
United States · Personal tax · Individuals · Self-employed
For investors whose fund or real estate syndication closed: rebuild basis, account for debt relief, and check whether suspended losses become deductible.
United States · Personal tax · Individuals
How a new US tax resident finds the residency start date, splits a dual-status return, and handles foreign income, accounts, and property.
United States · Personal tax · Individuals
Who must report foreign bank accounts and assets to the US: FBAR and Form 8938 thresholds, what counts, where to file, due dates and penalties.
United States · Personal tax · Individuals · Self-employed
Foreign earned income exclusion or foreign tax credit: which fits a low-tax or high-tax country, the child credit and IRA costs, and the five-year lock.
United States · Personal tax · Individuals · Self-employed
How to count 330 full days, pick the 12-month window, show a foreign tax home or bona fide residence, and file your first FEIE return after moving abroad.
United States · Personal tax · Individuals · Self-employed
How US residents report foreign wages, pensions and interest, convert currency, claim a foreign tax credit and check treaty exceptions.
United States · Personal tax · Individuals
Which US forms a foreign pension or retirement scheme needs (FBAR, Form 8938, Forms 3520 and 3520-A, Form 8621) and whether it is taxed before you retire.
United States · Personal tax · Individuals
Why Form 1116 credits less than the foreign tax you paid: the limit, passive and general categories, which taxes count, and carrying unused tax back or forward.
United States · Personal tax · Individuals · Self-employed
For founders moving to the US on an O-1, H-1B or E-3: when tax residency starts, how unvested shares are taxed, and what a home company may file.
United States · Personal tax · Individuals
When investors reset vesting on founder shares at a priced round: whether it is taxable, when a new 83(b) is needed, and what happens to the QSBS clock.
United States · Personal tax · Individuals · Corporations
Founder stock issued after SAFE money: why the gap between value and price can be taxed as pay, what an 83(b) does, and how to fix it before a priced round.
United States · Personal tax · Individuals · Corporations
After you file an 83(b) for founder shares: what goes on Form 1040, whether to attach it, W-2 or 1099, basis, holding period, IP and spouse signatures.
United States · Personal tax · Individuals
Residency, move-year K-1s and company taxes for fund managers moving to Florida or Texas from New York, California, New Jersey or Connecticut.
United States · Personal tax · Individuals · Partnerships
How individuals report foreign funds and bank wealth products on a US return, including PFIC status, Form 8621, elections, sales and missed filings.
United States · Personal tax · Individuals
How much you can give each person before filing Form 709, when gift tax is actually owed, how spouses split gifts, and which payments count as gifts.
United States · Personal tax · Individuals
When a US person receives money or property from family abroad, learn when it is taxable, when Form 3520 is required, and what records to keep.
United States · Personal tax · Individuals
When selling your main home is tax-free: the 2-of-5-year rule, rental use, selling early, married couples, military and how to report a Form 1099-S.
United States · Personal tax · Individuals
Heirs and executors of a hedge fund, private equity or real estate fund interest: basis step-up, the 754 election, the year-of-death K-1 and suspended losses.
United States · Personal tax · Individuals · Partnerships
US reporting and tax rules for foreign life and savings policies, including FBAR, Form 8938, premiums, withdrawals, and death benefits.
United States · Personal tax · Individuals
How the US taxes a citizen abroad on local funds, foreign shares, deposits, ISAs, PEAs and US brokerage accounts, and which holdings bring the PFIC rules.
United States · Personal tax · Individuals
How to answer a CP2000 or CP2501: check the matched forms, agree or disagree, prove stock basis or identity theft, and what a missed reply date sets off.
United States · Personal tax · Individuals · Self-employed
What individual fund investors pay when K-1s arrive late, when to extend or amend, how to file with a missing K-1 in October, and how to answer CP2000.
United States · Personal tax · Individuals
What happens to unvested deferred pay, carry and co-invest when you leave a hedge fund or PE firm, and how make-whole, garden leave and severance are taxed.
United States · Personal tax · Individuals
For visa holders and green card holders leaving the US: when tax residency ends, which return to file, and what happens to retirement and bank accounts.
United States · Personal tax · Individuals
For investors with a big gain from a property, a business or a syndication sale: 1031 exchange, DST or opportunity zone fund, and whether to invest now or wait.
United States · Personal tax · Individuals · Partnerships
When a US citizen or resident can file jointly with a spouse abroad, and how joint or separate filing changes tax and reporting.
United States · Personal tax · Individuals
How to claim rental depreciation you never took: amend one return or file Form 3115 for several, how to figure the catch-up, and what a sale changes.
United States · Personal tax · Individuals
Never got your W-2, or got a wrong one? When to ask the employer, when the IRS steps in, how to fill out Form 4852, and when to amend.
United States · Personal tax · Individuals
Will California tax your startup shares, options, RSUs or escrow after you move before an exit? Residency tests, timing, the move-year return and audit records.
United States · Personal tax · Individuals
Does a state make you file a nonresident return, and is there a minimum? Each state's test, reciprocal agreements, day rules and what withholding covers.
United States · Personal tax · Individuals · Self-employed
What opportunity zone fund investors owe when deferred gain comes due, how the amount is figured, paying without fund cash, and fixing missing Forms 8997.
United States · Personal tax · Individuals · Partnerships
Why a rental Form 1099-K can exceed the rent you kept, what goes on Schedule E, and how to tie the form to payouts, deposits and a CP2000 notice.
United States · Personal tax · Individuals · Self-employed
How a foreign fund is taxed under a QEF election, a mark-to-market election or the default section 1291 rules, with late, first-year and purging elections.
United States · Personal tax · Individuals
When a foreign fund or product needs Form 8621, which exceptions apply, what missed years cost, and how to fix PFIC sales reported as capital gains.
United States · Personal tax · Individuals
What happens to foreign mutual funds and ETFs when you become a US tax resident: selling before you arrive, first-year elections, Form 8621 and leaving again.
United States · Personal tax · Individuals
How US citizens and residents report rent and home sales abroad, convert currency, depreciate rentals, and handle foreign tax.
United States · Personal tax · Individuals
QSBS requirements for founder and employee stock: the 3-, 4- and 5-year tiers for shares acquired after July 4, 2025, the per-company cap, options and RSUs.
United States · Personal tax · Individuals
Who pays quarterly estimated tax on 1099, gig or investment income, the 4 due dates, the safe harbors that avoid the penalty, and what a missed payment costs.
United States · Personal tax · Individuals · Self-employed
For syndication and real estate fund investors: when K-1 depreciation losses can offset W-2 income, how a spouse's status counts, and what you must prove.
United States · Personal tax · Individuals
What account transcript codes 150, 570, 571, 810, 846, 898 and 971 mean for a late IRS refund, normal refund times, offsets, traces and when to call.
United States · Personal tax · Individuals · Self-employed
Which IRS letter is holding your refund (CP05, CP05A, 4464C, 6255C, 5071C, 4883C), what to send, how long to wait and when the Taxpayer Advocate can help.
United States · Personal tax · Individuals · Self-employed
Which states tax your pay when you work remotely for an employer in another state or commute across a state line, how the resident credit works, and what to file.
United States · Personal tax · Individuals · Self-employed
Renouncing while behind on US taxes: what the Form 8854 five-year certification needs, the former-citizen relief procedures, and the order of steps.
United States · Personal tax · Individuals
When rental expenses and depreciation start with no tenant: the placed-in-service date, repairs before listing, vacancy costs, closing costs and Schedule E.
United States · Personal tax · Individuals
US rental tax rules for individual landlords: income, expenses, depreciation, rental losses, short stays, personal use, and sales.
United States · Personal tax · Individuals
Fund employees repaying a sign-on or guaranteed bonus, a draw or clawed-back carry: gross or net, the claim-of-right credit, and Social Security and Medicare.
United States · Personal tax · Individuals · Partnerships
How a section 1045 QSBS rollover works: the 6-month hold, the 60-day purchase, partial reinvestment, basis, holding period and making the election.
United States · Personal tax · Individuals
Who must file Form 7203 with an S corporation K-1, and how to build stock and debt basis year by year from the K-1, your records and the company's books.
United States · Personal tax · Corporations · Individuals
How to count fair rental days and personal use days on Schedule E line 2, and split expenses on a vacation home or rental you also use.
United States · Personal tax · Individuals
Self-employed Americans abroad: when US self-employment tax applies, which countries have totalization agreements, and how a certificate of coverage works.
United States · Personal tax · Individuals · Self-employed
How depreciation recapture is taxed when you sell a US rental, which forms report it, and how owner financing, a 1031 exchange or a loss change the result.
United States · Personal tax · Individuals
US landowners: compare tax on a data center sale, option, ground lease or utility easement, including inherited farmland and an owner living in Canada.
United States · Personal tax · Individuals · Partnerships
How a startup tender offer or secondary sale is taxed: capital gain, a price above the 409A, ISO shares, buybacks, QSBS timing, 1099-B fixes and estimates.
United States · Personal tax · Individuals
Prove a 7-day average stay and your hours so a short-term rental loss may offset W-2 income: the records to keep, whose hours count, and other limits.
United States · Personal tax · Individuals
If your spouse's business hid income or never paid tax on your joint return, you may still owe it. See innocent spouse relief, Form 8857 and its deadlines.
United States · Personal tax · Individuals · Self-employed
Fund investors with K-1s from many states: when state-source income requires a return, and what composite returns, withholding and PTET cover.
United States · Personal tax · Individuals
For fund employees paid a deferred bonus, severance or non-compete pay after leaving New York or California: which state taxes it and how workdays count.
United States · Personal tax · Individuals
Will your state tax a QSBS gain the IRS excludes? California, Pennsylvania, Oregon and Illinois do; what California charges and how to report and pay it.
United States · Personal tax · Individuals
Streamlined Domestic Offshore Procedures for US residents: which years to amend, which assets count toward the penalty, how to value and pay, and how to fix mistakes.
United States · Personal tax · Individuals
What goes in a Streamlined Foreign Offshore package: three returns, Form 14653 and its narrative, six FBARs, payment, the Austin address and what follows.
United States · Personal tax · Individuals
Who can use the Streamlined Foreign Offshore Procedures: the 330-day test, moving back to the US, joint returns, SSNs, and the 3 returns and 6 FBARs to file.
United States · Personal tax · Individuals
Missed FBARs or foreign forms? Compare streamlined procedures, late FBARs, late information returns, a self-filed Form 1040-X and voluntary disclosure.
United States · Personal tax · Individuals
When suspended passive losses from real estate fund and syndication K-1s can offset gains, why state carryovers differ, and how to rebuild lost carryovers.
United States · Personal tax · Individuals
Your tax preparer filed a wrong or fake return, took your refund or never filed: how to fix your IRS account, who pays penalties, and how to report it.
United States · Personal tax · Individuals · Self-employed
What to check when a citizenship or green card sponsorship case involves missing US returns, tax debt, nonresident filing, or foreign income.
United States · Personal tax · Individuals
Owe AMT or income tax on stock options whose shares dropped? A same-year sale, an IRS payment plan, the Form 8801 credit and the capital loss, in order.
United States · Personal tax · Individuals
How US tax treats cash and buyer stock when your startup is acquired: reorganization rules, taxed cash, new basis, QSBS, option cash-outs, 280G and forms.
United States · Personal tax · Individuals
How Americans abroad vet a US expat tax preparer: PTIN and CPA or enrolled agent checks, what a quote should list, what raises the cost, and red flags.
United States · Personal tax · Individuals · Self-employed
Which states follow the federal QSBS exclusion, which tax the gain or add it back, and what a move or a payment in a later year changes. State by state.
United States · Personal tax · Individuals
How to fill out Form W-4 Step 2 when you have two jobs or both spouses work: the estimator, the worksheet or the checkbox, and the Step 4(c) amount.
United States · Personal tax · Individuals
W-2 employee living abroad: who taxes the pay, whether US income tax and FICA withholding continue, Form 673, totalization and split workdays.
United States · Personal tax · Individuals
How a US resident reports wages from a foreign employer, handles foreign withholding, and checks payroll and social security coverage.
United States · Personal tax · Individuals
Out-of-state seller shipping goods to California: what counts toward the threshold, when to register with CDTFA, what tax to collect, and when you can stop.
United States · Sales tax · Self-employed · Partnerships · Corporations
How a US seller can correct missed state sales tax collection, check voluntary disclosure, handle marketplace sales, and prepare the records needed to file.
United States · Sales tax · Self-employed · Partnerships · Corporations
Contractors: when you pay sales tax on materials and when you charge it. Texas, California, New York, Washington and Michigan, by contract type and repair.
United States · Sales tax · Self-employed · Partnerships · Corporations
Which resale and exemption certificates to collect from business customers, when to get them, how long to keep them, and what an audit does if one is missing.
United States · Sales tax · Self-employed · Partnerships · Corporations
How registered US sellers find filing deadlines, report direct and marketplace sales, file zero or late returns, and close sales tax permits.
United States · Sales tax · Self-employed · Partnerships · Corporations
When Canadian and other foreign businesses must collect US state sales tax, how marketplace sales count, and whether they need US identification or a company.
United States · Sales tax · Self-employed · Partnerships · Corporations
Paid invoices went out with no sales tax? What a US seller owes the state, whether to rebill the customer, tax-included prices, and penalties.
United States · Sales tax · Self-employed · Partnerships · Corporations
Is your two-sided platform a marketplace facilitator? How states define it, when registration starts, who collects, and what services and fees change.
United States · Sales tax · Partnerships · Corporations
Does a merchant of record or marketplace platform take over a SaaS company's sales tax? What state rules cover, what stays yours, and what proof to keep.
United States · Sales tax · Self-employed · Partnerships · Corporations
Montana has no general sales tax or sales tax nexus threshold. See what out-of-state and Montana sellers still do, and the lodging and income taxes that apply.
United States · Sales tax · Self-employed · Partnerships · Corporations
Out-of-state seller? Check New York's $500,000 and 100-sale tests over four sales tax quarters, then register, get a Certificate of Authority and collect.
United States · Sales tax · Self-employed · Partnerships · Corporations
Choose between in-house filing, sales tax software, a certified provider, or a bookkeeper or CPA, and see what still needs a person.
United States · Sales tax · Self-employed · Partnerships · Corporations
How a resale certificate works, what it covers, what you owe on stock you use, and how to recover sales tax a supplier charged. Texas, New York, California.
United States · Sales tax · Self-employed · Partnerships · Corporations
What a state sales tax audit letter or information request means, which records auditors ask for, how a sample becomes a bill, and how to prepare or appeal.
United States · Sales tax · Self-employed · Partnerships · Corporations
Every state's and DC's sales tax economic nexus threshold in one table: dollar line, sales count, period measured, and which states have none.
United States · Sales tax · Self-employed · Partnerships · Corporations
Investors found SaaS sales tax you never collected: how to size the exposure by state, book a reserve, list it for the round and time voluntary disclosure.
United States · Sales tax · Corporations
Whether handmade goods and art commissions are taxable, when a craft fair or convention in another state needs a permit, and what to record.
United States · Sales tax · Individuals · Self-employed · Corporations
Sales tax nexus in a state does not by itself mean an income or franchise return there. See how the two tests differ and what to map first.
United States · Sales tax · Self-employed · Partnerships · Corporations
How US state sales tax applies to colocation, hosting and GPU compute, mixed invoices, power, cross-connects, resale and customers outside Texas.
United States · Sales tax · Corporations · Partnerships · Self-employed
When a seller charges no sales tax on GPU servers for a Texas or Virginia colocation data center: the use tax you owe, tenant exemptions, credits and catch-up.
United States · Sales tax · Corporations · Partnerships
When data center cooling and power installers pay sales tax on materials or charge it in Texas, California and Virginia, and what the owner's exemption covers.
United States · Sales tax · Corporations · Partnerships
Is rent subject to sales tax? How short stays, commercial space and equipment rentals are taxed in four states, who collects, and how to file and book it.
United States · Sales tax · Individuals · Self-employed · Partnerships · Corporations
Which states tax SaaS, how the product's label changes the answer, when a remote employee or server creates nexus, and when a US software startup must register.
United States · Sales tax · Corporations
Which server, installation and maintenance invoice lines are taxable, who collects on drop shipments, and what data center exemption certificates cover.
United States · Sales tax · Corporations · Partnerships · Self-employed
Which address sets the sales tax rate on a shipped order? New York, Texas and California compared, plus how to fix invoices taxed at the wrong address.
United States · Sales tax · Self-employed · Partnerships · Corporations
Shopify charges sales tax only where you set it up. See which states to turn on, why the state permit comes first, and who files and pays the returns.
United States · Sales tax · Self-employed · Partnerships · Corporations
Is SaaS taxable in Texas? How the 80% rule, local taxes, the $500,000 permit test, bundles and invoices work for a software seller with Texas customers.
United States · Sales tax · Corporations · Partnerships · Self-employed
Texas economic nexus for remote sellers: what counts toward the safe harbor, how to get a permit, and which local rate to collect.
United States · Sales tax · Self-employed · Partnerships · Corporations
When a business owes use tax on equipment or supplies bought out of state or online untaxed: the rate, credit, reporting, booking and a vendor's back bill.
United States · Sales tax · Self-employed · Partnerships · Corporations
Learn when physical presence or sales into a state require sales tax collection, how economic nexus works, and what to check before registering.
United States · Sales tax · Self-employed · Partnerships · Corporations
A new US LLC or corporation needs its state record checked, an EIN when required, owner records, state follow-up filings, and tax accounts before activity starts.
United States · Starting a business · Self-employed · Partnerships · Corporations
How founders of a US startup file an 83(b) election within 30 days, how founders in Canada, Taiwan or China mail it, and what is left once the deadline passes.
United States · Starting a business · Individuals · Corporations
Forming a New Mexico LLC from another state or country: the online filing and fee, the registered agent, gross receipts and income tax, and IRS filings.
United States · Starting a business · Self-employed · Partnerships · Corporations
When an LLC or corporation formed elsewhere must register in a US state, how to apply, and what to check if registration is late.
United States · Starting a business · Self-employed · Partnerships · Corporations
How two LLC members can divide capital, future profits, cash, and control when one contributes money and the other contributes work.
United States · Starting a business · Partnerships · Corporations
How an F-1, H-1B or H-4 visa holder's US tax residency, number of LLC owners and tax elections determine federal filing for a business or rental.
United States · Starting a business · Individuals · Self-employed · Partnerships · Corporations
Should you incorporate your startup before revenue or wait for a first customer or investor? The yearly cost of forming early and the tax cost of waiting.
United States · Starting a business · Corporations
Compare your home state, Delaware and Wyoming for an LLC or corporation, including extra registrations, annual costs, tax and privacy.
United States · Starting a business · Self-employed · Partnerships · Corporations
A Wyoming LLC's annual license tax and report, what happens if late, what its filings make public, and what a nonresident owner still files at home.
United States · Starting a business · Self-employed · Partnerships
How a Canadian corporation tracks the cost of US-dollar stocks in CAD: which exchange rate to use, where gains go on the T2 and when a T1135 is due.
Canada · Bookkeeping · Corporations
Why a corporation's books show amortization (depreciation) but its T2 claims CCA, and how Schedule 1 and Schedule 8 link them, with sales and GIFI codes.
Canada · Bookkeeping · Corporations
How a Canadian creator or app developer reports platform payouts on the T2125: gross or net, US tax withheld, exchange rates and the foreign tax credit.
Canada · Bookkeeping · Individuals · Self-employed
Bookkeeper, accountant or CPA for a Canadian small business: who files the T2 and GST/HST, what a tax service can do, and when a licensed CPA is required.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
What a self-employed person in Canada needs from an app or accounting software for the T2125: GST/HST, a vehicle log, records kept in Canada and instalments.
Canada · Bookkeeping · Self-employed
What a Canadian small business or corporation pays a bookkeeper each month, what drives the fee, what a quote should list, and how to compare quotes.
Canada · Bookkeeping · Self-employed · Corporations
What changes in the bookkeeping when a Canadian sole proprietorship incorporates: cutoff date, final T2125, asset values, GST/HST, payroll, opening entries.
Canada · Bookkeeping · Self-employed · Corporations
How a new Canadian-controlled private corporation sets up its books: share capital, shareholder loan, bank records, GIFI codes and the first T2 dates.
Canada · Bookkeeping · Corporations
How a Canadian corporation that only holds rentals keeps its books and files the T2: rent at GIFI 8141, land and building, CCA, GST/HST and owner money.
Canada · Bookkeeping · Corporations
How Canadian owners record personal-card business costs, get repaid, handle GST/HST, and separate corporate and self-employed home office costs.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How to support Canadian business expenses without receipts: cash costs, lost receipts, card statements, GST/HST credits, T2125 and T2 claims, and CRA requests.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
Cash vs accrual accounting in Canada: who may use the cash method, how the rule applies to sole proprietors, partnerships and corporations, and how to switch.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How Canadian businesses rebuild overdue books, check missing receipts and tax balances, and prepare records for a T2125, partnership report or T2.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How to set up a chart of accounts that maps to GIFI codes on the T2 and to T2125 lines, which accounts stay separate, and what can change from year to year.
Canada · Bookkeeping · Self-employed · Corporations
What sets the fee for a compilation engagement for a small Canadian corporation, what reduces the work, and what a quote should spell out when you compare two.
Canada · Bookkeeping · Corporations
What a compilation engagement report is, how it replaced the Notice to Reader, who answers for the figures, and what a corporation gives its accountant.
Canada · Bookkeeping · Corporations
Is a compilation enough when a bank or franchisor wants reviewed statements? What a review adds, audit waivers, who may issue each in Ontario, what to prepare.
Canada · Bookkeeping · Corporations
Bookkeeping for a Canadian construction or renovation company: holdback accounting, subcontractor invoices and GST/HST, with Ontario, BC and Alberta rules.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
Clients paid your corporation's invoices into your personal account? How to book it, clear it before the CRA's one-year deadline, and report the GST/HST.
Canada · Bookkeeping · Corporations
What the CRA does when a Canadian corporation pays an owner's personal expenses, how to tell a benefit from a loan, and how to fix the books and GST/HST.
Canada · Bookkeeping · Corporations
Found an error in last year's financial statements? How a Canadian corporation decides to restate or correct this year, and how to change a filed T2.
Canada · Bookkeeping · Corporations
What a receipt must show for the CRA, whether to send receipts with your return, and what to record when a seller gives none or a till slip lacks detail.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How a Canadian business treats prepayments, deposits, gift cards and store credits at year-end: income when received, plus a reserve for what is still owed.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
Which year a December sale paid in January belongs to on a Canadian T2125: the accrual rule, T4A overlaps, marketplace payouts, GST/HST and fixing a filed year.
Canada · Bookkeeping · Self-employed
A buyer or investor takes control of a Canadian corporation: when its tax year ends, the extra T2, the books to cut off, unpaid bonuses and loss limits.
Canada · Bookkeeping · Corporations
When Canadian sole proprietors, partnerships and corporations can keep their own books, what records the CRA needs, and when to get help.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How to book realized and unrealized foreign exchange gains and losses on a business US-dollar account: the journal entries, the rate, and year-end revaluation.
Canada · Bookkeeping · Self-employed · Corporations
How a Canadian freelancer paid in US dollars converts income, sets up invoices and a USD account, records fees, and handles GST/HST and instalments.
Canada · Bookkeeping · Self-employed
A new Canadian general partnership: when it files a T5013, how partners report on a T2125, year-end, profit split, due dates, GST/HST and records.
Canada · Bookkeeping · Partnerships · Individuals · Self-employed
How a Canadian business records a government grant, subsidy or rebate: against the expense it paid for, against an asset's cost, or as other income.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
What a supplier's invoice or receipt must show to claim a GST/HST input tax credit, how to check the supplier's number, and what to do when a detail is missing.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
Why GST/HST line 101 total sales differs from your profit and loss, and how to list each difference and find which figure needs fixing before you file.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How long a sole proprietor, partnership or corporation keeps records for the CRA, when the clock starts, and what changes if you file late or close.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
What a corporation's brokerage account adds to the books and the T2: cost base per holding, income by type, Schedules 3, 6 and 7, and how to judge the fee.
Canada · Bookkeeping · Corporations
How a Canadian business supports and deducts foreign supplier and contractor invoices, and when GST/HST, provincial tax or CRA withholding applies.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How a Canadian corporation books meals and entertainment, keeps limited and unlimited costs apart, and adds back the non-deductible part on the T2.
Canada · Bookkeeping · Corporations
Parents abroad sent money for your Canadian business? How to book it as a gift, loan or shares, what withholding applies, and what records to keep.
Canada · Bookkeeping · Self-employed · Corporations
How a Canadian corporation with zero income files a nil T2 and gets the balance sheet to balance with share capital, a shareholder balance and fees.
Canada · Bookkeeping · Corporations
What books a Canadian non-profit or registered charity keeps, which return it files (T1044, T3010 or T2), when each is due, and what a late return costs.
Canada · Bookkeeping · Corporations
How to book a Canadian pay run: gross pay, CPP, EI and tax withheld, the employer share, the CRA remittance, and how to tie it to the CRA account and T4s.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How a real estate agent's corporation keeps books, handles GST/HST, pays the owner and files its first T2 in Ontario, BC or Alberta.
Canada · Bookkeeping · Self-employed · Corporations
How Canadian corporation owners can document dividend income for a mortgage, get CRA income records, and handle a new company or recent salary switch.
Canada · Bookkeeping · Corporations · Self-employed
Does a Canadian business need QuickBooks multicurrency for a USD account? What the one-way switch locks, and why a zero USD account keeps a CAD balance.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How QuickBooks Online, Xero and Wave compare for a small Canadian business on GST/HST, PST and QST, bank feeds, cost, exports and CRA record rules.
Canada · Bookkeeping · Self-employed · Corporations
How to rebuild unfiled years of business income, expenses and GST/HST from bank statements and e-transfers, and whether you file a T2125 or a T2.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How to rebuild past years' PayPal and US-dollar income for unfiled Canadian returns: records, Bank of Canada rates, fees, GST/HST and proof of income.
Canada · Bookkeeping · Individuals · Self-employed
Why your GST/HST payable differs from the CRA's balance, and how to record a refund, an offset, instalments and interest, then find what is left over.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How to book a business vehicle bought with a down payment, loan or trade-in, or a personal car moved into the business, and the limits the CRA sets.
Canada · Bookkeeping · Self-employed · Corporations
How to record CRA corporate tax instalments (installments) in the books: each payment, year-end tax payable, the balance due, refunds and interest.
Canada · Bookkeeping · Corporations
How to book a CRA GST/HST reassessment: split the notice into tax, interest and penalty, keep interest and penalties non-deductible, and record payments.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
Journal entries for a dividend your Canadian corporation declares and pays you: declared, payable, paid or credited to your account, GIFI codes and the T5.
Canada · Bookkeeping · Corporations
How a GST/HST registrant sets up collected, ITC, suspense and net-payable accounts, and posts sales, purchases, credit notes and the return.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
Which T776 line each rental cost goes on: condo fees, mortgage interest, repairs, property tax, insurance and fees, plus a spreadsheet layout.
Canada · Bookkeeping · Individuals
When scanned or photographed receipts can replace paper under CRA rules, what an imaging program requires, and how to store digital records for the retention period.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
Which T2125 line each business expense goes on, whether blank lines cost you anything, and where equipment, a car, a home office and missed costs go.
Canada · Bookkeeping · Self-employed · Partnerships
Set up books for a new Canadian sole proprietorship or corporation: what to keep, year-end, GST/HST registration, receipts and owner money for the T2125 or T2.
Canada · Bookkeeping · Self-employed · Corporations
What "due to shareholder" means, which way a Canadian corporation's shareholder loan account should run, and how to record what you put in and take out.
Canada · Bookkeeping · Corporations
How to fill in cost of goods sold on the T2125: opening and closing inventory, purchases, direct wages, how to value stock, and how to track it in your books.
Canada · Bookkeeping · Self-employed · Partnerships
A Canadian sole proprietor cannot deduct a salary. How owner's drawings work, how to record them, and what Part 9 of the T2125 asks.
Canada · Bookkeeping · Self-employed
Whether costs paid before your first sale or before incorporating are deductible in Canada, when the business starts, and how to record them.
Canada · Bookkeeping · Self-employed · Corporations
How a Canadian business converts from Sage 50: the cutoff date, opening balances that tie to the last T2 or T2125, GST/HST history and records to keep.
Canada · Bookkeeping · Self-employed · Corporations
How to match business e-Transfers to invoices, take out the GST/HST, and keep the records the CRA expects, for self-employed people and corporations.
Canada · Bookkeeping · Self-employed · Corporations
How to book a transfer between your own CAD and USD business accounts: the entry, the exchange rate, the bank's spread and fees, and when a gain or loss shows.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
How Canadian sellers record US-dollar sales, marketplace fees, refunds, held funds and exchange differences, then report them on a T2125 or T2.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
What cost goes in your Canadian books when you buy stock in US dollars: landed cost, which exchange rate and date, border GST and year-end value.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
No vehicle logbook and the CRA is questioning car expenses: why the three-month sample needs a base year, what a rebuilt log can show, and how to start one.
Canada · Bookkeeping · Self-employed · Corporations
Is Wave free, and is it enough? What any app must do for CRA records, GST/HST, BC, Manitoba, Saskatchewan and Quebec sales tax, payroll and a T2 or T2125.
Canada · Bookkeeping · Self-employed · Corporations
What a bookkeeper and an accountant should each do for a Canadian corporation every month and every year: reconciliations, GST/HST, payroll, loans, T2.
Canada · Bookkeeping · Corporations
What a Canadian sole proprietor gives an accountant for the T2125: income and expense records, mixed-use splits, car, home office, GST/HST and CRA access.
Canada · Bookkeeping · Self-employed
How to write off an unpaid customer invoice in Canada: bad debt versus doubtful debt, the reserve, and getting the GST/HST back on line 107.
Canada · Bookkeeping · Self-employed · Partnerships · Corporations
What a Canadian corporation reconciles and cleans up after its fiscal year-end: T2 dates, shareholder loan, payroll, GST/HST, dividends, bonuses and assets.
Canada · Bookkeeping · Corporations
What a small Canadian corporation needs for its T2: statements, GIFI codes, accountant reports, audit waivers, first-year rules and record retention.
Canada · Bookkeeping · Corporations
Do you need an accountant every month? What a small Canadian corporation must file during the year, what year-end-only work needs, and middle options.
Canada · Bookkeeping · Corporations
How a Canadian Amazon seller compares a sole proprietorship and a corporation on tax returns, liability, GST/HST, provincial rules, US forms and books.
Canada · Business structure · Self-employed · Corporations
How a Canadian holding company receives dividends, how corporate investments affect the small business limit, and when a rental needs separate review.
Canada · Business structure · Corporations
How Canadian sole proprietors and partners transfer business assets to a corporation, use a section 85 election, and handle receivables, GST/HST and filings.
Canada · Business structure · Self-employed · Partnerships · Corporations
How to move Canadian rental property into your own corporation: the section 85 election, land and building amounts, Form T2057, transfer tax and GST/HST.
Canada · Business structure · Individuals · Corporations
How two Canadian business owners choose between separate sole proprietorships, a partnership and a corporation, and report their income.
Canada · Business structure · Self-employed · Partnerships · Corporations
When Canadian doctors, dentists, lawyers, realtors and other licensed professionals can incorporate, who may own shares, and what changes for liability and tax.
Canada · Business structure · Self-employed · Corporations
How a Canadian corporation is taxed on rent, what comes back when you take the money out, what it costs, and when owning rentals personally is simpler.
Canada · Business structure · Individuals · Corporations
Compare a Canadian sole proprietorship with a corporation, including tax deferral, costs, losses, liability, and the factors behind the income decision.
Canada · Business structure · Self-employed · Corporations
Can a Canadian sole proprietor or corporation add a second business? Compare names, GST/HST accounts, tax returns, shared limits, and later transfers.
Canada · Business structure · Self-employed · Corporations
What an accountant charges for a self-employed return in Canada is not set by the CRA. See what drives the fee for a T2125 and what to bring.
Canada · Business tax · Self-employed
What to do when your accountant missed T2, GST/HST or payroll filings and went silent: see what the CRA has, get records back, file late, seek relief, complain.
Canada · Business tax · Self-employed · Partnerships · Corporations
How a Canadian corporation adds or buys out an owner, when share transfers create gains or dividends, and when control changes its tax filings.
Canada · Business tax · Corporations · Partnerships
When a Canadian business loss can reduce other income, how individuals and corporations carry unused losses, and what proof the CRA may ask for.
Canada · Business tax · Self-employed · Partnerships · Corporations
How a Canadian corporation catches up on missing T2, GST/HST and payroll filings, including CRA demands, frozen accounts, records and director risk.
Canada · Business tax · Corporations
How a Canadian corporation chooses its first tax year-end, when CRA approval is needed to change it, and what a short year does to T2 and GST/HST periods.
Canada · Business tax · Corporations
What drives an accountant's fee for a small corporation's T2, what a quote should cover, what is billed separately, and how to compare quotes line by line.
Canada · Business tax · Corporations
How the CRA's digital platform reporting rules work for sellers, hosts and drivers: what is reported, who is excluded, and what to fix now.
Canada · Business tax · Individuals · Self-employed
How a business asks the CRA for a payment plan on corporate tax, GST/HST or payroll debt, what it must show, how interest runs and what a legal warning means.
Canada · Business tax · Self-employed · Partnerships · Corporations
A Canadian corporation with no income still files a T2 every year. The late penalty when nothing is owing, how many years to file, and file-or-dissolve.
Canada · Business tax · Corporations
Report a T4A with fees for services (box 048) on your T2125, and see why it differs from your invoices: HST, timing, no slip, an agency's cut or a wrong slip.
Canada · Business tax · Individuals · Self-employed
A client sent a T4A in your name for work your corporation did. See whose income it is, which return reports it, and how to get the slip corrected.
Canada · Business tax · Individuals · Corporations
How to prepare and file a Canadian corporation's T2 return, including deadlines, electronic filing, GIFI, nil returns, and provincial filings.
Canada · Business tax · Corporations
How a Canadian corporation reports foreign exchange gains and losses on the T2: income or capital, unrealized gains, Schedules 1 and 6, and a USD election.
Canada · Business tax · Corporations
When Canadian residents, businesses and partnerships must file T1135, T1134, T1141, T1142 or T106, what triggers each form, due dates and penalties.
Canada · Business tax · Individuals · Self-employed · Partnerships · Corporations
See how Canadian corporate tax rates depend on CCPC status, active or investment income, province, and dividends paid to owners.
Canada · Business tax · Corporations
How many years the CRA can reassess a business: three or four for income tax, four for GST/HST, and what reopens a statute-barred year.
Canada · Business tax · Self-employed · Partnerships · Corporations
How Canadian sole proprietors report profit, pay CPP or QPP, plan for income tax and instalments, and handle platform income and T4A slips.
Canada · Business tax · Self-employed
How Canadian cooling, power and chip startups report IRAP and government grants, reduce expenses or equipment costs, and reconcile funding for SR&ED.
Canada · Business tax · Corporations
When interest on a HELOC you lend to your own corporation is deductible in Canada, with or without interest charged, and where to claim it on your return.
Canada · Business tax · Individuals · Corporations
Can a Canadian founder use the lifetime capital gains exemption on a venture-backed startup sale? Share tests, raised cash, CCPC status and the claim.
Canada · Business tax · Individuals
When US funds end a Canadian startup's CCPC status: why the tax year ends early, what it costs, and when founders crystallize the capital gains exemption.
Canada · Business tax · Corporations · Individuals
Can an operating company deduct management fees paid to its holding company? The two tests, how the holdco is taxed, GST/HST, and what CRA can do.
Canada · Business tax · Corporations
Find out when work in another province changes corporate income tax, registration and payroll, and why incorporation location alone does not decide tax.
Canada · Business tax · Corporations · Self-employed · Partnerships
When Canada taxes profit and dividends from a company you own abroad, how foreign-affiliate rules and T1134 may apply, and what changes for family ownership.
Canada · Business tax · Individuals · Corporations
How CRA penalties and interest work for personal tax, corporate tax, GST/HST and payroll, and when you can ask to have charges cancelled.
Canada · Business tax · Individuals · Self-employed · Partnerships · Corporations
Learn when a Canadian contractor corporation is a personal services business, how the CRA tests the relationship, and what tax and deductions apply.
Canada · Business tax · Corporations
What a Quebec corporation files at year-end beyond the T2 (CO-17, GST/QST, RL-1), what a quote should list, and where a simple return goes wrong.
Canada · Business tax · Self-employed · Corporations
How to respond to a CRA review or audit letter, gather records, meet deadlines, dispute changes, and assess voluntary disclosure after contact.
Canada · Business tax · Individuals · Self-employed · Partnerships · Corporations
Is SAFE money taxable to a Canadian corporation, is a SAFE debt or equity for the CRA, and how SAFEs, fees and conversion show on the T2 and GIFI.
Canada · Business tax · Corporations
How the CRA treats online sales in Canada: personal sale, capital gain or business income, what to report, GST/HST, platform reporting and unreported years.
Canada · Business tax · Individuals · Self-employed
Compare tax on a Canadian corporation's share sale and asset sale, including the capital gains exemption, asset allocation, GST/HST and deferred payments.
Canada · Business tax · Corporations · Individuals
How the CRA assesses a shareholder benefit when an audit finds personal costs in a corporation: who is taxed, penalties, the 30-day reply, objections, and the books.
Canada · Business tax · Corporations
How taxable capital after a large round shrinks a CCPC's SR&ED expenditure limit and small business deduction, which year is hit, and the T2 schedules.
Canada · Business tax · Corporations
How a Canadian business changes accountants, transfers tax records, updates CRA access, and checks open filings, balances, and remittances.
Canada · Business tax · Self-employed · Partnerships · Corporations
Why a corporation's financial statement profit differs from its T2 income, and how Schedule 1 handles amortization, CCA, meals and equipment sales.
Canada · Business tax · Corporations
How the CRA picks a small business or corporation for audit, the signs of unreported income it checks, and the records that answer an auditor's questions.
Canada · Business tax · Self-employed · Partnerships · Corporations
How a Canadian private corporation owner's shares are taxed at death, what the estate and corporation file, and when an estate loss may reduce double tax.
Canada · Business tax · Corporations · Individuals
See which income, sales tax, payroll and information returns Canadian sole proprietors, partnerships and corporations file, including years with no sales.
Canada · Business tax · Self-employed · Partnerships · Corporations
A practical order for winding up a solvent Canadian corporation, distributing cash or property, filing final returns and closing tax accounts.
Canada · Compliance and closing · Corporations
How to check a dissolved corporation's status, decide whether to revive it, recover property or a CRA refund, and address missing tax returns.
Canada · Compliance and closing · Corporations
What Series A investors check in a Canadian startup's tax filings: T2s, GST/HST, payroll, SR&ED, CCPC status, options and non-resident payments, and what to fix first.
Canada · Compliance and closing · Corporations
Is it tax deductible in Canada? Which business costs the CRA accepts and how much: meals, client gifts, sponsorships, courses, club dues and loan interest.
Canada · Deductions and credits · Self-employed · Partnerships · Corporations
How self-employed people in Canada claim a home office on T2125 line 9945: the two tests, which costs count, the area and hours split, and the loss limit.
Canada · Deductions and credits · Self-employed · Partnerships
Compare a company car with personal ownership, including Canadian deductions, taxable benefits, kilometre allowances and GST/HST.
Canada · Deductions and credits · Corporations · Self-employed
Does a year-end equipment or vehicle purchase cut this year's Canadian tax? How the half-year rule, available-for-use test and incentives set first-year CCA.
Canada · Deductions and credits · Self-employed · Corporations
How Canadian businesses and landlords claim CCA on equipment, vehicles and buildings, including first-year deductions and sale rules.
Canada · Deductions and credits · Individuals · Self-employed · Partnerships · Corporations
SR&ED for a Canadian software startup: what work qualifies, the refundable CCPC credit, filing T661 and Schedule 31 yourself, the deadline and refund timing.
Canada · Deductions and credits · Corporations
What a CRA vehicle logbook must show, when a three-month sample can replace a full year, and what supports a claim that all your driving is business.
Canada · Deductions and credits · Self-employed · Partnerships · Corporations
Can you write off a laptop, phone or tool in Canada? Expense or CCA, the first-year claim, and gear you owned before the business.
Canada · Deductions and credits · Self-employed · Corporations
Incorporation expenses a new Canadian corporation can deduct: the shared limit, the lawyer's invoice above it, costs paid before it existed, and the T2 line.
Canada · Deductions and credits · Corporations
What a Canadian influencer, streamer or subscription creator can write off: clothes, beauty, props, gear, how free products are taxed and records to keep.
Canada · Deductions and credits · Self-employed · Corporations
When interest on a HELOC, margin loan or refinanced mortgage used to invest or buy a rental is deductible in Canada, how to trace it, and where to claim it.
Canada · Deductions and credits · Individuals
Heat pump, roof, appliance or renovation on a Canadian rental: how the CRA sorts current from capital, what CCA does, and how to fix past returns.
Canada · Deductions and credits · Individuals
What a Canadian ride-share or delivery driver can claim for the car on Form T2125, why gas and kilometres are not two deductions, and which records to keep.
Canada · Deductions and credits · Self-employed
What happens to your CCA class when you sell a business laptop, tools or truck: sale price, recapture, terminal loss and capital gain.
Canada · Deductions and credits · Self-employed · Corporations
Should you claim CCA on a Canadian rental (Form T776)? What you can claim, the rental-loss limit, recapture on a sale, and the effect on your home exemption.
Canada · Deductions and credits · Individuals
How much of an electric car a Canadian corporation or self-employed owner can write off in year one under Class 54, the cost limit, the opt-out and the traps.
Canada · Deductions and credits · Self-employed · Corporations
CCA classes for GPU servers, switches and cooling gear, when a Canadian corporation can deduct full cost in year one, and how leasing or a new owner cuts it.
Canada · Deductions and credits · Corporations
How a non-resident individual handles Canadian rental withholding, Form NR6, a section 216 return, rental expenses, refunds and missed years.
Canada · Foreign owners · Individuals
A Canadian corporation with an owner abroad never filed a T2 or GST/HST return: what to file, what waiting costs, and whether voluntary disclosure is open.
Canada · Foreign owners · Corporations
When an owner moves abroad, how to test a Canadian corporation's residence and CCPC status, withhold on dividends, and report payments to the owner.
Canada · Foreign owners · Corporations
What non-resident individual sellers file with the CRA, how the buyer's holdback differs from certificate payment, and how to recover excess tax.
Canada · Foreign owners · Individuals
Should a Canadian corporation bonus profit above the small business limit? What shrinks it, the 180-day rule, payroll costs, RRSP room, bonus vs dividend.
Canada · Owner pay and payroll · Corporations · Individuals
Can your corporation pay a bonus straight into your RRSP with no income tax withheld? The room limit, CPP and EI, T4 reporting, payroll and Quebec.
Canada · Owner pay and payroll · Corporations · Individuals
How the CRA decides if a worker is an employee (T4) or a self-employed contractor (T4A), how provinces differ, and what a wrong call costs the payer.
Canada · Owner pay and payroll · Self-employed · Partnerships · Corporations
How a Canadian corporation declares and pays an owner dividend, records monthly payments, and files the owner's T5 and Quebec RL-3 slips.
Canada · Owner pay and payroll · Corporations
When a Canadian corporation's dividend goes on your T5 and personal return, and what declaring or paying it after year-end changes.
Canada · Owner pay and payroll · Corporations
Can a Canadian corporation pay a dividend with a deficit? The solvency and stated capital tests, director liability, and when money out is a loan or benefit.
Canada · Owner pay and payroll · Individuals · Corporations
Left a job to contract through a Canadian corporation? Plan salary, dividends, tax reserves and instalments before your first personal tax bill.
Canada · Owner pay and payroll · Corporations
Do dividends count for SR&ED? How a founder's salary enters the claim, the specified employee caps, bonuses, the 180-day rule and the time records to keep.
Canada · Owner pay and payroll · Corporations · Individuals
Can a Canadian corporation buy a home for its owner or family? Learn how shareholder benefits, deductions, transfer taxes and a later sale work.
Canada · Owner pay and payroll · Corporations
The tax-free dividend amount for a Canadian corporation owner depends on dividend type, province, salary, and family-shareholder rules.
Canada · Owner pay and payroll · Corporations · Individuals
Choose how much to withdraw from a Canadian corporation, when to leave profits inside, and how personal brackets and passive income change the answer.
Canada · Owner pay and payroll · Corporations
What the CRA charges when a small corporation files T4 or T5 slips late or never issues them, how to file now, and how to ask for the penalty to be cancelled.
Canada · Owner pay and payroll · Corporations
What the CRA charges when a payroll remittance is late or missed, how interest builds, how to get current, and when relief or director liability applies.
Canada · Owner pay and payroll · Self-employed · Partnerships · Corporations
How a corporation with one owner opens a CRA payroll account, withholds tax and CPP from the owner's salary, treats EI, remits and files the T4.
Canada · Owner pay and payroll · Corporations
When a Canadian business can deduct family wages, how payroll applies, and when tax on split income affects dividends to a spouse or child.
Canada · Owner pay and payroll · Self-employed · Partnerships · Corporations
Can a Canadian corporation backdate salary for money an owner already took out? Payroll account, T4 year, 180-day rule and penalties explained.
Canada · Owner pay and payroll · Corporations
What Canadian employers should do when the CRA examines payroll, reclassifies a contractor, or sends a PIER or PD4R notice, including liability and appeals.
Canada · Owner pay and payroll · Self-employed · Partnerships · Corporations
When Canadian businesses report freelancer and subcontractor payments on T4A, T5018 or T4A-NR slips, and how to catch up on missed returns.
Canada · Owner pay and payroll · Self-employed · Partnerships · Corporations
Taking cash from your Canadian corporation for a first home: dividend, salary, shareholder loan or repayment, with the tax, RRSP room, HBP and FHSA.
Canada · Owner pay and payroll · Individuals · Corporations
How Canadian employers classify workers, calculate payroll deductions, remit to the CRA, file T4s, and handle Quebec and provincial rules.
Canada · Owner pay and payroll · Self-employed · Partnerships · Corporations
Find the salary a Canadian corporate owner needs for maximum new RRSP room or CPP, the employer cost, and the timing and Quebec rules.
Canada · Owner pay and payroll · Corporations
Salary or dividends from a Canadian corporation: total tax, CPP, RRSP room and instalments for owners, with a BC worked example.
Canada · Owner pay and payroll · Corporations
Must you charge interest on a loan from your Canadian corporation? The prescribed rate, the tax benefit on a no-interest or 10-day loan, and the 30-day rule.
Canada · Owner pay and payroll · Individuals · Corporations
Find out when money taken from a Canadian corporation is a taxable shareholder loan, how the one-year rule works, and how to clear the balance.
Canada · Owner pay and payroll · Corporations
Unequal dividends between co-owners of a Canadian corporation: how salary or separate share classes let amounts differ, and the loan and split-income traps.
Canada · Owner pay and payroll · Individuals · Corporations
Estimate personal tax on dividends from your Canadian corporation by province, and choose a sensible amount to set aside from each payment.
Canada · Owner pay and payroll · Corporations · Individuals
How to sell, assign or cash out what your Canadian corporation owes you when you sell your shares: repayment, price split, tax and Quebec.
Canada · Owner pay and payroll · Individuals · Corporations
Canada's 1099 and W-2: T4 for employees, T4A box 048 for contractors, plus commissions, T5018, T4A-NR, Quebec RL-1 and due dates.
Canada · Owner pay and payroll · Self-employed · Partnerships · Corporations
What a rental property adds to a Canadian personal return, what makes an accountant's fee rise, whether the fee is deductible, and what to gather first.
Canada · Personal tax · Individuals
How a Canadian short-term rental host chooses between T776 and T2125: the services test, licence rules that deny deductions, platform reporting and GST/HST.
Canada · Personal tax · Individuals · Self-employed
How Canadian tax residence works when your home, family, work or time spans countries, including the 183-day rule and treaty tie-breakers.
Canada · Personal tax · Individuals
How to file missed Canadian personal tax returns, find old slips, handle CRA demands, and check whether refunds, benefits or GST/HST returns are at stake.
Canada · Personal tax · Individuals · Self-employed
How to find and check a CPA or tax preparer in Canada for personal, self-employed or corporate taxes: who does what, what to ask, fee drivers, red flags.
Canada · Personal tax · Individuals · Self-employed · Corporations
How co-owners of a Canadian rental report on T776: whole-property rent, each owner's share of net income, mortgage interest, title-only names and partnerships.
Canada · Personal tax · Individuals
Learn what to report on your first Canadian return after moving: arrival date, foreign income and property, credits, benefits, and filing.
Canada · Personal tax · Individuals
How Canadian residents report foreign wages, investments and pensions, convert currencies, and claim foreign tax credits without assuming every tax is recoverable.
Canada · Personal tax · Individuals · Self-employed
Does US-dollar cash, a US-listed ETF, US stock at a Canadian broker or employer stock count on Form T1135, and what goes in each column?
Canada · Personal tax · Individuals
What Canadian residents should send when the CRA reviews or denies a foreign tax credit, including US tax proof, translations and objection deadlines.
Canada · Personal tax · Individuals · Self-employed
How the gain is taxed when you sell a former home you rented out, with or without a section 45(2) election, and how to fix a missed or late election.
Canada · Personal tax · Individuals
How Canadian tax residency ends, which assets face departure tax, what forms and returns emigrants file, and how Canadian income is taxed afterward.
Canada · Personal tax · Individuals
Living abroad with Canadian income? When a non-resident files a return, which package fits, T4A vs T4A-NR, NR7-R refunds and catching up on missed years.
Canada · Personal tax · Individuals · Self-employed
When a non-resident with Canadian pension or RRSP income can elect under section 217, claim withheld tax, and file a separate OAS return.
Canada · Personal tax · Individuals
Why dividends from your Canadian corporation can leave a large personal tax bill, and what to do if you cannot pay the CRA by April 30.
Canada · Personal tax · Individuals · Corporations
When a Canadian home, condo or cottage sale qualifies for the principal residence exemption, how to choose designation years and report the sale.
Canada · Personal tax · Individuals
When a Canadian home sale or presale assignment is business income, how the federal flipping rule works, and when BC adds a separate tax.
Canada · Personal tax · Individuals · Self-employed
Learn how a Canadian resident reports rent or a sale of property abroad, converts amounts to Canadian dollars, and claims relief for foreign tax.
Canada · Personal tax · Individuals
Moved provinces, or live in one and work in another? Which province taxes your income, how to fix tax withheld for the wrong province, and Québec rules.
Canada · Personal tax · Individuals
Where Canadian residents report pay from employers or clients abroad, when foreign tax can be credited, and how payroll, CPP, EI and instalments apply.
Canada · Personal tax · Individuals · Self-employed
How Canadian residents report rental income, deduct property costs, split shared-home expenses and co-owned rent, and handle losses and short-term stays.
Canada · Personal tax · Individuals
Will a rental loss draw a CRA review? Which losses are denied, what the CRA asks for, how long to keep records, and what to do when a letter arrives.
Canada · Personal tax · Individuals
How to split house costs on the T776 when you rent a basement suite or rooms, and the three CRA conditions for keeping your principal residence status.
Canada · Personal tax · Individuals
How the monthly tax on RRSP over-contributions is calculated, when to file a T1-OVP or T1-OVP-S, and how to withdraw the excess or ask the CRA to waive it.
Canada · Personal tax · Individuals
For Canadian residents selling a rental property: calculate the gain, building CCA recapture or terminal loss, land allocation, reserves and return forms.
Canada · Personal tax · Individuals
Canadian farmland sales and leases: capital gains, farm exemption tests, minimum tax, GST/HST, replacement property and a US citizen co-owner.
Canada · Personal tax · Individuals · Partnerships
When a CRA instalment reminder requires payment, how to choose an amount, and what to do after missing September 15, including Quebec rules.
Canada · Personal tax · Individuals · Self-employed · Corporations
What an executor files when a parent dies owning a home or rental in Canada, who reports the gains and rent, and when to request tax clearance.
Canada · Personal tax · Individuals
How to calculate TFSA excess and non-resident contribution tax, correct the account, file Form RC243, and request CRA relief or object.
Canada · Personal tax · Individuals
Canadian tax rules when you gift a home or rental to a child or spouse, sell below market value, or add a family member to the title.
Canada · Personal tax · Individuals
Canadian tax rules when you rent out your home or move into a rental: deemed sales, principal residence elections, CCA, reporting, and records.
Canada · Personal tax · Individuals
How individuals and self-employed people can correct unreported income or foreign property on a filed Canadian return, including CRA voluntary disclosure.
Canada · Personal tax · Individuals · Self-employed
Learn when you can file your own Canadian personal tax return, when professional judgment helps, and what to prepare if you use an accountant.
Canada · Personal tax · Individuals · Self-employed
Which services BC charges PST on, the paused accounting, bookkeeping and security expansion, who must register, and how PST and GST share an invoice.
Canada · Sales tax · Self-employed · Partnerships · Corporations
You charged GST/HST before you had a number. When to refund customers with credit notes, when to register and remit, and what a registrant client needs.
Canada · Sales tax · Self-employed · Partnerships · Corporations
How a Canadian business corrects an out-of-province GST/HST invoice, refunds excess tax, collects a shortfall, and adjusts filed returns.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Which GST/HST rate goes on an invoice to a client in another province, how goods, services and software differ, and when PST, RST or QST is added.
Canada · Sales tax · Self-employed · Partnerships · Corporations
When a Canadian business charges GST/HST on goods or services sold to US customers, what proves an export, and when input tax credits still apply.
Canada · Sales tax · Corporations · Self-employed
Which GST/HST you paid before registering can go on your first return: equipment and inventory on hand, later services, prepaid rent, and the proof to keep.
Canada · Sales tax · Self-employed · Partnerships · Corporations
How to cancel your GST/HST registration when you close or stop freelancing: the cancellation date, the final return, and the tax on stock and equipment you keep.
Canada · Sales tax · Self-employed · Partnerships · Corporations
How to fix a filed GST/HST return: adjust it for missed sales or over-claimed ITCs, put a forgotten ITC on the next return, and what interest follows.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Why a Canadian business can charge no GST/HST on US sales, what proves a customer is a non-resident, and what to send, file or fix when the CRA asks.
Canada · Sales tax · Self-employed · Corporations
Find out when Québec clients or a remote worker trigger QST, Québec payroll deductions, or enterprise registration for an out-of-province business.
Canada · Sales tax · Self-employed · Partnerships · Corporations
How GST/HST treats taxable, zero-rated, exempt and out-of-scope sales and purchases, which tax code to use, and what each does to input tax credits.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Which business costs give no GST/HST input tax credit, or only part: meals, tips, insurance, bank fees, club dues and HST charged at the wrong rate.
Canada · Sales tax · Self-employed · Partnerships · Corporations
How Canadian businesses file GST/HST returns, report sales and tax, support input tax credits, and meet filing and payment deadlines.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Must a holding company charge GST/HST on management fees or rent to its operating company, and which companies can file the section 156 election?
Canada · Sales tax · Corporations
Which medical clinic services are GST/HST exempt, whether an exempt-only clinic registers, and how to split input tax credits on shared costs and equipment.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Do Canadian short-term rental hosts charge GST/HST? Stay-length and nightly-price rules, the registration limit, platform collection, credits and tax on a sale.
Canada · Sales tax · Individuals · Self-employed · Partnerships · Corporations
Selling commercial property in Canada is generally taxable; registered buyers usually self-assess instead of paying at closing. Plus rent, mixed-use and missed GST/HST.
Canada · Sales tax · Individuals · Partnerships · Corporations
When GST/HST is owed on an unpaid invoice, a deposit or a gift certificate, how refunds and credit notes adjust it, and when a bad debt lets you deduct the tax.
Canada · Sales tax · Self-employed · Partnerships · Corporations
GST/HST on the whole invoice or only your fee when you rebill ad spend, travel, meals or a per diem? The agent test, proof to keep and the meal credit limit.
Canada · Sales tax · Self-employed · Partnerships · Corporations
When Canadian home buyers, landlords and sellers pay GST/HST, qualify for housing rebates, or must account for tax on an assignment or rental property.
Canada · Sales tax · Individuals · Corporations
When a sale to a First Nations band or a customer with Indian status is relieved of GST/HST, what proof to keep, the Ontario credit, and how to report it.
Canada · Sales tax · Self-employed · Partnerships · Corporations
When a registrant charges GST/HST on a used truck, machine or computer or on secondhand stock, who charges on consignments and trade-ins, and BC PST on used buys.
Canada · Sales tax · Self-employed · Partnerships · Corporations
GST/HST Quick Method rates by province for services and goods, who can use it, how to elect, and how to tell whether it beats the regular method.
Canada · Sales tax · Self-employed · Partnerships · Corporations
How your GST/HST reporting period and fiscal year-end set your filing dates, which period an invoice belongs to, and how to change either one.
Canada · Sales tax · Self-employed · Partnerships · Corporations
What to send when the CRA reviews a GST/HST refund, input tax credits or rental rebate, and how return reviews differ from audits.
Canada · Sales tax · Individuals · Self-employed · Partnerships · Corporations
Who charges and remits GST/HST when a clinic or studio collects a client's payment for contractors: who the supplier is, the small-supplier limit, Form GST506.
Canada · Sales tax · Self-employed · Partnerships · Corporations
How a Canadian business splits duty, GST and broker fees on a customs invoice, proves the GST paid at the border and claims it as an input tax credit.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Why a non-resident ad platform charges GST/HST, when giving your GST/HST number avoids it, and what to do about tax already charged on ad invoices.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Is collected GST/HST income? Not for a registrant: T2125 line 8000 excludes it. Covers expenses, equipment, the Quick Method, non-registrants and the T2.
Canada · Sales tax · Self-employed · Corporations
What the CRA charges when a GST/HST return is filed late, how the penalty and interest are worked out, and when they can be cancelled or waived.
Canada · Sales tax · Self-employed · Partnerships · Corporations
A marketplace collected GST/HST on your sales: are you registered, what you still report, credits on platform fees, and how to book payouts to match.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Missed nil GST/HST or PST returns: when the late-filing penalty applies, what a demand or held refund costs, and how to catch up or close the account.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Canada has no GST/HST resale certificate. What to charge a reseller, how the buyer claims it back, and the PST resale numbers in BC, Saskatchewan and Manitoba.
Canada · Sales tax · Self-employed · Partnerships · Corporations
A foreign business registers for GST/HST on the CRA's non-resident online form, normal or simplified, or on Form RC1 (normal only). Which applies, and when.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Find out when a Canadian business must register for provincial sales tax in BC, Saskatchewan or Manitoba, and when QST or HST applies instead.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Record Quick Method sales, expenses and the remittance, and see where the GST/HST you keep and the Quick Method credit go on the T2125 or a corporate return.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Registered for GST/HST but never charged it on sales or older contracts? What you owe the CRA, whether you can bill clients now, and how to fix the returns.
Canada · Sales tax · Self-employed · Partnerships · Corporations
What a Canadian ride-share or delivery driver may owe in GST/HST after never registering, which years count, and how to register, file and pay.
Canada · Sales tax · Self-employed
How a Canadian Shopify store sets sales tax (GST/HST) by delivery province, taxes shipping and exempt orders, and matches payouts to the return.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Your price already includes GST/HST. Find the tax inside each sale by rate, record it, handle mixed totals and BC PST, and report it on the right lines.
Canada · Sales tax · Self-employed · Partnerships · Corporations
How to file GST/HST returns the CRA has already estimated, replace the estimate, and what penalties, interest, credits and relief apply to the missed periods.
Canada · Sales tax · Self-employed · Partnerships · Corporations
When Canadian businesses must register for GST/HST, which sales count, when to start charging, and how to correct a missed registration.
Canada · Sales tax · Self-employed · Partnerships · Corporations
Which CRA business number, corporate tax, GST/HST and payroll accounts a new Canadian corporation needs, and how to correct registration or access errors.
Canada · Starting a business · Corporations
Compare shares, assets and partnership interests when buying a Canadian business, then check the price allocation, GST/HST election and CRA accounts.
Canada · Starting a business · Self-employed · Partnerships · Corporations
Can a newcomer or non-resident incorporate in Canada, serve as sole director, and claim the small business rate? Federal, Ontario, and BC rules explained.
Canada · Starting a business · Corporations · Self-employed
Keep separate Canadian and US company books, record customer payments collected by the other company, and reconcile intercompany balances across currencies.
Canada and the US · Bookkeeping · Corporations
How a Canadian resident keeps a US LLC's books once for both countries: owner ledger, payouts, currency, and the records Form 5472 and the T1134 draw on.
Canada and the US · Bookkeeping · Individuals · Self-employed · Corporations
A shared language is not a credential. How to check a US or Canadian CPA, preparer and bookkeeper, and what to ask when your books touch China.
Canada and the US · Bookkeeping · Individuals · Self-employed · Partnerships · Corporations
Paid in a foreign currency? Which amount to book (receipt, card statement or converted rate), which day's rate, and which rate source the IRS and CRA accept.
Canada and the US · Bookkeeping · Self-employed · Partnerships · Corporations
How a Canadian corporation invoices, banks and books US-dollar payments from US clients, and how they add up to Canadian-dollar revenue on the T2.
Canada and the US · Bookkeeping · Corporations
Hiring a bookkeeper abroad for a US or Canadian business: where records must sit, access and data checks, who answers to the IRS or CRA, and when to stay local.
Canada and the US · Bookkeeping · Self-employed · Partnerships · Corporations
After a Delaware flip, how a Canadian subsidiary's ASPE books feed consolidated US GAAP statements: differences, currency, eliminations, T2 and Form 5471.
Canada and the US · Bookkeeping · Corporations
One QuickBooks file or two, and which home currency? A rule for self-employed people, partnerships and corporations working in Canada and the US.
Canada and the US · Bookkeeping · Self-employed · Partnerships · Corporations
How a US citizen who owns a Canadian corporation turns its CAD books into Form 5471 Schedules C, F, H, J and M: GAAP, functional currency, exchange rates, E&P.
Canada and the US · Bookkeeping · Individuals · Corporations
Track Stripe, Wise and other multi-currency balances: one account per currency, a payout clearing account, Canada and US rates, FBAR and T1135.
Canada and the US · Bookkeeping · Self-employed · Partnerships · Corporations
Buying a Canadian business as a US citizen or company: compare buyers, shares and assets, funding, treaty withholding and US reporting before signing.
Canada and the US · Business structure · Individuals · Corporations
Buying a US business from Canada: compare assets, shares and LLC interests, choose the buyer, and check funding and filings before signing the deal.
Canada and the US · Business structure · Individuals · Corporations
Compare direct US sales, a branch, a US corporation and an LLC for a Canadian corporation, including tax, annual filings and moving an existing business.
Canada and the US · Business structure · Corporations
What a Canadian corporation files for a US rental: Form 1120-F, the net-income election, branch profits tax, T2 credits and withholding when it sells.
Canada and the US · Business structure · Corporations
One founder in Canada, one in the US: when a Canadian corporation stays a CCPC, and what the US co-founder files, from Form 5471 to PFIC tests and FBAR.
Canada and the US · Business structure · Corporations · Individuals
Canadian founders raising from US investors: what a Canadian corporation, a Delaware C corporation, or both cost in tax and filings in each country.
Canada and the US · Business structure · Corporations · Individuals
Should a Canadian founder hold Delaware or Canadian startup shares personally or through a holdco? The exemption, QSBS, filings, sale tax and timing.
Canada and the US · Business structure · Individuals · Corporations
Compare personal, joint, LLC and corporate ownership of US property for a Canadian resident, including income tax, estate tax and later transfers.
Canada and the US · Business structure · Individuals · Corporations
Independent contractor for a US company from Canada? Compare sole proprietor, corporation and employee: CRA status test, personal services business, US forms.
Canada and the US · Business structure · Individuals · Self-employed · Corporations
Is a Delaware flip taxable for Canadian founders? The three routes, the capital gains exemption, exchangeable shares, and what each company and founder files afterwards.
Canada and the US · Business structure · Corporations · Individuals
When a Canadian corporation needs state authority, what Canadian documents to gather, and what happens if it operates without registering.
Canada and the US · Business structure · Corporations
Compare a Canadian branch and subsidiary for a US business: permanent establishment, Canadian and US tax, profit transfers, registrations and returns.
Canada and the US · Business structure · Partnerships · Corporations
Canadian corporation, US C corporation or US LLC for a Canadian resident selling to the US: tax in both countries, yearly filings, getting money out.
Canada and the US · Business structure · Self-employed · Corporations
How US citizens in Canada report a Canadian corporation's retained profits, salary, dividends and investment income to the CRA and IRS.
Canada and the US · Business tax · Individuals · Corporations
When a Canadian corporation selling to US customers must file Form 1120-F, claim treaty protection, give Form W-8BEN-E, and address missed years.
Canada and the US · Business tax · Corporations
When a Canadian founder sells shares in a US C corporation, see when the US can tax the gain, whether section 1202 helps, and what Canada taxes.
Canada and the US · Business tax · Individuals · Corporations
What a Canadian sole proprietor paid by US clients reports in Canada, when US filings arise, and how GST/HST, QST and payer forms work.
Canada and the US · Business tax · Self-employed
What a Canadian owner of a US C corporation files in both countries, and how Canadian management, dividends and foreign-affiliate rules affect tax.
Canada and the US · Business tax · Corporations · Individuals
What a Canadian resident who owns a single-member US LLC files with the IRS and the CRA, why each country sees the LLC differently, and where double tax arises.
Canada and the US · Business tax · Self-employed · Corporations
Why a Canadian partner receives a K-1 and Form 8805, how to claim US withholding, and when an LLC interest produces different Canadian filings.
Canada and the US · Business tax · Individuals · Partnerships · Corporations
How a Canadian corporation claims US federal, state, and withheld income tax on its T2, including credit limits, carryovers, and refunds of excess withholding.
Canada and the US · Business tax · Corporations
Canadian filing duties for US owners of hosted miners and GPU servers, GST/HST on hosting fees, Quebec sales tax, and when credits are available.
Canada and the US · Business tax · Corporations · Partnerships · Self-employed
Never filed T1134 for your US company or LLC? Check who had to file, deadlines, penalties, missing records and CRA relief before catching up.
Canada and the US · Business tax · Individuals · Self-employed · Corporations
Missed Form 1120-F filings? Learn when a Canadian corporation can still protect US deductions, disclose a treaty claim, and catch up by year.
Canada and the US · Business tax · Corporations
Compare keeping, paying out, or closing a Canadian or US company when its owner moves across the border, including departure tax and later filings.
Canada and the US · Business tax · Individuals · Self-employed · Corporations
How related Canadian and US corporations price services, software and goods, document their charges, report transactions and handle withholding.
Canada and the US · Business tax · Corporations
Canadian creators and companies licensing work to US customers: royalty classification, treaty withholding, W-8 forms, Canadian reporting and GST/HST.
Canada and the US · Business tax · Individuals · Self-employed · Corporations
Canadian sellers of US subsidiaries and LLC interests: buyer withholding, treaty limits, Canadian capital gains, foreign affiliate elections and closing forms.
Canada and the US · Business tax · Individuals · Corporations
How Canadian sellers handle US import duties, broker fees, T2 costs, importer status, US income tax and GST/HST on parcels shipped to customers.
Canada and the US · Business tax · Corporations · Self-employed
A Canadian corporation can hold a US bank account without a US company. Learn when the account affects T1135, US returns, FBAR and exchange gains.
Canada and the US · Business tax · Corporations
What Canadian sellers should do with a US platform's 1099-K or 1042-S, when US tax or returns may apply, and how to report sales and withholding in Canada.
Canada and the US · Business tax · Self-employed · Corporations
Does moving to Canada end your S election? Check shareholder eligibility, the failure date, affected returns, and possible IRS relief for an invalid election.
Canada and the US · Business tax · Corporations · Individuals
A Canadian guide to Form 1042-S, correcting excess US withholding, filing for an IRS refund, and deciding what can count for a Canadian foreign tax credit.
Canada and the US · Business tax · Individuals · Self-employed · Corporations
Line-by-line W-8BEN-E instructions for a Canadian corporation, including FATCA status, business number, treaty claims, W-9 requests and mistaken 1099-NECs.
Canada and the US · Business tax · Corporations
When a Canadian business needs cross-border tax help, what an accountant handles, what changes the fee, and which records to gather before the first call.
Canada and the US · Business tax · Self-employed · Corporations
A Canadian resident's loss on shares, loans or a SAFE in a failed Delaware startup: capital loss or ABIL, which year, Canadian dollars, T1134, T1135.
Canada and the US · Compliance and closing · Individuals
Payroll accounts, deductions and filings when a Canadian business hires a US worker or a US business hires a Canadian worker.
Canada and the US · Owner pay and payroll · Self-employed · Partnerships · Corporations
Which US and Canadian forms, withholding rules, and records apply when a Canadian corporation pays a US contractor or sales agent.
Canada and the US · Owner pay and payroll · Corporations
How Canada taxes salary, dividends, LLC withdrawals, loans and payments through a Canadian company when you own a US business.
Canada and the US · Owner pay and payroll · Self-employed · Corporations
Sending a US crew to a Canadian data center? Check first-day withholding, RC473 certification, employee waivers, Quebec deductions and payroll reporting.
Canada and the US · Owner pay and payroll · Corporations · Partnerships · Self-employed
When US assignments make Canadian employees' wages or their corporation's profits taxable, and which payroll and state rules to check.
Canada and the US · Owner pay and payroll · Corporations
When Canada taxes employee stock options, what payroll withholds and reports on the T4, and what a funding round or Delaware flip does to existing grants.
Canada and the US · Owner pay and payroll · Corporations · Individuals
When Canadian payers withhold from a US business's service fees, how Regulation 105 waivers work, and what the business must file afterward.
Canada and the US · Owner pay and payroll · Self-employed · Partnerships · Corporations
When a CRA reassessment or IRS adjustment changes your foreign tax credit, learn which personal return to amend, what to file and which deadline applies.
Canada and the US · Personal tax · Individuals
What US citizens and green card holders living in Canada file each year: both returns, how double tax is avoided, due dates and the reporting forms.
Canada and the US · Personal tax · Individuals · Self-employed
Living in Canada with an IRS letter? Check CP2000 replies, old-address deadlines, penalty relief, identity checks and when to protect Tax Court rights.
Canada and the US · Personal tax · Individuals
For a co-founder living in Canada with vesting Delaware startup shares: when Canada taxes them, at what value after a priced round, and what to report.
Canada and the US · Personal tax · Individuals
Sent to a US data center build by a Canadian employer: when the US and the state tax your pay, how to recover withholding, and how Canada credits it.
Canada and the US · Personal tax · Individuals
US withholding, treaty limits, withholding agreements, tax numbers and refunds for Canadian performers and athletes, plus Canadian credits and state tax.
Canada and the US · Personal tax · Individuals · Self-employed
How US citizens and residents report Canadian RRSPs, RRIFs, TFSAs, FHSAs, RESPs and RDSPs: tax on income inside, FBAR, Form 8938, Form 3520 and PFICs.
Canada and the US · Personal tax · Individuals
Learn how US days, Canadian family ties and the treaty determine a TN worker’s tax returns, spouse filing choices, payroll taxes and account reporting.
Canada and the US · Personal tax · Individuals
For Canadian residents selling personally owned US real estate: closing withholding, the US refund return, Canadian reporting, and foreign tax credits.
Canada and the US · Personal tax · Individuals
What a Canadian resident who owns US rental property directly files in both countries, when US rent is withheld, and how losses and foreign tax credits work.
Canada and the US · Personal tax · Individuals
For US citizens and green card holders in Canada who never filed US returns or FBARs: which IRS procedure fits, what to file, and what it costs.
Canada and the US · Personal tax · Individuals · Self-employed
How to vet a US-Canada cross-border tax accountant: first-call questions, warning answers, who signs each return, what moves a quote and how to compare two.
Canada and the US · Personal tax · Individuals · Self-employed
How individuals moving from Canada to the US defer departure tax, file T1244, arrange CRA security, and handle a later sale or return to Canada.
Canada and the US · Personal tax · Individuals
How divorcing spouses divide RRSPs, RRIFs, IRAs and US employer plans, with direct-transfer rules, withholding and tax checks on both sides of the border.
Canada and the US · Personal tax · Individuals
Can a Canadian resident use a 1031 exchange for a US rental? Understand deadlines, FIRPTA withholding, Canadian tax and foreign tax credit timing.
Canada and the US · Personal tax · Individuals
What an executor files when a US citizen dies in Canada: final T1 and Form 1040, estate returns, treaty credits, spouse rules and release of US assets.
Canada and the US · Personal tax · Individuals
Sending money or shares to family in Canada or China? See US gift tax, Form 709, direct tuition and medical payments, and Canada's rule on gifted shares.
Canada and the US · Personal tax · Individuals
Moving to the US with an HBP or LLP balance? Check the repayment deadline, Canadian income inclusion, cancellation rules and US reporting questions.
Canada and the US · Personal tax · Individuals
Who pays Canadian tax on an inherited RRSP, RRIF or TFSA, what a US beneficiary reports, and where withholding, basis and foreign tax credits need review.
Canada and the US · Personal tax · Individuals
Inherited a US IRA or 401(k) while living in Canada? Check withdrawal deadlines, US withholding, Canadian income tax, foreign tax credits and Roth risks.
Canada and the US · Personal tax · Individuals
What Canadian residents report when a US broker restricts an account, how W-8BEN and W-9 differ, and the tax effects of transferring or selling holdings.
Canada and the US · Personal tax · Individuals
How to establish a missed Canadian departure date, correct returns and benefits, address penalties, and resolve Canadian and US residency disputes.
Canada and the US · Personal tax · Individuals
Filed US returns from Canada but missed FBARs, Form 8938 or TFSA and RESP reporting? Compare correction routes, penalty risks and records to gather.
Canada and the US · Personal tax · Individuals
Missed T1135 forms for a US brokerage account? Check the penalty clock, past-year filing steps, relief requests and when to consider voluntary disclosure.
Canada and the US · Personal tax · Individuals
Returning to China from Canada or the US? Understand departure tax, Chinese residence, overseas income reporting, foreign tax credits and accounts you keep.
Canada and the US · Personal tax · Individuals
What to file and decide when moving from Canada to the US: residency dates, departure tax, Canadian accounts, a home, and pensions.
Canada and the US · Personal tax · Individuals
What to file in the year you move from the US to Canada, when Canadian tax begins, and how US status, investments, retirement accounts and a home affect the plan.
Canada and the US · Personal tax · Individuals
Who reports a Canadian RESP when a parent or child is a US citizen, who pays tax on growth and withdrawals, and what changes when the family moves.
Canada and the US · Personal tax · Individuals
What happens to your RRSP, RRIF, TFSA, FHSA and Canadian bank and investment accounts once you live in the US, and how much Canada withholds on withdrawals.
Canada and the US · Personal tax · Individuals
How a US citizen with a Canadian sole proprietorship turns T2125 books into Schedule C: exchange rates, depreciation, car, home office and the exclusion.
Canada and the US · Personal tax · Individuals · Self-employed
Sold stocks as a US citizen in Canada? See why arrival-date value, exchange rates, share costs and loss rules produce different gains on the two returns.
Canada and the US · Personal tax · Individuals
What an executor files when a Canadian dies owning US shares or property, how the treaty affects estate tax, and how to request an IRS transfer certificate.
Canada and the US · Personal tax · Individuals
How Canadian residents on short US nursing or locum contracts handle employee or contractor pay, housing stipends, state returns and Canadian tax credits.
Canada and the US · Personal tax · Individuals · Self-employed
How Canadian snowbirds count US days, and when Form 8840 or the Canada–US tax treaty can keep a winter visitor a US nonresident for income tax.
Canada and the US · Personal tax · Individuals
Who reports or deducts spousal and child support paid between Canada and the US, how agreement dates and the treaty matter, and when state rules differ.
Canada and the US · Personal tax · Individuals
California taxes residents' RRSP earnings every year, even with no withdrawal; the treaty deferral is federal only, and no TFSA exemption is published.
Canada and the US · Personal tax · Individuals
Where to report RSUs, options, bonuses and final pay after a Canada–US move, how to allocate workdays and recover excess withholding.
Canada and the US · Personal tax · Individuals
A US or dual citizen in Canada with a TFSA or FHSA: what each holding adds to the IRS return, the PFIC cost of selling a Canadian ETF, and what closing changes.
Canada and the US · Personal tax · Individuals
How the Canada–US treaty tie-breaker decides residence when both countries claim you, what Form 8833 needs, and what changes on each return.
Canada and the US · Personal tax · Individuals
Sent by a US employer to a Canadian data center? Check treaty exemptions, payroll refunds, Quebec filings and how Canadian tax affects your US return.
Canada and the US · Personal tax · Individuals
What Canadian residents report when a US ETF distribution breakdown disagrees with a T5, how return of capital affects cost, and what withholding counts.
Canada and the US · Personal tax · Individuals
How Canada may tax a US HSA or 529 plan after a move, which withdrawals qualify under US rules, and what to check before keeping or cashing out.
Canada and the US · Personal tax · Individuals
Why Canadian investors face US withholding on gross partnership-unit sale proceeds, what RRSPs change, and which records support a possible refund.
Canada and the US · Personal tax · Individuals
You live in the US and hold options from a Canadian startup: ISO or NSO, when the US taxes them, AMT, Canadian withholding, Form 8938 and PFIC.
Canada and the US · Personal tax · Individuals
How Canada and the US tax 401(k), traditional IRA and Roth IRA accounts when you live in Canada, including withdrawals, withholding and RRSP transfers.
Canada and the US · Personal tax · Individuals
US citizens self-employed in Canada: prove CPP or QPP coverage, correct US self-employment tax paid twice, and check refund deadlines before amending.
Canada and the US · Personal tax · Individuals · Self-employed
Moved from California or New York to Canada? Check state residency, part-year returns, income taxable after leaving, and Canadian foreign tax credits.
Canada and the US · Personal tax · Individuals
When you can file US and Canadian personal tax returns yourself, when the two returns need joint planning, and what to check before hiring help.
Canada and the US · Personal tax · Individuals · Self-employed
Why a US citizen in Canada can still owe IRS tax on investments after paying Canadian tax: credit limits, US dividends, net investment income tax and the TFSA.
Canada and the US · Personal tax · Individuals
How a Canadian resident's pay from a US employer is taxed when working remotely or commuting, with the returns, payroll rules and credits to check.
Canada and the US · Personal tax · Individuals
How US warehouse stock affects sales tax, state business taxes, treaty protection and Canadian tax credits for Canadian sellers.
Canada and the US · Sales tax · Self-employed · Corporations
When a Canadian corporation selling SaaS or software to US customers must register, collect state sales tax, and handle users in several states.
Canada and the US · Sales tax · Corporations
Canadian tax accounts, import GST, and income tax filing for US sellers who store goods in Canada or use a Canadian supplier or warehouse.
Canada and the US · Sales tax · Self-employed · Partnerships · Corporations
Not sure which rules apply?