Knowing which expenses your LLC can deduct is fundamental to maintaining healthy business finances. Every legitimate business expense you properly document and deduct reduces your taxable income, ...

While you may have initially opted for the sole proprietorship or partnership structure for your startup business, these structures may not be practical once your business begins to grow and expand.

Sometimes a limited liability company, or LLC, has a year with no business activity. For example, a newly formed LLC might not have started doing business yet, or an older LLC might have become ...

Karla Dennis, EA, MST, is CFO/CEO of the award-winning tax accounting firm KDA Inc.—specializing in tax planning. It’s 2025, and with it come major tax law changes for LLC owners. It’s crucial to stay ...

The Tax Court, in a case of first impression, held that an estate was entitled to a theft loss deduction arising from the worthlessness of an investment account held by a limited liability company ...