Understanding Common Expenses for Photographers: A Guide to Maximizing Profits As a photographer, you need to have the right equipment, skills, and resources to succeed in the competitive industry. However, managing expenses can be overwhelming, especially if you’re a new or independent photographer. In this guide, we’ll explore common expenses that you may encounter …
Landscaping Tax Deductions Landscaping improvements can qualify for depreciation if they are considered part of the business property and have a determinable useful life. To be eligible for depreciation, the landscaping improvement must meet the following criteria: The improvement must be tangible property, such as trees, shrubs, or other plants, that are planted …
Forming a Franchise I. Introduction Definition of franchise Benefits of setting up a franchise II. Legal Considerations Franchise laws and regulations Franchise disclosure documents (FDDs) Contracts and agreements Intellectual property protection III. Accounting Considerations Financial feasibility analysis Budgeting and forecasting Capital investment requirements Accounting software and systems IV. Tax Considerations …
Understanding Pass-Through Entities and Virginia Tax If you own a pass-through entity in Virginia, such as an S corporation or partnership, you need to be aware of the tax implications. Here’s what you need to know. What Is a Pass-Through Entity? A pass-through entity is a type of business structure that does not pay taxes …
Taxation of H-1B Visa Holders: What You Need to Know If you are an H-1B visa holder, it’s important to understand how your immigration status affects your tax obligations. Here’s what you need to know. What Is an H-1B Visa? An H-1B visa is a temporary work visa that allows foreign workers to work in …
Taxation of H-1B Visa Holders: What You Need to Know If you are an H-1B visa holder, it’s important to understand how your immigration status affects your tax obligations. Here’s what you need to know. What Is an H-1B Visa? An H-1B visa is a temporary work visa that allows foreign workers to work in …
What is Schedule E? If you own rental property or have other sources of income from real estate investments, you may be familiar with Schedule E. Here’s what you need to know about this tax form. Overview Schedule E is a tax form used to report income and expenses from rental real estate, royalties, partnerships, …
What Is a REIT and How Does It Work? A real estate investment trust (REIT) is a company that owns or finances income-producing real estate. Here’s what you need to know about REITs. Types of REITs There are three main types of REITs: equity, mortgage and hybrid. Equity REITs own and operate income-producing real estate, …
