by Island Tides Accounting | Oct 26, 2026 | Small Business Taxes
Where the Cash in Your Business Goes Your financial report says the business made a profit. Your bank balance makes you wonder where that money went. If that sounds familiar, your cash flow statement is worth a closer look. For small business owners across North and...
by Amy Jacobs, EA | Aug 29, 2026 | Small Business Taxes
Quick Answer: Your small business qualifies for the R&D tax credit whenever you pay U.S. wages, contractor fees, or supply costs to overcome technical roadblocks while building or improving products, custom software, or internal processes. By working through...
by Amy Jacobs, EA | Aug 24, 2026 | Small Business Taxes
Quick Answer: The primary disadvantages to a sole proprietorship for growing business owners are unlimited personal liability and a mandatory 15.3% self-employment tax on 100% of net profit. Once annual net profit exceeds $40,000, remaining a sole...
by Amy Jacobs, EA | Aug 21, 2026 | Small Business Taxes
Quick Answer: To cleanly separate personal and business expenses, set up dedicated business accounts, automate your owner payouts, and use smart accounting tools to capture purchases in real time. Building this automated system protects your write-offs while...
