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Understanding Bookkeeping for Landscaping Business

Steve Feinberg

This method requires a more active approach on your end, but it will give you a clearer picture of your business’s cash flow. However, before you decide on which method is best for you, it’s best to speak with a CPA to learn more about the requirements and tax liability of each. Track everything.

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Tax Benefits of S-Corporation: How Does a S-Corp Save Taxes?

LyfeAccounting

You’ll want to consult with a CPA , or your tax and legal advisor regarding your specific business. As an example, if you are the sole owner of an S-Corp, and the business suffered a loss of $10,000, you would be able to take a $10,000 deduction on your tax return , meaning the loss can offset any other income that you received.

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