A general partner who works in the family restaurant supply business pays self-employment tax on the profit that flows to them from the partnership, the same as a sole proprietor would. A limited partner who put up capital and never shows up to work is not supposed to owe that

You’re running a small business in New York City, and tax season just handed you a line item you’ve never seen before: the New York City Unincorporated Business Tax, or UBT. If you’re a sole proprietor, a partner, or the owner of a single-member LLC doing business in the city,

If your business spends money developing new products, software, or processes, you already know how frustrating the last few years have been. From 2022 through 2024, the tax code forced you to capitalize and slowly write off those research costs over five years instead of deducting them right away, turning

New York City’s new “pied-à-terre tax” spent about six weeks on the books before a judge hit the brakes, at least for now. If you own a second home in the city, or you run a small business anywhere in the country that happens to hold New York real estate,

If you have spent any time searching for a bookkeeping service lately, you already know the pricing out there looks like it was pulled from a dartboard. One company quotes you $200 a month. Another wants $1,500. A third asks a dozen questions about your monthly expenses before it will

If you bought a truck, a piece of machinery, or new equipment for your business recently, you may be able to deduct the entire cost against this year’s income instead of spreading it out over five or seven years. Bonus depreciation, the additional first year deduction under the tax code,

If you own a condo, co-op, or brownstone in New York City that isn’t where you actually live, the city just gave you a new reason to keep your paperwork airtight. Starting with the 2026-2027 fiscal year, New York City is charging an annual surcharge on high-value homes that function

A management consultant who spent a decade building her practice out of a Manhattan office decides the math no longer works: New York’s income tax rates are high, her clients are happy to meet over video calls, and moving to Connecticut or New Jersey looks like an easy way to

Opening your own medical practice in New York is a huge step, and the tax and accounting side of that decision deserves just as much attention as your lease, your equipment, and your first hires. The choices you make in your first year, from how you structure the practice to

Running a business across state lines usually means untangling rules that catch you by surprise, and the Texas franchise tax is one of the more surprising ones. Despite its name, this tax has nothing to do with franchising a restaurant or a gym. It’s a separate obligation that catches many