Resources
Tax & Business Insights
Practical tax, bookkeeping, payroll, and small business guidance from the SK Financial team.
What Do Bookkeepers Do? Why Bookkeeping Is Important for Business.
Bookkeepers maintain records of financial transactions. Recording income and expenses, handling invoices, balancing bank accounts, and verifying financial records
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What documents do I need to file my LLC taxes?
What documents do I need to file my LLC taxes. The main tax form for multi-member LLCs is Form 1065. you’ll need to generate a Schedule K-1 for each member of the LLC.
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When can i file my taxes in 2025?
When can i file my taxes in 2025? You can start filing as early as January 15, 2025. If you’re expecting a refund, the earlier you file, the sooner you’ll get your money.
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Why Do I Owe So Much in Taxes?
Finding out that you owe a lot in taxes can be a frustrating and confusing experience, especially if you were counting on a refund. Common reasons why do I owe so much in taxes
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1040 vs 1099 Forms: What are the Differences?
A 1099 form reports income you received, while Form 1040 is the tax return you file to report all your income to the IRS. If you receive a 1099, that income eventually shows up on your 1040.
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What are 401(k) contribution limits for 2026
Learn 401(k) contribution limits and tax forms? contribution rules, catch-up limits, withdrawals, rollovers, and which tax forms may affect your return, so you can avoid costly mistakes.
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What is Form 8949? How to Fill Out Form 8949
Form 8949 helps report stocks, crypto, and real estate sales to the IRS. Learn how to file, short vs long-term gains, and how it works with Schedule D
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What Is an Accountable Plan and Why It’s Needed for S Corp Owners
Owners of S corporations use accountable plan to reimburse themselves for business expenses. They're simple to set up, but keep good records in case the IRS requests
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Adoption Tax Credit 2025-2026
For the 2025 tax year, the adoption tax credit allows eligible families to claim up to $17,280 per adopted child, and beginning in 2025, up to $5,000 of that amount is refundable.
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American Opportunity Tax Credit: A Comprehensive Guide
The American Opportunity Tax Credit (AOTC) lets eligible taxpayers claim up to $2,500 per student for college expenses, with up to $1,000 refundable.
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How to Avoid Tax on a Savings Account
Explore effective ways to reduce or avoid taxes on your savings account. Smart strategies to maximize interest earnings and keep more of your money
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10 Most Common Bookkeeping Mistakes And How to Avoid Them
Know bookkeeping mistakes Mixing Personal and Business Finances, Ignoring Regular Reconciliation, Forgetting to Track Small Expenses, Not Backing Up Financial Data and more
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