Articles | SBS Tax and Consulting Services

Samuel Lai

Tax Saving Tips for Crypto Investors

If you are a crypto investor, like me, you probably realize that 2022 was a roller coaster year for crypto trading. Bitcoin has fallen...

R&D Credit: One of the biggest tax credits small business owners could get

Samuel Lai

R&D Credit: One of the biggest tax credits small business owners could get

In terms of R&D (Research and Development) tax credit, large corporations, like SpaceX, Pfizer, and many others have received millions of...

Why Hiring Your Children is a great tax strategy?

Samuel Lai

Why Hiring Your Children is a great tax strategy?

Summer vacation is coming soon. Some parents prepared a well-planned summer schedule for their children, and some parents want their...

SBS Tax and Consulting Services

Digital nomads ≠ Tax dodgers

Digital nomads, by definition, are people who use telecommunications technologies to earn a living and, more generally, conduct their...

Working Remotely - Tax Implications You Should Know

SBS Tax and Consulting Services

Working Remotely - Tax Implications You Should Know

Due to COVID-19, a large portion of the workforce transitioned to working from home as the pandemic grew. With COVID-19 still gripping...

Infrastructure Bill. What does it mean to Crypto Investors?

SBS Tax and Consulting Services

Infrastructure Bill. What does it mean to Crypto Investors?

On November 15, 2021, President Biden signed the $1.2 trillion “Infrastructure Investment and Jobs Act” (the “Act”), commonly referred to...

Common assumption on tax reporting and filing about crypto

SBS Tax and Consulting Services

Common assumption on tax reporting and filing about crypto

Over the years, IRS has sent letters in different versions to people with digital currency transactions who may have failed to report...

SBS Tax and Consulting Services

Do I need to pay taxes on Crypto ?

Some people may ask that I haven’t received any tax documents or 1099-B for my bitcoin trading of the year, does it mean that I don’t...

SBS Tax and Consulting Services

Are you paying too much in tax?

You might be wondering why your check is so small after tax, and what can be done to change the deducted amount. Fortunately, you, as a...

Are you an AirBnB host? These are the things you need to know

SBS Tax and Consulting Services

Are you an AirBnB host? These are the things you need to know

If you are thinking about using Airbnb or other short term rental sites to make a little extra money, these are the important things you...

Do you have a bank account in a foreign country - This is what you need to know

SBS Tax and Consulting Services

Do you have a bank account in a foreign country - This is what you need to know

In today's globalization world, it is fairly common for U.S taxpayers to have one or more financial accounts located outside of the U.S....

Electing to be an S-Corporation: The Business Entity Combo

SBS Tax and Consulting Services

Electing to be an S-Corporation: The Business Entity Combo

For an S-corporation, you can basically see the character of almost of every business entity, such as sole proprietorship, partnership,...

Starting a business as Corporation: From an idea to a business entity

SBS Tax and Consulting Services

Starting a business as Corporation: From an idea to a business entity

There is two types of corporation structure: C-corporation and S- corporation. In this article, we are only focused on C-corporation’s...

Starting a business as a partnership: Partnership = Marriage

SBS Tax and Consulting Services

Starting a business as a partnership: Partnership = Marriage

A successful business partnership is similar to a good marriage. Both partners request not just short term mutual interest but long term...

Is it the right time for you to convert your sole proprietorship to an LLC or Corporation?

SBS Tax and Consulting Services

Is it the right time for you to convert your sole proprietorship to an LLC or Corporation?

A successful small business owner has been doing business as a sole proprietorship for many years, and his biggest concern is whether he...

Starting a business as Sole Proprietorship: from the business and tax point of views

SBS Tax and Consulting Services

Starting a business as Sole Proprietorship: from the business and tax point of views

According to the IRS’s record, a sole proprietorship is the most common form of business organization in the U.S. and included over 23...

It is time to check your estimated tax payment

SBS Tax and Consulting Services

It is time to check your estimated tax payment

A small business client of ours was complaining about why he needs to pay a lot of tax on April 15 and what is the estimated tax penalty....

Do you know you need to file taxes in more than one state?

SBS Tax and Consulting Services

Do you know you need to file taxes in more than one state?

My New Jersey friends who work in New York asked why they need to file two states tax return. One for NJ, and another one for NY. The...

What you should know about taxes as a freelancers

SBS Tax and Consulting Services

What you should know about taxes as a freelancers

As a freelancer, you have unlimited potential to earn money and fulfill your needs because of your freedom. In other words, you own your...

What is the Research and Development Tax Credit? You might be qualified for it

SBS Tax and Consulting Services

What is the Research and Development Tax Credit? You might be qualified for it

I have mentioned about the R&D credit to some small business owners, and they are confused and asked me “isn’t the R&D credit only for...