Introduction The Credit for Other Dependents (ODC) is a non-refundable tax credit designed to help taxpayers supporting qualifying dependents who do not qualify for the Child Tax Credit (CTC)....
Introduction If you made energy-efficient upgrades to your home in 2025, you may qualify for a tax credit that reduces your federal tax bill. Under IRC § 25C and...
Introduction Financial ratios help business owners and investors evaluate financial performance, profitability, and stability. These ratios, derived from financial statements, provide insights into a company’s liquidity, efficiency, leverage, and...
Introduction A break-even analysis helps businesses determine the sales volume needed to cover total costs before generating a profit. It is essential for pricing strategy, financial planning, and cost...
Introduction Tax credits directly reduce the amount of tax a business owes, making them one of the most effective ways to lower tax liability. Unlike deductions, which lower taxable...
Introduction Small businesses must follow IRS tax regulations to avoid costly mistakes that can lead to penalties, audits, and overpaying taxes. Common tax errors include misreporting income, missing deductions,...
Introduction EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is a key financial metric used to evaluate a company’s profitability and cash flow. It helps investors, lenders, and business...
Introduction A cash flow statement tracks how money moves in and out of a business over a specific period. Unlike an income statement, which focuses on revenue and expenses,...
Introduction Financial statements provide a snapshot of a company’s financial health, helping business owners, investors, and stakeholders make informed decisions. These reports summarize revenues, expenses, assets, liabilities, and cash...