Tax Hive Blog

Question: What Is a Qualified Retirement Plan (QRP) and How Does It Impact Taxes? Answer: A Qualified Retirement Plan (QRP) a pension plan for self-employed workers that allows tax deferment ... READ ARTICLE

Question: Is There a Maximum Age Limit To Setting Up a Retirement Account? Answer: There is no maximum age to create or set up a new retirement account. However, you ... READ ARTICLE

What states protect single member LLCs? As it turns out, definitions for both “limited” and “liability” vary, depending on the state of incorporation. Some state courts have improved protections over ... READ ARTICLE

For 2020 into 2022, businesses around the globe suffered significant economic loss as a result of the pandemic. Between mandatory shutdowns, stay at home orders, and self-isolation, the U.S. economy ... READ ARTICLE

What is a Qualified Joint Venture and how does it work? What are the benefits and drawbacks, and how to file taxes. A “Qualified Joint Venture” (QJV) is a tax ... READ ARTICLE

Network Marketing -- the OG of the side hustle, gig economy, and non-celebrity influencers. Chances are you’ve had family or friends dabble in network marketing at some point. Network marketers ... READ ARTICLE

Question: Can I include children on my company payroll? Answer: Generally, as a business owner, you can add children to your payroll. The work must be for a specific business ... READ ARTICLE

With the economic changes of 2020 through 2021, many have gained a new perspective on life. People began working from home and spending more time with loved ones. Suddenly, so ... READ ARTICLE

If you own a small business, why should you care about maximizing tax deductions and credits? With the goal of the small business being profitability to survive and grow, taxes ... READ ARTICLE