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Tax Cafe — Autarky Tax and Accounting

Autarky Tax & Accounting

Tax Cafe

Practical guides, tax planning strategies, and accounting insights from our CPAs and Enrolled Agents

110 posts

FBAR Filing: What US Persons With Foreign Accounts Must Know
International Tax

FBAR Filing: What US Persons With Foreign Accounts Must Know

If you have foreign financial accounts totaling more than $10,000 at any point during the year, you are required to file an FBAR. A practitioner-level guide to who files, what is reportable, penalties, and how to catch up on missed years.

•13 min read•scott-autarky
#FBAR#international tax#foreign accounts
S Corp Election: What You Need to Know Before You File
Small Business Tax

S Corp Election: What You Need to Know Before You File

Electing S Corp status can save self-employed owners thousands in self-employment taxes — but timing, eligibility, reasonable compensation, and ongoing compliance all matter. A practitioner-level guide.

•12 min read•scott-autarky
#S Corp#entity selection#self-employment tax
Starting a Business: Tax and Accounting Essentials From Day One
Small Business Tax

Starting a Business: Tax and Accounting Essentials From Day One

The decisions you make when starting a business — entity type, accounting method, payroll setup — have lasting tax consequences. Get them right from the start.

•5 min read•scott-autarky
#starting a business#entity selection#LLC
Change of Accounting Method: What Business Owners Need to Know
Small Business Tax

Change of Accounting Method: What Business Owners Need to Know

Changing your accounting method can unlock significant tax savings — but the IRS has strict rules about how and when it can be done. Here is what every business owner should understand.

•6 min read•scott-autarky
#accounting method#Form 3115#Section 481
Cost Segregation Strategies for Real Estate Owners and Small Business
Cost Segregation

Cost Segregation Strategies for Real Estate Owners and Small Business

Cost segregation is one of the most powerful tax deferral tools available to real estate owners and businesses that own their property. Here is how it works and how to maximize the benefit.

•7 min read•scott-autarky
#cost segregation#real estate#depreciation
The NIMS Method: Simplifying Inventory Accounting for Small Businesses
Small Business Tax

The NIMS Method: Simplifying Inventory Accounting for Small Businesses

The Non-Incidental Materials and Supplies (NIMS) method is an IRS-approved accounting approach that lets eligible small businesses deduct inventory costs when used or consumed — and immediately write off labor and overhead.

•6 min read•scott-autarky
#NIMS#inventory#accounting method
RSUs and ISOs: A Tax Guide to Equity Compensation
Individual Tax

RSUs and ISOs: A Tax Guide to Equity Compensation

Restricted Stock Units and Incentive Stock Options are powerful wealth-building tools — but they come with complex tax rules that can catch employees off guard. Here is what you need to know.

•8 min read•scott-autarky
#RSU#ISO#equity compensation
Cryptocurrency and Digital Assets: A Tax Guide for Investors and Traders
Individual Tax

Cryptocurrency and Digital Assets: A Tax Guide for Investors and Traders

The IRS treats cryptocurrency as property — not currency. That means every trade, sale, and even some transfers can trigger a taxable event. Here is what you need to know to stay compliant.

•10 min read•scott-autarky
#cryptocurrency#digital assets#Bitcoin
Form 1041 vs. Form 706: Understanding the Two Estate Tax Returns
Estate & Trust Tax

Form 1041 vs. Form 706: Understanding the Two Estate Tax Returns

When someone passes away, two entirely different tax returns may be required — one for the estate''s income, and one for the transfer of wealth. Here is how Form 1041 and Form 706 differ and when each is required.

•10 min read•scott-autarky
#Form 1041#Form 706#estate tax