Tax & Bookkeeping Hacks for Entrepreneurs

Yep, you can write that off! We’re here to help you maximize your profits, minimize your tax liability, and tap into the right tax deductions for your small business. 

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quarterly taxes

Life happens. You miss a tax deadline or can’t pay the taxes you owe. While you might face IRS penalties, these penalties are often preventable. In some cases, you might even be able to get them waived. So rather than panicking or avoiding the issue, let’s look at what kinds of penalties the IRS charges, […]

Business Tips, Quarterly Estimated Taxes

Failure to File: Your Guide to Understanding IRS Penalties

So, you’ve hit the jackpot with your sports bets—congratulations! Whether you’re betting on your favorite team or analyzing stats like a pro, winning feels amazing. But before you get too comfortable dreaming about what to do with your earnings, let’s talk about an often-overlooked aspect of sports betting: taxes. Yes, you might have to send […]

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Betting on Sports? Understand the Tax Rules for Gambling Winnings

A question we hear all the time is “Should I invest into a Traditional IRA or a Roth IRA?“. What’s the difference between the two? Is one better than the other? Hopefully this post will help clear up the mystery! The “best” IRA is the account that leaves you with the most money in retirement. […]

Savings & Retirement

Roth IRA vs. Traditional IRA

A 1099-NEC is an information return form to report nonemployee compensation (i.e. payments to someone other than an employee of your company) and is probably one of the most misunderstood business requirements of the IRS. Every year when January rolls around, many business owners are wondering if they have to send 1099s to their contractors […]

Business Tips

Small Businesses & 1099’s

With tax season right around the corner, this is the time of year that many business owners are thinking about taxes. Do you want to reduce your taxes? Of course you do. One way of doing this is implementing tax deferral strategies. But what does that even mean? Tax deferral means taking a deduction and […]

Savings & Retirement, Tax Deductions

Year-end Tax Deferral Strategies

Running a small business is already a juggling act—do you really want to complicate things further by having the wrong bank accounts? Whether you’re starting out, expanding, or streamlining your finances, having the right mix of business bank accounts is like having the perfect tool for the job—it just makes everything run smoother. To help […]

Business Tips, Savings & Retirement

How to Choose the Right Bank Account for Every Business Need

How much do you need to retire comfortably? It’s a tricky question to answer, but according to a survey from Schwab Retirement Plan Services, on average, Americans believe they need to have $1.9 million saved for retirement. A seven-figure 401(k) balance is certainly an achievement, but it can come with some tax challenges in retirement […]

Savings & Retirement, Tax Deductions

How to Minimize Taxes on a $1 Million 401(k) in Retirement

Chances are, your business now faces a new compliance requirement: FinCEN’s Beneficial Ownership Information reporting requirements, also known as BOI reporting. What Is Beneficial Ownership Information Reporting? Beneficial Ownership Information (BOI) reporting is part of the Corporate Transparency Act (CTA)—legislation Congress passed to crack down on illegal activity, including money laundering, corruption, and tax fraud. […]

Business Tips

How To DIY FinCEN’s BOI Reporting

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