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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When you’re working for an employer, it is their responsibility to ensure that federal and state taxes are withheld from your paycheck. However, if you’re an independent contractor, freelancer, own your own business, or do any income-producing side hustle, the burden to pay Uncle Sam is solely on you. Bummer, I know. The good news […]
New tax-related scams come to light every year… and unfortunately, this year is no different. So far in 2025, the IRS has identified thousands of fraudulent domains tied to text scams, known as smishing. Smishing campaigns target mobile phone users, and the scam texts often look like they’re coming from the IRS, with fake messages […]
Traveling for business is a necessary—and sometimes fun—part of running a company. Whether you’re meeting with clients or suppliers, attending conferences, or scouting out new opportunities, these trips come with significant expenses. The good news? The IRS lets you deduct many of these costs. But before you start tossing every receipt into the tax-deductible pile, […]
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, […]
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 […]
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 […]
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 […]
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