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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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 […]
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 […]
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 […]
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. […]
The idea of moving from a high-tax state to a low-tax one can feel like an absolute dream. Low-tax states like Florida, Texas, Nevada, and Tennessee offer sunshine, maybe a slower pace of life, and a little extra in your pocket at tax time. This trend has become increasingly popular—especially since the pandemic made remote […]
Many business owners are surprised to learn that taxes are one of their biggest costs. Soul crushing, right?! That’s why it’s so important to be aware of as many deductions and credits as possible to keep more of your money in your pocket! PS – Download this entire list in PDF form to keep handy […]
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