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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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 […]
It’s the 21st century. We live in a digital world. No one wants to keep hundreds of little scraps of paper throughout the year! So is it really necessary to keep that tiny receipt documenting the stamps you just bought at the post-office? If you’re a business owner, freelancer, or anyone who is doing any […]
If you’ve recently inherited an IRA, you need to be aware of several important tax considerations, especially if the IRA came from someone other than your spouse. Because while the original account owner could wait until they reached retirement age to start taking distributions from the account, you might need to start taking withdrawals right […]
While pandemic-related shutdowns might feel like a distant memory, one pandemic-related tax incentive remains in the spotlight. The Employee Retention Credit (ERC) was a refundable payroll tax credit designed to support small businesses that kept employees on payroll during the pandemic. The ERC officially ended in 2021, although businesses can retroactively apply for the credit […]
You work hard for your money, and giving back is something you’re passionate about. Want to make your charitable giving more strategic and purposeful? Then think twice before you donate cash. Cash is Queen, But There’s More to the Story Sure, writing a check or entering your credit card number online is straightforward. And hey, […]
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