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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UPDATED AUGUST 12, 2021 Exciting news! The U.S. Small Business Administration (SBA) has launched a streamlined application portal to allow borrowers with PPP loans of $150,000 or less to apply for forgiveness directly through the SBA. The SBA’s new streamlined application portal will simplify forgiveness for millions of small businesses. The new forgiveness platform began accepting applications from […]

Business Tips

COVID-19 Relief Options

New tax-related scams come to light every year… and unfortunately, this year is no different. No matter what time of year, you should be on the lookout for scams. The IRS shared the following red flags to help you spot scams and avoid becoming a victim. Phone Scams The IRS does not leave pre-recorded, urgent […]

Business Tips

How To Avoid Tax Scams

Do you drive a lot for your job or your business? Are you constantly on the road heading to client meetings or events? If this is you, you’ve probably wondered if you can deduct your car expenses as a tax write-off. Here’s a breakdown of the criteria you must meet to be able to claim […]

Tax Deductions

Can You Write-off Your Car Expenses?

For many years, 529 college savings plans have offered a tax-favored way to save for higher education. These plans, officially called qualified tuition programs, are funded with after-tax dollars. Account owners choose from a menu of investments, and any earnings are untaxed. Distributions are also tax-free if they do not exceed the qualifying educational expenses […]

Savings & Retirement, Tax Reform

529 Education Savings Plans

Are you thinking about hiring some help for your business? Or maybe you already have? It’s important to understand and correctly apply the rules for classifying a worker as an employee or an independent contractor. For federal employment tax purposes, a business must examine the relationship between it and the worker. The IRS Small Business […]

Business Tips

Employee vs. Contractor

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

Savings & Retirement

Roth IRA vs. Traditional IRA

As we approach the holiday season, you may be thinking about sending gifts to some of your clients. Or maybe you would like to thank your employees and contractors with a little year-end gift. As a business owner and boss this is a great way to build lasting relationships and team morale! So let’s walk […]

Tax Deductions

Are Gifts a Write-off?

Have you ever wondered what your chances are of being audited? If so, you may be happy to hear that as the IRS’s budget and audit staff continue to decrease, audit numbers are at an all-time low. Taxpayers whose returns stray outside of what’s considered normal or have “large, unusual or questionable items” can always […]

Business Tips

Will You Get Audited?

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