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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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

As an entrepreneur, we’ve all had those customers or clients who are notorious for paying late. You’ve likely had to send a few notes that tell a customer “Hey, you’re overdue. Can you please pay us?” These notes, which are also called “dunning letters”, can be sent via email or as a paper letter. Sounds […]

Business Tips

How To Get Paid (Faster)!

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?

Starting and managing your own small business can be the most fulfilling experience, but it comes with several responsibilities, including providing certain employee benefits. In fact, according to a survey by Glassdoor, 57% of job seekers report benefits and perks being among their top considerations when deciding whether to accept a job offer. Employee benefits […]

Business Tips

Minimum Employee Benefits a Small Business Must Provide

If you own a small business, there’s a good chance you need to issue one or more 1099s. Properly filing Form 1099 is essential for complying with IRS rules and avoiding penalties. But many small business owners aren’t aware of their filing requirements. This article provides an overview of what business owners should know about […]

Business Tips

Do You Have to File 1099s?

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

As a small business owner, you know how important it is to maximize profits and minimize expenses—especially in times of economic uncertainty. But cutting costs too aggressively can hinder growth. After all, if you’re too focused on reducing budget lines, it becomes tough to allocate resources toward increasing operations and expanding your reach as an […]

Business Tips

How to Cut Expenses Without Limiting Growth

Are you a business owner considering purchasing a vehicle or truck in 2023? Claiming depreciation on that vehicle can make a huge difference in your tax liability. At first glance, auto depreciation might seem like an overwhelming topic. So this blog post will break down everything you need to know about depreciating (aka “writing off”) […]

Tax Deductions

Vehicle Depreciation Limits for 2023

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