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HSA for Employees? Beat the Dreaded 35 Percent Penalty Tax
The Affordable Care Act (ACA) changed the...
Should You Convert Your Personal Vehicle to Business Use?
If you can convert a personal vehicle to...
Tax-Free Income from 14-Day Augusta Rule for S Corporation Owners
The Augusta rule gets its name from the Masters...
IRS Makes a Mess of the ERC—What to Do Now?
The IRS is on a tear against improper employee...
Tax Implications You Might Encounter as a U.S. Citizen Living or Working Abroad
Many of our clients have taken opportunities to...
Are Corporate Advances to the Owner Loans, Dividends, or Salary?
If you operate your business as a C or an S...
ICHRA: Game Changer for Small Business Health Benefits
If you are thinking about offering your...
9 Insights on the Individual Coverage HRA for Small Businesses
If you are thinking about offering your...
The distinction between repair expenses and improvement costs can impact your tax benefits.
The distinction between repair expenses and...
Five Things to Know About Employing Your Spouse
If you own your own business and operate as a...
12 Answers to Questions on Proving Expenses for Business Travel
Here’s some crucial information on how to...
Failed Mileage Log Negates Mileage Deductions
I am writing today to bring to your attention a...
How to Avoid the “Kiddie Tax”- The federal income tax rules on the “kiddie tax” and its potential impact on your financial strategy for your child(ren)
I wanted to take this opportunity to touch base...
Claim Your Overlooked 2020 COVID Sick and Family Leave Credits
I am writing about potential COVID-19 sick and...
Claim Your Missed 2021 COVID Sick and Family Leave Credits Today
I am bringing to your attention an opportunity...
It’s Not Too Late: Qualify Now for Your 2020 and 2021 ERC Money
I am writing about a significant opportunity for...
Tax Credits for Electric Vehicles: The Latest from the IRS
The IRS recently issued new guidance on electric...
Family Loans: Only Path to a Decent Home Loan Rate? Setting up a tax-smart loan structure
Here’s some information on how you can help a...
One Ugly Rule for Owners of S Corporations Deducting Health Insurance
When your S corporation covers or reimburses...
Revitalize Your Understanding: Guide to Bad Debt Loss Deductions
The current economic climate makes this a good...
Don’t Expose Yourself with Improper Use of the $75 Rule
The $75 rule applies to certain business...
NFTs and Taxes: New Rules and What You Need to Know
Did you buy, sell, donate, or receive an NFT...
If I Hire My Kids, Can I Give them Tax-Free Education Benefits?
If your children work in your business, consider...
Holding Real Property in a Corporation: Good or Bad Idea?
As the real estate market has cooled off in many...
Avoid This Family Member S-Corp Health Insurance Mistake
I’m reaching out to remind you of two important...
An Update on 2023 Health Insurance for S Corp Owners
We are writing to update you on the latest...
The SECURE Act Creates New Tax Strategies for RMDs
As you are likely aware, if you have an IRA or...
Do You Owe Self-Employment Tax on Airbnb Rental Income?
Do you owe self-employment tax on Airbnb rental...
Are You Cheating Yourself by Using IRS Mileage Rates?
I see that you are using IRS mileage rates to...
Section 1031: Don’t Miss This Depreciation Election
As you likely remember, the Section 1031...
Can switching to an S-Corp save you a significant amount of money? Let’s explore!
I know you report your business on Schedule C of...
One of the downsides to selling a business or investment property is the huge tax bill at the end. Should you consider an installment sale?
Do you own investment property? What about a...
Could you increase your tax deductions by switching from the IRS mileage rate to the actual-expense method?
Is the mileage rate sticking it to you? ...
New Law Improves Energy Tax Credits for Business Owners and Landlords
The federal government wants you to go green if...
The Corporate Tax Rules for Forming an S Corporation Appear Simple
At first glance, the corporate tax rules for...
Answers to Questions About the Employee Retention Credit (ERC)
If you had W-2 employees in 2020 and/or 2021,...
Bonus Depreciation And Section 179 Expensing
,,All good things must come to an end. On...
A Little-Known Tool to Earn 9.62% (Percent), Tax-Deferred
Inflation is seldom a good thing.But when it...
Tax Credits for Electric Vehicles
You may have heard that the newly enacted...
Tax Credits for Homeowners
The President signed the Inflation Reduction Act...
Sources of Tax-Free Income
I was perusing the Internal Revenue Code (it’s...
Learn How Make Those Trips from Home to the Office Deductible
We absolutely, positively don’t like commuting...
The single most popular alternative investment for self-directed IRAs is real estate.
It is getting increasingly popular for...
Cryptocurrency Such as Bitcoin is all the Rage These Days
Cryptocurrency such as bitcoin is all the rage...
What happens when the IRS audits business owners and deems their 1099 independent contractors W-2 employees?
You have read horror stories about how the IRS...
IRAs for Children
Working at a tender age is an American...
Grouping Rules That Apply for Passive-Loss Purposes
When you own more than one business, you need to...
Do You Have a Vacation Home That You Rent Out?
If the average period of rental is less than 30...
How Do You Multiply Your Net Worth?
How do you multiply your net worth? Let the...
Don’t Rob Yourself of the Home Internet Deduction
Given the connected nature of remote work these...
Tax-Saving Double Pay
You don’t often get the opportunity to even...
How You Can Pay Less Tax This Year
It's true. The IRS loves you! Why do I say that?...
What Are 10 Tax Strategies for Schedule C Taxpayers? How to Use Them and Where to Find Them
As a small business owner, you know that tax...
Are you an S Corporation? Here’s 10 Tax Saving Strategies You Should Know
We all want to save money whenever it’s...
How To Avoid Any Type Of Capital Gain Tax On Real Estate Investment Property
The real estate market has been on an upward...
Why Is There A Retirement Crisis In The Latino Community
The Hispanic community is facing a retirement...
How Can Apps and Tools Help You To Keep Your Expenses In Order for Tax Time?
Listen, the reality is this, tax season is...
Certain Retirement Contributions Can Affect Your Tax Liability-Why You Need To Start Planning Now
Retirement is a time of great change and...
WHAT IS THE 1031 EXCHANGE? SOME BENEFITS AND TAX STRATEGIES TO KNOW
Being a real estate investor comes with many...
Do You Pay Taxes On Investments? Short-Term Gains Vs Long-Term Gains Differences
Do you pay taxes on investments? If you’re like...
5 Tax Saving Strategies Every Real Estate Investor Should Know
Are you a real estate investor? If so, then you...
How to Avoid Double Taxation on your Business Income and Gains
There are two things in this life that are...
Why Hiring Your Child Is a Good Tax Strategy to Save on Payroll Taxes
Can you really hire your child to work in your...
Commingling Funds: What It Means, The Implications and How You Should Avoid It
Are you a business owner? Do you have personal...
What is the QBI Deduction and How Can We Leverage it?
As a real estate agent or broker finding ways to...
Tax Implications When Selling Your Home
Getting ready to put your house on the market?...
What’s the Difference Between a Bookkeeper and a CPA?
Are you looking for a bookkeeper or a CPA to...
Want to Qualify for a Home Business Deduction?
With a major shift in business over the past...
Last Minute Real Estate Agent Tax Deductions?
It’s just crazy how BOOMING the market is right...
CONFUSED ABOUT TAX BRACKETS? SOME THINGS TO KNOW ABOUT WHICH ONES YOU FALL UNDER
Curious about how tax brackets affect you and...
INSIGHT INTO VEHICLE DEDUCTIONS & HOW TO USE THEM THE RIGHT WAY
Let’s face it, we normally spend more time in...
THE APPLICATION FOR RESTAURANT REVITALIZATION FUND GRANT IS NOW OPEN
GREAT NEWS! Restaurants that suffered a major...
HOW A HIGH EARNER CAN GET CRIPPLED BY IMPROPER TAX PLANNING
Let’s face it, it’s always exciting when you’re...
DEADLINE FOR PAYCHECK PROTECTION PROGRAM (PPP) APPLICATION HAS BEEN EXTENDED TO MAY 31st
GREAT NEWS! The PPP Application Deadline has...
FILING TAXES QUARTERLY OR ONCE A YEAR-HOW TO DETERMINE WHICH ONE IS BEST
“To file quarterly, or not to file quarterly,...
How to prepare for Tax Day
Brace yourself, it's tax season! Preparing to...