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TopicsCrypto Deductions Family Irs Llc & S Corp Payroll Personal Taxes Real Estate Retirement Side Hustle Small Business Tax Fundamentals Tax Strategy

Why running your business on cash is a red flag

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Why running your business on cash is a red flag

The IRS gets suspicious when no bills are paid through a bank, and they'll assume you're avoiding taxes.

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You don't need an LLC to be a business

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You don't need an LLC to be a business

You're a sole proprietor the moment you start selling, with or without an LLC filing.

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Why your tax strategy depends on your specific situation

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Why your tax strategy depends on your specific situation

The right deductions depend on your business type, profits, and household income from W2 jobs.

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Will you go to jail for not filing your taxes

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Will you go to jail for not filing your taxes

Tax fraud can mean jail, but most non-filers just get a bill from the IRS that can often be reduced by filing properly.

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How to stretch a business trip into a longer deductible stay

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How to stretch a business trip into a longer deductible stay

Plan meetings on Friday and Monday to make weekend hotel and meals tax deductible as part of your business travel.

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Augusta rule requires actual staff meetings at your home

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Augusta rule requires actual staff meetings at your home

The Augusta rule deduction requires real staff visits and fair market value, not an automatic $40K write-off.

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What counts as a business trip for tax purposes

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What counts as a business trip for tax purposes

Business trips need a business purpose, and you can deduct travel days plus any days you work, including weekends between meetings.

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What counts as a deductible business meal

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What counts as a deductible business meal

Business meals don't require travel or client meetings; any meal that genuinely helps your business can qualify for a 50% deduction.

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What triggers an IRS audit on your tax return

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What triggers an IRS audit on your tax return

The IRS computer flags returns where things don't add up, like a high earner running a business that loses too much money.

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Can you deduct purchases made with gift cards

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Can you deduct purchases made with gift cards

Gift cards you receive can still count as a business deduction when used for business expenses.

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Which business expenses are actually deductible

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Which business expenses are actually deductible

Quick rundown of common deductions like mileage, meals, home office, and travel, plus what does not qualify.

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Where to find me if TikTok gets shut down

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Where to find me if TikTok gets shut down

All the same tax content is also posted on Instagram if TikTok goes away.

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How a business cruise could be tax-deductible

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How a business cruise could be tax-deductible

A trip with business education as its primary purpose may qualify as a tax-deductible expense.

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Tax deductible cruise announcement

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Tax deductible cruise announcement

Brief mention of a Bahamas business trip with a link for more information on updates.

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Business meals don't need to be 30 miles away

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Business meals don't need to be 30 miles away

You can deduct business meals in your own neighborhood, not just when traveling far from the office.

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Why the tax code has so many rules

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Why the tax code has so many rules

Tax rules exist so business owners can take deductions and keep more money, not to confuse you.

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Business trip deductions require real business purpose

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Business trip deductions require real business purpose

Stopping at a few offices or handing out cards doesn't make a personal vacation a deductible business trip.

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Why you shouldn't be afraid of the other category

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Why you shouldn't be afraid of the other category

The IRS can't list every possible expense, so the other category exists for legitimate deductions you might be missing.

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Why tax deductions depend on your specific situation

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Why tax deductions depend on your specific situation

Deductions vary by industry, income level, and other factors, so generic advice rarely applies.

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Why cash payments for business expenses can backfire

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Why cash payments for business expenses can backfire

Using cash for business expenses without proper documentation is technically cheating and comes with real consequences if caught.

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Business meals are legitimate deductions

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Business meals are legitimate deductions

If you spent money on a meal to help your business, it's deductible, so stop giving that money away.

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Mid-sized businesses often miss deductions without help

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Mid-sized businesses often miss deductions without help

Small businesses big enough to have real money but too small for in-house accountants often miss what they can deduct.

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How buying an airplane can zero out your business taxes

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How buying an airplane can zero out your business taxes

A $350,000 airplane purchase can be written off entirely in year one, potentially eliminating your tax bill.

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Hobby loss rule if your business keeps losing money

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Hobby loss rule if your business keeps losing money

The IRS may call your business a hobby if you lose money for years, limiting your deductions.

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