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

Deductions don't cheat the system, they shift who pays

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Deductions don't cheat the system, they shift who pays

When you take a deduction, the person you bought from pays tax on that income instead of you.

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What tax code 162 actually means for business deductions

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What tax code 162 actually means for business deductions

Any expense you spend for your business is a business deduction; there's no special list by industry at the IRS.

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Your tax preparer should ask you questions

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Your tax preparer should ask you questions

A good CPA will talk through your expenses to make sure you're claiming everything you actually spent.

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The hidden risks of real estate investing they don't tell you

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The hidden risks of real estate investing they don't tell you

Leveraged rental properties can collapse like dominoes if one fails, and tenants often create costly problems.

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DBA vs LLC: what they actually mean for taxes

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DBA vs LLC: what they actually mean for taxes

A DBA is just a name you operate under, while an LLC must be paired with a tax classification like sole proprietor, partnership, or S corp.

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How business expenses reduce your taxable income

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How business expenses reduce your taxable income

Use your business to pay for legitimate expenses like meals, travel, phone, and supplies before calculating profit.

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You don't need income to claim deductions

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You don't need income to claim deductions

Deductions must go on the year you spent the money, even if you had no income from the business yet.

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What happens if you don't file when you owe taxes

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What happens if you don't file when you owe taxes

If you owe taxes and don't file, a tax professional can help you figure out the damage for free.

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How buying equipment saved one client $60k in taxes

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How buying equipment saved one client $60k in taxes

A client with $375k profit bought equipment before year-end and saved nearly $60,000 by following depreciation rules.

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How to get your tax questions answered all year long

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How to get your tax questions answered all year long

Invitation to join a weekly Q&A program where tax questions get answered throughout the year.

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How business owners write off vacations as conferences

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How business owners write off vacations as conferences

Business travel to conferences with learning activities can be deductible, including hotels and upgraded rooms.

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You don't need a mileage log for the IRS

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You don't need a mileage log for the IRS

The IRS wants to know where you drive and how often, not a daily written log.

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What's the most money we've saved someone on taxes

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What's the most money we've saved someone on taxes

We once saved a client four million dollars; if you think you overpaid, send us your return for a free review.

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We're planning a cruise for clients and followers

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We're planning a cruise for clients and followers

Announcement about an upcoming cruise trip with a link to sign up for updates.

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Why most business owners miss deductions

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Why most business owners miss deductions

Many business owners overlook deductions and overpay taxes; a consultation can help identify what you're missing.

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Three ways small business owners can prepare for 2024 taxes

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Three ways small business owners can prepare for 2024 taxes

Get receipts organized, wait for tax documents, and track business expenses paid from personal accounts.

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How to know if you have a good tax guy

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How to know if you have a good tax guy

A good tax preparer teaches you something new, not just enters numbers into forms.

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Business deductions don't cheat the government

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Business deductions don't cheat the government

When you deduct a business expense, the money goes to someone else who pays tax on it as income.

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S corp vs schedule C saved this client $60,000

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S corp vs schedule C saved this client $60,000

High-income business owner with low overhead saved $60k in self-employment tax by using an S corp instead of schedule C.

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Home office deductions don't include your whole mortgage

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Home office deductions don't include your whole mortgage

You can only deduct the percentage of home expenses for the space you use, not your entire mortgage or utilities.

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Why self-employment changes your tax situation

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Why self-employment changes your tax situation

W-2 employees pay tax on everything, but self-employed people deduct meals, mileage, and home office before calculating taxes.

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Three business deductions most people miss

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Three business deductions most people miss

Meals, mileage, and phone or internet are commonly forgotten because people pay with personal accounts or are scared to claim them.

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Tax debt settlement ads are usually a ripoff

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Tax debt settlement ads are usually a ripoff

The IRS already settles debt for people who can prove they can't pay—no need to pay thousands to a middleman.

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TikTok shop income is taxable even without a 1099

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TikTok shop income is taxable even without a 1099

You must report TikTok shop earnings even if you didn't get a 1099 because the IRS can see your bank deposits.

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688 videos in the library