Where’s My Refund? What Is a Tax Refund?
Over the years of being in the tax world this idea of a refund, while appearing to be simple, is often confused. Here we are going to talk about two things: Where’s my refund? What is a tax refund? Lets knock out the most important one first! Where’s My Tax Refund? It’s your money, where […]
What Is a Roth IRA and Why Is It So Powerful?
IRAs (Individual Retirement Accounts) have been around for a long time and utilized by many. Most people when they think of IRAs think of the Traditional IRA. Put money towards retirement and get a tax deduction today. However, a Roth IRA can potentially provider even more powerful tax strategies and that’s what we want to […]
When Are 2021 Tax Returns Due? How Can I Make This Tax Season Stress Free?
Welcome to 2022. Happy New Year Everyone! Although we are onto another year, 2021 is technically not over, we have tax returns to file yet! In this blog post we are going to go through some things you can do early here in 2022 to make this tax season a breeze. Before beginning, the number one […]
What Is the Difference Between an Independent Contractor vs Employee?
Lets face it, the independent contractor vs employee discussion is not going away, it is actually becoming even more important. With COVID you see so many people starting new business ventures which brings this question to the fore front. You also have states really cracking down on this exact topic. With that being said, lets go […]
What Tax Strategies Are Available After the Year Is Over? Tax Strategies After 12/31/21
If you have been listening to our Podcast or following our Blog for awhile you will know that we stress the importance of tax planning throughout the year and NOT during tax season. The fact remains true that if you are looking for and thinking about tax strategies now (in tax season) for last year […]
What 3 Mistakes Do New High-Income Entrepreneurs Make and How Can They Avoid Them?
This week on our Small Business Tax Savings Podcast we had a special guest on, Chris Hanna. He shares his story of entering the entrepreneurial journey and shares tips he has learned along the way. Your taxes don’t have to be scary or complicated. As a new entrepreneur or business owner, that’s exactly what they can […]
What’s the Difference Between a Hobby and Business?
Hobby or business? This is something that is constantly asked in our Free Facebook Group so I knew it was time to do a Blog and Podcast episode for it. From a tax stand point, a hobby and business are taxed very differently so it’s important to know the difference between them. What is a Hobby? The […]
When Are 2021 Tax Returns Due? How Can I Make This Tax Season Stress Free?
Welcome to 2022. Happy New Year Everyone! Although we are onto another year, 2021 is technically not over, we have tax returns to file yet! In this blog post we are going to go through some things you can do early here in 2022 to make this tax season a breeze. Before beginning, the number one […]
What Is a Cost Segregation Study and When Does It Make Sense?
We had Lester Cook from KBKG on our Podcast to discuss cost segregation studies and how they work. This is a more advanced strategy for those that have buildings purchases, improvements, construction, etc. What is Cost Segregation? Cost Segregation is a commonly used strategic tax planning tool that allows companies and individuals who have […]
What Is the Research and Development (R&D) Credit and How Do I Qualify?
We had Jonathan Tucker from KBKG on our Podcast to discuss the Research and Development (R&D) Tax credit. This is just another area that we feel many business owners are unaware of. What is the Research and Development (R&D) Tax Credit? The R&D Tax Credit, is a federal benefit that provides companies dollar-for-dollar cash savings for performing activities related to […]