What Are Baseline Tax Strategies vs Advanced Tax Strategies?
If you are a regular reader here you know that we put a very heavy focus on tax savings or tax strategies you can implement to ensure you pay the least amount in taxes as legally possible. You’ll often times see us talking about baseline tax strategies and then advanced tax strategies. Someone in our Free […]
I Accidentally Paid For Business Expenses Using Personal Funds, Now What?
If you have been around here for awhile you will know I am always preaching, always have a separate business bank account. That should always be the case. Whether you run your business as a sole proprietor, LLC, partnership, S Corp, C Corp, if you have a business you should have a separate business bank […]
How Do You Get Profits Out Of Your Business?
This is a question that I get all of the time (and one we just saw in our Free Facebook Group). How do I get money out of my business to use personally? Another one that relates to this is, my business bank account as no money in it, how am I showing a profit? We […]
What If I Cannot Afford To Pay My Taxes When Due?
First off, if you cannot afford to pay your tax bill, do not panic. There are options available but there are some key things you want to ensure you are doing. What Do I Need To Know If I Cannot Afford To Pay My Tax Bill? Make sure at a minimum you complete a few […]
Is It Fine To File An Extension And What Do I Need To Know About Tax Extensions?
It is that time of the year where we start to get a lot of questions around extensions and there are a lot of mis information out there so we want to try and clear all those up in this article. Is It Fine To File An Extension? We hear from so many business owners […]
Can I Have A Home Office If I Have Another Office?
COVID brought along this new way of working for so many businesses that in the past may have said they are never going virtual. One question that we have seen a lot is around if a business owner can take a home office deduction even if they have another office away from home. That is […]
American Rescue Plan Act – What Do I Need To Know?
There has now been around $6 trillion in economic relief during the pandemic thus far. Yes, $6 trillion. That number includes the recently passed American Rescue Plan Act (ARP) which account for $1.9 trillion. Our goal here is to breakdown the important pieces of the Act that you need to know about. American Rescue Plan […]
Do I Need To File A Tax Return (Personal or Business)?
This is a question we get a done, especially from new business owners, do I even need to file a tax return? In this article we are going to break that down exactly so you know when you need to file a return, whether that be for you personally or your business. Do I Need […]
Unlock Tax Savings: The Augusta Rule – Your Guide to 14-Day Tax-Free Home Rentals
Do you use your home for business events such as shareholder meetings, team retreats, client meetings, employee meetings, etc? If so, this is one tax strategy you definitely want to be check out! The 14 Day Home Rental / Augusta Rule is a piece of the tax code that allows you to potentially shift taxable […]
What Are Some Advanced Retirement Plan Options For High-Income Earners?
Are you a high income earner that is looking to take retirement plan a big step further? If so, this may be something you want to look into. I would highly recommend as a high income earner that you schedule a consult with us before making any decisions so we can ensure you have the […]