No one wants to be audited by the IRS, especially small business owners. Sometimes an audit is conducted at random and can’t be avoided, but most times, there are steps you can take to avoid landing under the auditor’s microscope….
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Taxes
My passion is teaching small business owners to understand their taxes while also helping them maximize their profits by reducing their tax burdens. In today’s post, I hope to do both of those things by explaining the magic QBI 28.57%…
When it comes to S-Corporation taxes, knowing the difference between dividends and distributions is important. It’s also good for business owners to have a clear understanding of how S-Corporation dividends or distributions are taxed. In today’s post, I’ll walk you…
Are you stressed because you forgot to file an S-Corp election for your business? Don’t. In today’s post, I’ll walk you through how to file a late S-Corporation election. I’ll also share with you my top-secret reasonable cause for filing…
It’s important for small business owners to have a plan for retirement. If you own an S corporation, there are several options available to you. In today’s post, I’ll give you the lowdown on the five main options so you…
Business owners often have questions about who should get a Form 1099 from them. If you’re an owner of an S-Corporation, you might have also been wondering if you’ll be receiving any Form 1099s from your clients. In today’s article,…
Being a college student should be an exciting and challenging time for you, but figuring out how to file taxes as a college student doesn’t need to add to those challenges. In today’s post, I will help you determine whether…
As a CPA, the biggest thrill for me is helping small business owners “find money” they didn’t know they were losing when doing their taxes. In today’s blog, I’m going to focus on tips for those of you who own…
If you qualified for the IRS Child Tax Credit, then advance payments should have been sent your way each month from July through December of 2021. If you think you missed out on some of that action, or if you…
My husband, James, and I love running a business together, and we have many clients who work with their spouses as well. If you and your spouse both work for your business, you may be wondering if you need to…